CNBC Daily Open: Tariffs in spotlight
President Donald Trump's administration is reportedly mulling over new tariffs on chips, while Nvidia increases support for Chinese AI models.
TL;DR
- Trump administration considering new semiconductor tariffs amid U.S.-China AI race.
- U.S. lawmakers concerned about American companies adopting advanced Chinese AI models.
- Nvidia increasing support for Chinese AI models while warning of U.S. crackdown.
- SK Hynix investing in a new HBM production base in Indiana, U.S.
- Trump signed an executive order renaming Lake Ontario to 'Lake America'.
- S&P 500 and Nasdaq closed higher, buoyed by tech earnings reports.
- Middle East tensions with Iran continue, contributing to higher oil prices.
- Concerns about potential escalation of the Russia-Ukraine war, with reports of a CIA chief's trip to Moscow.
- FDA approved Gilead's once-daily HIV pill, Bixlenvo, for simplified treatment.