Solar's Hopes Dim as Post-Covid Boom Turns to Trump-Era Bust
Solar companies in the US and Europe boomed in the wake of the pandemic and the war in Ukraine as government incentives and record high gas prices drove installs. Now, they are reeling in the face of still-high interest rates and regulatory uncertainty, while Chinese manufacturers flood the European market with cheaper products.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
17 minutes ago
- Bloomberg
FTSE 100 Live: UK Stocks Set to Rise, Pound Gains as Tariff Worries Ease
Chancellor Rachel Reeves is set to make her Mansion House speech today, a key moment following a period of tumult for the government which has increased uncertainty around UK assets. Reeves will focus on plans to ease access to mortgages in order to spur home ownership, including a permanent mortgage guarantee scheme and more loans for people on lower incomes, Joe Mayes, Ronan Martin and Leonard Kehnscherper. The measures on mortgages will be announced in Leeds earlier in the day, before she travels to London for the address. In addition to that, the City will be watching for a pathway to international finance firms to set up in London, reforms on the 0.5% stamp duty charged on UK share trading, detail on scrapping the Payment Systems Regulator, information around stablecoin usage and plans on changing bank ring-fencing rules.
CNN
19 minutes ago
- CNN
Nvidia to resume H20 GPU chip sales to China, launches compliant model
Nvidia (NVDA) said it plans to resume sales of its H20 artificial intelligence chip to China, days after its CEO, who is visiting Beijing, met US President Donald Trump. Nvidia's AI chips have been a key focus of US export controls designed to keep the most advanced chips out of Chinese hands amid national security concerns, restrictions that the US-listed company said would cut its revenue by $15 billion. The world's most valuable firm is filing applications with the US government to resume sales to China of the H20 graphics processing unit (GPU), and expects to get the licenses soon, Nvidia said in a statement. 'The US government has assured NVIDIA that licenses will be granted, and NVIDIA hopes to start deliveries soon,' it said. Nvidia, which has criticized the export restrictions the Trump administration imposed in April that stopped it from selling its H20 chip in China, also said it has introduced a new model tailored to meet regulatory rules in the Chinese market. The White House did not immediately respond to a request for comment. The US government has expressed concern that the Chinese military could use AI chips to develop weapons. Nvidia CEO Jensen Huang is scheduled to hold a media briefing in Beijing on Wednesday when he attends a supply chain expo, his second visit to China after a trip in April where he stressed the importance of the Chinese market. 'The Chinese market is massive, dynamic, and highly innovative, and it's also home to many AI researchers. Therefore, it is indeed crucial for American companies to establish roots in the Chinese market,' Huang told Chinese state broadcaster CCTV on Tuesday. Nvidia has faced increased competition from Chinese tech giant Huawei and other makers of graphics processing units – the chips used to train artificial intelligence. But Chinese companies, including its big tech firms, still crave Nvidia chips due to the company's computing platform known as CUDA. Huang's visit is being closely watched in both China and the United States, where a bipartisan pair of senators last week sent a letter to the CEO asking him to abstain from meeting companies that are working with military or intelligence bodies. The senators also asked Huang to refrain from meeting with entities named on the United States' restricted export list. The move to resume sales of the H20 chips comes amid easing tensions between Washington and Beijing, with China relaxing controls on rare earth exports and the United States allowing chip design software services to resume in China. 'The uncertainties between the US and China remain high and despite a pause in H20's ban, Chinese companies will continue to diversify their options to better protect their supply chain integrity,' said He Hui, research director of semiconductors at Omdia. The H20 chip was developed specifically for the Chinese market after US export restrictions were imposed on national security grounds in late 2023. The AI chip was Nvidia's most powerful legally available product in China until it was effectively banned by Washington in April. The H20 ban forced Nvidia to write off $5.5 billion in inventories, and Huang told the Stratechery podcast earlier this year that the company also had to walk away from $15 billion in sales. Nvidia also announced the development of a new AI chip designed specifically for China, called the RTX Pro GPU. The company described the model as 'fully compliant' with US export controls and suitable for digital twin AI applications in sectors such as smart factories and logistics. In May, Reuters reported Nvidia was preparing to launch a new AI chip, based on the RTX Pro 6000D, in China at a significantly lower price point than the H20. The graphics processing unit would be part of Nvidia's latest generation Blackwell-architecture AI processors and was expected to be priced well below the H20 due to its weaker specifications and simpler manufacturing requirements, sources said. China generated $17 billion in revenue for Nvidia in the fiscal year ending January 26, accounting for 13% of the company's total sales, based on its latest annual report. Huang has consistently highlighted China as a critical market for Nvidia's growth.
Wall Street Journal
20 minutes ago
- Wall Street Journal
Ericsson Earnings Beat Forecasts Despite Tariff Hit
STOCKHOLM–Ericsson's second-quarter earnings beat expectations despite a negative impact from U.S. import tariffs, as it benefited from a larger share of sales in higher-margin countries, increased licensing revenue and cost savings. The Swedish telecommunications-equipment company said Tuesday that its key networks business posted a 5.3% fall in sales overall in the period, with strong growth in North America and a slight sales increase in Europe, but significant declines in India where the company had lower network investment levels.
