Jane Street Should Put Its Secret India Sauce to the Test
The Securities and Exchange Board of India sent ripples through trading rooms around the world last Friday when it temporarily banned Jane Street from the local market and froze 48.4 billion rupees ($565 million) in what it alleges to be unlawful gains.
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32 minutes ago
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Nvidia CEO to hold media briefing in Beijing on July 16
By Che Pan and Mei Mei Chu BEIJING (Reuters) -Nvidia CEO Jensen Huang will hold a media briefing in Beijing on July 16, an official from the company said on Sunday, marking his second visit to the country after a trip in April where he stressed the importance of the Chinese market. Since 2022, the U.S. government has imposed restrictions on the export of Nvidia's most advanced chips to China, citing concerns over potential military applications. The U.S. also imposed a ban earlier this year on sales of Nvidia's H20 artificial intelligence chips to the country - which had been Nvidia's most powerful AI chip cleared for Chinese sales. Huang's latest visit has been closely-watched in both U.S. and China. A bipartisan pair of U.S. senators on Friday sent a letter to Huang about his China trip, asking him to abstain from meeting with companies that are working with military or intelligence bodies in the People's Republic of China. The senators also asked Huang to refrain from meeting with entities named on the United States' restricted export list. 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. 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. Nvidia's market value topped $4 trillion for the first time last week, solidifying the chipmaker's position as Wall Street's central player in a race to dominate AI technology. Sign in to access your portfolio
Yahoo
2 hours ago
- Yahoo
South Asian women might be the winners of the gold rush
Every piece of gold that Farzana Ghani owns holds a memory. She has intricate jewelry sets from her mother-in-law from her wedding in Pakistan; a gold chain gifted from her mother after she performed the Hajj, the Muslim pilgrimage; and gold coins to celebrate her daughter's birth. And she will keep investing in gold, as prices for the metal reach record highs. 'Compared to bonds and compared to holding cash, I would still prefer to buy gold coins,' Ghani, 56, of Miami, Florida, said. Brides in South Asia are famously decked out in the precious metal – necklaces, earrings, nose rings, hair pieces and amulets – that can be gifted or inherited. The collection often starts before they're even born, composed of inherited pieces and gifts to commemorate their birth, life milestones and religious holidays. Gold has been known as the most reliable safe haven asset for millennia, but it is more than an investment for South Asian families. The tradition of daughters inheriting their mothers' gold spans across urban and rural India, regardless of socioeconomic class. It is deeply sewn into the fabric of the region's culture, often quite literally, as many women inherit saris that are intricately embroidered with gold thread. They revere gold pieces as precious family heirlooms rather than a quick cash turnaround — and for women, it can be one of the few assets that belong solely to them. Gold prices have skyrocketed 26% this year, after rising 27% in 2024. The metal hit a record high above $3,500 a troy ounce in April, spurred by US President Donald Trump's chaotic tariff agenda and his attacks on the Federal Reserve's leader. And the South Asian women who long invested most of their assets into gold are winning in this rally. 'Whatever I have, it's all gold,' one South Asian mother described to her viewers on TikTok, showing off a 24-carat necklace she received 28 years ago. 'When I bought this (necklace) right, those days, golds were very cheap. One gram was $12. Now it's $100.' India was the second-largest market for gold jewelry in the world in 2023, only falling behind China, according to leading industry group World Gold Council. In 2021, India bought a whopping 611 tonnes of gold jewelry; in comparison, the next-biggest region, the Middle East, bought 241 tonnes. Demand in India is driven by jewelry: The country has an expected 11 million to 13 million weddings a year, with bridal jewelry enjoying more than 50% of the gold market share, accordingly. South Asians make up approximately 10% of UK gold supplier Solomon Global's client base, and it had seen an uptick in the last year in women of South Asian origin buying gold, according to the company. 'Jewelry is something that has an auspicious place in people's lives, it can be very consumer oriented, but it is also a very good mechanism for saving and passing wealth from generation to generation,' Joseph Cavatoni, senior market strategist for the Americas at the World Gold Council, told CNN. People in India don't view gold as a splurge according to Sachin Jain, India CEO of the World Gold Council. Instead, gold pieces are viewed as family assets that will only appreciate in value. Gold jewelry also serves as a physical form of financial protection in a region where millions of people — particularly women — may not have access to bank accounts or other forms of organized investing. In India, less than 50% of women manage their finances independently, according to a March survey from YouGov. Ghani grew up with that mindset. In Pakistan, her mother told her to set aside any pocket money and, once it's accumulated, buy 24-karat gold coins. 'We Eastern women are always known for having money on rainy days. We don't live for today and then forget about tomorrow,' Ghani said. But in 2025, it's not just South Asian brides who are relying on gold investments. Trump's trade war has thrown the global trade status quo into disarray, and investors are looking to move their assets from more volatile paper currency. Gold posted its strongest quarterly return since 1986 during the first quarter of 2025, with demand for safe havens spilling into other metals like silver and platinum. 'Gold is a bastion of safety and value,' Joshua Barone, a wealth manager at investment firm Savvy Advisors, told CNN. Even with the occasional dip, the price of gold per troy ounce has soared more than 1,900% over the past 50 years, according to BullionByPost, the largest online gold dealer in the UK. Silver has risen 697% over the same time period. Central banks in India and China have been buying bullion to boost their reserves. The Reserve Bank of India has increased its gold holdings by 35% in the last five years, according to Solomon Global. South Asians have long been storing gold in their own homes. Conservative estimates say that 25,000 tons or more of gold are sitting in homes in India, Jain said. But South Asians are not interested in selling off their gold just yet. Indians are holding on to their gold even with high prices, Jain said, despite the trend of increased sales when prices were relatively high historically. 'The Western markets tend to want to hold gold when things are really scary, market risk and uncertainty. But (South Asian) families, these generations, have held gold for a long time, because they see that gold grows with economic expansion and it links to the GDP,' Cavatoni said. Instead, Jain noted that in the past year, Indian consumers are coming back into stores and converting their old jewelry into more contemporary designs. Young people still see the value in holding on to gold – but they want pieces they can wear every day rather than gigantic bridal sets that are sitting in bank lockers. 'I think the younger consumer wants to own, fall in love and use those pieces, make them part of their life,' Jain said. When Ghani's daughter was getting married last December in Miami, she converted many of her gold coins and old jewelry sets into a modern collection for the bride, one that she can keep and pass on to her own children in the future. Other gold coins were set aside for Ghani's son. 'She wanted to wear artificial (jewelry),' Ghani sighed. 'But gold is the most decent, the most elegant. I told her, 'Do not wear anything else.'' CNN's John Towfighi contributed to this report.
Yahoo
2 hours ago
- Yahoo
Why Coupang Just Became a Must-Own AI Stock in the Technology Sector
Coupang just publicly unveiled its cloud computing service. The service adds another engine to power the company's growth prospects. The stock trades at a cheap valuation if you have a long time horizon. 10 stocks we like better than Coupang › Another technology player just got into the artificial intelligence (AI) game. Coupang (NYSE: CPNG) recently unveiled its new intelligent cloud computing service focused on AI, which is vying for government funding as South Korea aims to become a cloud computing hub. The e-commerce platform is expanding into another technology field, giving the company an even longer runway to grow. Similar to Amazon, Coupang has begun in e-commerce and has now taken those resources to build a cloud computing service. Here's why Coupang just became a must-own stock in the technology sector. According to its press release, Coupang has been investing in AI computing infrastructure for years to power its warehouses, website analytics, and logistics network. Now, it is beginning to outsource its data centers to third parties. Named the Coupang Intelligent Cloud (CIC), earlier this month management officially unveiled the division, which is a major departure from its commerce platform. It is curious timing -- and perhaps not coincidental -- to have this announcement come right around when the government of South Korea plans to spend $1 billion on a GPU cluster for AI in Seoul. Coupang is one of the companies vying for this contract, which could kick-start growth for this new endeavor. As a Korean company, the government of South Korea is more likely to choose Coupang for this deal, making it one of the potential candidates to win the contract. Cloud computing is a huge and lucrative market, which makes it an exciting sector for Coupang to tackle. Just take a look at Amazon, which generates more than $100 billion in revenue from its cloud computing division. This won't happen to Coupang overnight, but the company just massively expanded its addressable market by entering a sector that is now supercharged by the AI revolution. In e-commerce, Coupang still has plenty of room left to expand its operations in South Korea. Its revenue from its original e-commerce marketplace grew 16% year over year last quarter to $6.9 billion, and is still a small slice of the total Korean retail market. With $2 billion in annual operating cash flow, Coupang is now a self-sustaining operator, which gives it the flexibility to reinvest into new revenue segments. And boy, is it ever reinvesting. It has the newly introduced cloud segment, which can take a lot of capital expenditures as the company looks to build new data centers. There is food delivery, financial technology, video streaming, advertising, and the Farfetch luxury marketplace it just acquired. Most important may be the geographic expansion into Taiwan, which has accelerated revenue growth at the company's "developing offerings" segment to 78% year over year on a foreign currency neutral basis. The segment now does $1 billion in quarterly revenue and should become an increasingly important part of the overall Coupang business in the next few years. There is reason to be highly optimistic around Coupang's future growth prospects. Its core business is still chugging along, Taiwan and other developing offerings are growing quickly, and it just added this new cloud computing division. From my seat, this sounds a lot like Amazon in the early days, and readers are well aware of how well this stock has performed for shareholders in the last two decades. Coupang stock is up 41% in the last year, but I think the party is just getting started. At a market cap of $55 billion, the stock trades at what looks like an expensive price-to-earnings ratio (P/E) of 215, but this is misleading compared to Coupang's forward earnings potential. The company generates $31 billion in annual revenue and believes it can reach 10% profit margins once it stops reinvesting for growth. Given its current revenue growth potential, I think the company can quickly get to $50 billion in revenue and eventually has a path to $100 billion in annual sales. Margins may even end up higher than 10% due to the growth of advertisements and this new cloud computing division. That $50 billion in revenue and 10% profit margins would result in $5 billion in earnings, or a forward P/E barely over 10 compared to the stock's current market cap. This will happen faster than investors think. Coupang stock looks like a fantastic AI stock to add to your portfolio right now. Before you buy stock in Coupang, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Coupang wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $671,477!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,010,880!* Now, it's worth noting Stock Advisor's total average return is 1,047% — a market-crushing outperformance compared to 180% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of July 7, 2025 John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Brett Schafer has positions in Amazon and Coupang. The Motley Fool has positions in and recommends Amazon. The Motley Fool recommends Coupang. The Motley Fool has a disclosure policy. Why Coupang Just Became a Must-Own AI Stock in the Technology Sector was originally published by The Motley Fool Sign in to access your portfolio
