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Aurora CEO on Self-Driving Trucks, Working With Nvidia

Aurora CEO on Self-Driving Trucks, Working With Nvidia

Yahoo11-07-2025
Aurora Innovation CEO Chris Urmson discusses the company's autonomous trucking service, the regulatory environment and partnership with Nvidia. He speaks with Ed Ludlow at the Sun Valley conference.
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Nvidia AI Chips Worth $1B Were Smuggled to China to Defy Trump, Claims Report
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Nvidia AI Chips Worth $1B Were Smuggled to China to Defy Trump, Claims Report

U.S. semiconductor giant Nvidia (NVDA) stock edged up today despite reports that its chips were smuggled into China to beat President Trump's export controls. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Beating Controls The Financial Times reported today that Nvidia's high-end B200 processors worth around $1 billion were smuggled to China in the three months after Washington tightened chip export controls at the height of the tariff trade war between the two nations. The FT stated that the processors, banned for sale in China, are widely available on a thriving Chinese black market for U.S. chips. The FT report cited sales contracts, company filings and insider information. It stated that in May, multiple Chinese distributors started selling B200s to suppliers of data centers that serve Chinese AI groups. It added that the most likely source of the restricted chips is Southeastern Asian nations. Nvidia, led by chief executive Jensen Huang, told Reuters that building data centers with smuggled products is inefficient both technically and financially, as the company only offers service and support for authorized products. It has said that there is no evidence of any 'AI chip diversion.' There is no suggestion the company is involved in or has knowledge of its restricted products being sold to China. AI Race Nvidia last week said it would be allowed to resume sales to China after the Trump administration reversed an export restriction on the sales of chips such as H20. The curbs were imposed in April. It comes as the U.S. said it is looking to relax AI export controls and boost infrastructure investment as part of its newly unveiled AI action plan. At the heart of it is the continued battle for global AI supremacy between the U.S. and China. As can be seen below, Nvidia, which relies heavily on the Chinese market, has good reason to find a careful balance between the two. That includes pledges from Nvidia to invest billions of dollars in U.S.-manufactured chips and electronics over the next four years, as well as regular trips to China to reaffirm its commitment to the country. Is NVDA a Good Stock to Buy Now? On TipRanks, NVDA has a Strong Buy consensus based on 34 Buy, 3 Hold and 1 Sell ratings. Its highest price target is $250. NVDA stock's consensus price target is $182.49, implying a 5.52% upside.

China's Repair Market for Banned Nvidia (NVDA) AI Chips Is Booming
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In China, demand is quickly rising for repair services of Nvidia's (NVDA) advanced artificial intelligence chips, even though these products are banned from being exported to the country by the United States. Several small repair companies in Shenzhen now specialize in fixing the chipmaker's high-end H100 and A100 GPUs. These bans, which began in 2022, were meant to limit China's progress in AI and military technology, but the ongoing repairs suggest that many of these chips continue to enter the country. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. The repair industry has grown so fast that some companies have created new businesses just to handle the influx of work. This sudden boom has led to worries about large-scale smuggling of banned chips, especially since government and military purchase records have confirmed their presence in China. In response, U.S. lawmakers from both political parties have proposed laws to track these chips after they are sold, an idea that was recently supported by President Donald Trump's administration. Although Chinese tech company Huawei has introduced its own AI chips, Nvidia's products remain the top choice for demanding tasks, such as training large language models. Since many H100 and A100 chips in China have been running nonstop for years, this has led to a higher failure rate and increased the need for repairs. Interestingly, fixing a single chip can cost $1,400 to $2,800, depending on the issue. At the same time, Chinese buyers are now looking to get Nvidia's newest B200 chips, which cost over 3 million yuan (about $415,000) per server, showing just how strong the demand for these processors remains. What Is a Good Price for NVDA? Turning to Wall Street, analysts have a Strong Buy consensus rating on NVDA stock based on 34 Buys, three Holds, and one Sell assigned in the past three months, as indicated by the graphic below. Furthermore, the average NVDA price target of $182.49 per share implies 5% upside potential.

Intel is cutting more jobs as CEO Tan tries to fix manufacturing missteps
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By Arsheeya Bajwa, Stephen Nellis and Max A. Cherney (Reuters) -Intel is going to end the year with a workforce that is over a fifth smaller than last year, it said on Thursday, and new CEO Lip Bu Tan presented a blueprint for a more cost-disciplined, streamlined chipmaker that would issue "no more blank checks." The job cuts - a majority of which have been completed already - are part of an effort by Tan since he took the helm in March to turn around the storied U.S. chipmaker. Intel has divested businesses, laid off employees and redirected resources. The company has underperformed due to years of management blunders. Intel has virtually no foothold in the booming AI chip industry that is dominated by Nvidia, and its longtime rival AMD has been gaining share in Intel's mainstay personal computer and server semiconductor markets. Its ambitious and costly plan for a chip contracting business that rivals that of Taiwan's TSMC has failed to take off. But Tan on Thursday signaled that he had taken charge of the company and was trying to wrest it back from what he viewed as previous missteps. "There are no more blank checks," Tan wrote in a memo to employees. "Every investment must make economic sense. We will build what our customers need, when they need it, and earn their trust through consistent execution." But shares still fell 4.5% in extended trading after the company forecast steeper third-quarter losses than Wall Street estimated. Tan also told analysts on a conference call that he believes Intel's so-called 18A manufacturing process - in which his predecessor Pat Gelsinger had deeply invested - could generate a reasonable return only if it is used for Intel's own products. Reuters reported earlier this month that Tan is debating whether to quit offering that technology to external customers. As part of the job cuts, Intel attempted to take a 'surgical' approach and remove layers of middle management, finance chief David Zinsner told Reuters. 'We took out about 50% of the layers of the company,' he said. The company is cutting its workforce by 15% from 96,400 that it reported at the end of June. It plans to further reduce headcount to 75,000 by the end of the year, down 22% from the end of 2024, which will be through attrition and "other means," according to the company. TAN WILL REVIEW "They may have overspent on 18A ... but I think this is the painted picture of a new fiscally disciplined base that they're going to go from here. I think that's the right approach," said Ben Bajarin, CEO of tech market analysis firm Creative Strategies. In the memo to employees, Tan said Intel is changing its strategy for building manufacturing capacity and now plans to build factories only when the demand for its chips is there. Previously, the company had built factories ahead of demand in the U.S. and elsewhere. Intel is now working to bring its 18A technology to high volume. Tan said in the memo that the company plans to take a disciplined approach to investments in the next-generation 14A manufacturing process, and in its quarterly securities filing, Intel said that if it fails to find a significant external customer for 14A, it may be forced to exit the chip manufacturing business. Tan wrote the company now plans to slow construction work on new factories in Ohio and halt planned factories in Poland and Germany, and consolidate chip packaging operations in Costa Rica with its other packaging operations in Vietnam and Malaysia. "I do not subscribe to the belief that if you build it, they will come," Tan said on the call with analysts. He later added that he will personally review and approve each of Intel's major chip designs. STEEP LOSSES Intel said it expects a third-quarter loss of 24 cents per share, steeper than estimates of losses of 18 cents per share, according to data from LSEG. It expects revenue of $12.6 billion to $13.6 billion for the September quarter, with a midpoint of $13.1 billion that was higher than analysts' average estimate of $12.65 billion. While semiconductors are currently exempt from U.S. President Donald Trump's sweeping global tariffs, Intel and its fellow chipmakers are facing customers who are reluctant about spending commitments amid widespread macroeconomic uncertainty. Customers have pulled shipments forward to the first half of the year amid trade uncertainty. Intel's second-quarter revenue for the period ended June 28 was flat at $12.9 billion, snapping a four-quarter streak of sales declines. The result beat estimates of $11.92 billion. Intel said job cuts contributed to restructuring costs of $1.9 billion in the second quarter. It recorded June quarter adjusted losses of 10 cents per share, compared with estimates of a profit of 1 cent per share. Its unadjusted loss was 67 cents per share in the second quarter, steeper than analyst estimates of a 26-cent-per-share loss. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

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