Meet MAGA's Favorite Communist
For the past year, Rufo has been working on a book called 'How the Regime Rules,' which he describes as a 'manifesto for the New Right.' At its core is a surprising inspiration: the Italian Communist thinker Antonio Gramsci, a longtime boogeyman of American conservatives. 'Gramsci, in a sense, provides the diagram of how politics works and the relationship between all of the various component parts: intellectuals, institutions, laws, culture, folklore,' said Rufo, a senior fellow at the Manhattan Institute.
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Business Insider
an hour ago
- Business Insider
Nvidia is gearing up to sell H20 chips to China again
Nvidia said it plans to resume deliveries of its H20 AI chips to China because of assurances from the US government that shipments will be approved. Nvidia, in a blog post dated July 14, said the company "hopes to start deliveries soon" to China, given these assurances. This announcement comes days after Nvidia CEO Jensen Huang met with President Donald Trump and policymakers to talk about the US's domestic AI infrastructure. Huang is in China now and has had meetings with government officials and industry leaders in Beijing, per Nvidia's blog post. The announcement from Nvidia indicates a sharp reversal from the Trump administration's earlier hard stance on chip exports to China. The US Department of Commerce did not immediately respond to a request for comment. A representative of Nvidia said the company had no further comment beyond the blog post. In Asia, where Nvidia's supply chain is concentrated, Hong Kong, Taiwan, and Chinese stocks reacted positively to Nvidia's announcement. On Tuesday, the Hang Seng Tech Index rose as much as 2.2%, and data center operators like Beijing Sinnet Technology rose as much as 7.6%. TSMC, a key Nvidia supplier, is up 1.37%. A multibillion-dollar hit to Nvidia In April, the Trump administration told Nvidia it would need special licenses to sell to Chinese customers. At the time, Nvidia warned it could take a multibillion-dollar hit on earnings from the administration's restrictions on H20 chips. Nvidia's H20 chips are a China-specific variant created specifically to comply with Biden-era export controls on chips sent to China. At the time, Nvidia, in a regulatory filing, said that the Trump administration sees the H20 license requirements as a means to address the risk of China developing its own supercomputer. In an interview with CNN that aired Sunday, Huang said that the US needs access to China for AI dominance. "There's plenty of computing capacity in China already," Huang said. "They don't need Nvidia's chips, certainly, or American tech stacks in order to build their military," he said. Huang added that for the US to be an AI leader, US tech has to be available to all markets, including China, he added. Banning H20 chips made 'little sense': analysts Analysts saw the April licensing requirement as essentially a ban on H20 exports to China. "It should be noted that no licenses for GPU shipments into China have ever been granted and that the stated reason is concern over potential use or diversion of these chips for supercomputers in China," Jefferies analysts led by Blayne Curtis wrote in an April note. Bernstein analysts said banning the H20 chip made "little sense." "H20 performance is low, well below already-available Chinese alternatives. A ban essentially simply hands the Chinese AI market over to Huawei," they wrote. Chinese companies have been reducing their reliance on Nvidia chips, according to the analysts. Chinese companies have also engineered ways for Huawei and other locally designed chips to be networked together.

an hour ago
Nvidia's CEO says it has US approval to sell its H20 AI computer chips in China
BANGKOK -- Nvidia's CEO Jensen Huang says the technology giant has won approval from the Trump administration to sell its advanced H20 computer chips used to develop artificial intelligence to China. The news came in a company blog post late Monday and Huang also spoke about the coup on China's state-run CGTN television network in remarks shown on X. 'The U.S. government has assured Nvidia that licenses will be granted, and Nvidia hopes to start deliveries soon,' the post said. 'Today, I'm announcing that the U.S. government has approved for us filing licenses to start shipping H20s,' Huang told reporters in Beijing. He noted that half of the world's AI researchers are in China. 'It's so innovative and dynamic here in China that it's really important that American companies are able to compete and serve the market here in China,' he said. Huang recently met with Trump and other U.S. policymakers and this week is in Beijing to attend a supply chain conference and speak with Chinese officials. The broadcast showed Huang meeting with Ren Hongbin, the head of the China Council for Promotion of International Trade, host of the China International Supply Chain Expo, which Huang was attending. Nvidia is an exhibitor. Nvidia has profited enormously from rapid adoption of AI, becoming the first company to have its market value surpass $4 trillion last week. However, the trade rivalry between the U.S. and China has been weighing heavily on the industry. Washington has been tightening controls on exports of advanced technology to China for years, citing concerns that know-how meant for civilian use could be deployed for military purposes. The emergence of China's DeepSeek AI chatbot in January renewed concerns over how China might use the advanced chips to help develop its own AI capabilities. In January, before Trump began his second term in office, the administration of President Joe Biden launched a new framework for exporting advanced computer chips used to develop artificial intelligence, an attempt to balance national security concerns about the technology with the economic interests of producers and other countries. The White House announced in April that it would restrict sales of Nvidia's H20 chips and AMD's MI308 chips to China. Nvidia had said the tighter export controls would cost the company an extra $5.5 billion, and Huang and other technology leaders have been lobbying President Donald Trump to reverse the restrictions. They argue that such limits hinder U.S. competition in a leading edge sector in one of the world's largest markets for technology. They've also warned that U.S. export controls could end up pushing other countries toward China's AI technology. ___ AP researcher Yu Bing in Beijing contributed.


The Hill
2 hours ago
- The Hill
Nvidia's CEO says it has US approval to sell its H20 AI computer chips in China
BEIJING (AP) — Nvidia's CEO Jensen Huang says the technology giant has won approval from the Trump administration to sell its advanced H20 artificial intelligence computer chips to China. The news came in a company blog late Monday and Huang also spoke about the coup on China's state-run CGTN television network in remarks shown on X. 'The U.S. government has assured Nvidia that licenses will be granted, and Nvidia hopes to start deliveries soon,' the blog said. Huang recently met with Trump and other U.S. policymakers and this week is in Beijing for talks with officials there. 'Today, I'm announcing that the U.S. government has approved for us filing licenses to start shipping H20s,' Huang told reporters in Beijing. He noted that half of the world's AI researchers are in China. 'It's so innovative and dynamic here in China that it's really important that American companies are able to compete and serve the market here in China,' he said. The White House announced in April that it would restrict sales of Nvidia's H20 chips and AMD's MI308 chips to China. Nvidia had said the tighter export controls would cost the company an extra $5.5 billion. Huang and other technology leaders have been lobbying President Donald Trump to reverse the restrictions. They argue that such limits hinder U.S. competition in a leading edge sector in one of the world's largest markets for technology.