Nvidia: 15 billion dollar loss due to US export hurdles + Xiaomi launches new product on Thursday + SFC Energy confirms targets despite slow start to the year
Nvidia $NVDA (-2,46%): 15 billion dollar shortfall due to US export hurdles
- The chip company Nvidia estimates the loss of business due to the US government's stricter export restrictions at 15 billion dollars.
- This loss of sales comes in addition to the already reported write-downs of 5.5 billion dollars for inventories, said Nvidia CEO Jensen Huang in the podcast "Stratechery".
- He also said that the export hurdles would not prevent China from developing artificial intelligence.
- However, Huang warned that an "unintended consequence" of US policy would be the creation of an isolated AI industry in the country, which would later compete with the US industry worldwide.
- Even under the previous President Joe Biden, the USA created barriers to the sale of the most modern high-performance chips to China.
- As a result, Nvidia was only able to supply Chinese companies with a slower version called H20.
- However, even these chip systems have been subject to export restrictions since mid-April due to the trade policy of Biden's successor Donald Trump.
- Anyone who thought that stopping the H20 chips would take away China's ability to develop artificial intelligence was "deeply uninformed", said Huang.
- Nvidia's AI chips could not be technically slimmed down any further than the H20 version.
- Chips from Nvidia have become the key technology for the booming artificial intelligence business.
- Chinese AI developers cannot ignore them either.
Xiaomi $1810 (-2,11%)launches SUV YU7, computer chip and smartphone on Thursday
- Xiaomi (HKG:1810) will unveil its electric SUV YU7 and other products on Thursday, Reuters reported, citing founder and CEO Lei Jun.
- The technology company will launch the SUV along with its Xring O1 mobile chip and the new Xiaomi 15S Pro smartphone, according to the report, citing Lei.
- Analysts believe that the YU7 could compete with Tesla's Model Y in China, Reuters reported.
SFC Energy confirms targets despite slow start to the year
- The fuel cell specialist SFC Energy has started the year with losses.
- However, SFC described the declines in sales and operating profit as expected and justified them with a major project in India in the same period of the previous year, according to the quarterly report presented in Brunnthal near Munich on Tuesday.
- For the year as a whole, the Management Board confirmed the annual targets, according to which sales and operating profit are to increase compared to 2024.
- In the first quarter, turnover fell by 3.6% compared to the first quarter of the previous year to around 38.6 million euros.
- Adjusted for one-off effects and before interest, taxes, depreciation and amortization (ber EBITDA), this was around 30% lower at 6.3 million euros.
- At the bottom line, profit even fell by more than half to around 2.3 million euros.
Tuesday: Stock market dates, economic data, quarterly figures
- Quarterly figures / company dates USA / Asia
- 12:00 Home Depot quarterly figures
- 16:00 McDonalds | JPMorgan AGM
- 16:30 Honeywell AGM
- No time specified: Palo Alto Networks Quarterly figures
- Quarterly figures / Company dates Europe
- 07:00 Wienerberger quarterly figures
- 07:30 SFC Energy quarterly figures
- 08:00 Vodafone Group annual results
- 10:00 Jungheinrich | Nemetschek | Symrise | SAF Holland AGM
- 10:30 Deliveroo AGM
- 11:00 Shell AGM
- 14:30 SAP customer event Sapphire, Keynote CEO Klein
- 16:00 Societe Generale AGM
- 17:00 SAP analyst and press conference
- No time specified: Mutares Annual Report
- Economic data
08:00 DE: Producer prices April FORECAST: -0.5% yoy/-0.9% yoy previous: -0.7% yoy/-0.2% yoy | Hospitality sales March
10:00 EU: ECB, report on financial stability risks from trade tensions | ECB, euro area current account March
15:30 US: Boston Fed President Collins, speech at Fed Listens Event
16:00 EU: Eurozone Consumer Confidence Index (flash estimate) May FORECAST: -16.0 previous: -16.7
18:00 US: Fed St. Louis President Alberto Musalem, speech at Economic Club of Minnesota
