Samsung reportedly offered NVIDIA its 12-layer HBM3E memory at 20-30% cheaper than SK hynix for use on its made-for-China H20 AI GPU.

Nvidia is developing a new artificial intelligence chip for China based on its latest Blackwell architecture that will be more powerful than the H20 model it is currently allowed to sell there, two people briefed on the matter said.

Wall Street fell further from its records. The S&P 500 lost 0.6% Tuesday, its third straight loss after setting its all-time high last week.

Investor euphoria over artificial intelligence is cooling as market concentration and disappointing corporate returns raise bubble concerns — punishing AI-dependent stocks and prompting a shift toward fundamentals.

The three main public cloud providers all reiterated that demand exceeds computing capacity, which means they will continue to spend growing amounts to meet their customers' needs. Meanwhile, Nvidia is selling chips as fast as it can make them. That led to a 69% rise in revenue in the company's first quarter, and a 59% increase in adjusted income.

Nvidia is set to beat expectations, with strong revenue forecast of $48b for Q2 and expected growth through 2026, driven by demand for AI and new Blackwell architecture.

The agreement between the chipmakers and the U.S. government will allow Nvidia and AMD to obtain export licenses to resume sales to China.

SoundHound is a specialist in conversational AI technologies, and its customers include some of the world's biggest brands. Nvidia first revealed its stake in the company in a 13-F filing with the Securities and Exchange Commission in February 2024, but the chipmaker had sold its entire position by December.

The National Science Foundation and NVIDIA are investing $152 million in an open-source AI initiative led by Ai2, delivering reproducible AI models to accelerate scientific discovery and reshape enterprise IT strategies.