Wall Street steadies
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Wall Street’s AI party may be hitting its first reality check. For 18 months, the “Magnificent 7” — Apple, Microsoft, Amazon, Alphabet, Meta, Tesla, and Nvidia — have powered the S&P 500. But cracks are showing.
The S&P 500 fell 0.6% for a third straight loss , though it remains near its all-time high set last week. The Dow Jones Industrial Average added 10 points, or less than 0.1%, and the Nasdaq composite slumped 1.5%.
Reuters has this story this morning that India is preparing for a new, more powerful chip to sell to China. What is the likelihood that they get regulatory approval for this
Nvidia was blindsided earlier this year when the US government enacted tougher restrictions on selling artificial intelligence chips to China. The restriction prevented Nvidia from selling its H20 chip within the Middle Kingdom,