Taken from CNBC’s Daily Open, our international markets newsletter — Subscribe today
U.S. markets continue to ride the artificial intelligence wave, with the tech-heavy Nasdaq Composite closing at fresh all-time highs Friday and other major indexes also rising.
The seismic shifts from the AI wave can be felt everywhere — from fueling the rise of new billionaires at a record pace to drastically changing the cybersecurity and defense landscape and how governments are looking to gain from the boom.
No wonder semiconductors powering AI have become an important piece on the trade chess board. In fact, the U.S. government is trying to profit from allowing chip companies access to the large Chinese market. On Wednesday, reportedly Nvidia CEO Jensen Huang met with U.S. President Donald Trump at the White House and agreed to give the federal government a 15% cut of its sales in China. Another chipmaker, AMD, agreed to the same deal.
Nvidia, meanwhile, has been fending off allegations from Chinese state media that its H20 AI chips pose a national security risk for China as it looks to resume sales to the country.
