U.S. Commerce Department yet to approve Nvidia's export licenses for the H20, sources say. Nvidia placed orders for 300,000 H20 chipsets with TSMC last week due to strong Chinese demand, sources say. * Nvidia's new H20 orders represent a shift from its earlier plan to draw from existing stockpiles, a source says. * The U.S. Commerce Department has yet to approve Nvidia's export licenses for the H20, sources say. Nvidia needs to obtain export licenses from the U.S. government to ship the H20 chips. It said in mid-July it had been assured by authorities that it would get them soon. The U.S. Department of Commerce has yet to approve those licenses, one of the sources and a third source said. This article was written by Eamonn Sheridan at investinglive.com.

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China says reviewing export licenses after US eases chip tech controls Investing.com-- China’s Ministry of Commerce said on Friday that it was reviewing export licenses for local businesses, and acknowledged that the U.S. had lifted some restrictions on chip technology exports to the country. The commerce ministry said it was reviewing applications for export licenses of controlled items, which include rare earths and related magnets, of which Beijing is the world’s biggest producer. The statement comes after the U.S. on Thursday lifted recent restrictions on the export of chip design software and technology to the U.S., which Beijing welcomed. The commerce ministry had in late-June issued new export licenses to three of China’s biggest rare earth producers, reportedly in accordance with a framework trade deal between Washington and Beijing reached in May. The commerce ministry said on Friday that it was working to further implement the outcomes of the May deal, and welcomed further cooperation with Washington. Reuters reported on Friday that the U.S. had also lifted its export ban on American-made jet engine components and technology to China. China had used its rare earth dominance as a major bargaining chip in trade negotiations with the U.S., and had slashed its exports of the material amid a bitter trade war with Washington earlier this year. But the two agreed to greatly reduce their respective trade tariffs in May, and announced a framework trade agreement in June. Washington’s chip control measures, which were tightened under President Donald Trump, were a major point of contention for Beijing. AI computing powers are changing the stock market. Investing.com's ProPicks AI includes 6 winning stock portfolios chosen by our advanced AI. In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. Which stock will be the next to soar?

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Beijing puts six month limit on its ease of rare earth export licenses According to the Wall Street Journal: * China to limit rare-earth export licenses to U.S. automakers and manufacturers to six months, adding leverage and uncertainty amid trade tensions. * The temporary licenses were restored after two days of intense talks in London, following a Geneva agreement last month. * In exchange, U.S. agreed to ease restrictions on sales of jet engines, parts, and ethane (used in plastics manufacturing). Framework details are still being finalized; the White House declined to comment. Lutnick spoke earlier but did not mention the six month limit..China has agreed to begin approving rare-earth license applications immediately, pending final sign-off by President Trump and Chinese leader Xi Jinping. If the agreement is approved, licenses could be issued within a week. As the approvals move forward, the U.S. will start lifting its countermeasures, including export controls. President Trump stated that the deal is effectively done, subject to final approval, and declared that “FULL MAGNETS, AND ANY NECESSARY RARE EARTHS, WILL BE SUPPLIED.” The rare-earth elements covered under the licenses will primarily serve sectors such as electric vehicles, wind turbines, consumer electronics, and military equipment. However, despite the trade truce agreed upon in Geneva in May, both Washington and Beijing have since accused each other of undermining the agreement This article was written by Greg Michalowski at www.forexlive.com.

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