Nvidia has told Chinese clients it is evaluating adding production capacity for its powerful H200 AI chips after orders exceeded its current output level. The move comes after U.S. President Trump said the U.S. government would allow Nvidia to export H200 processors to China.
China plans to expand exports and imports next year as part of efforts to promote “sustainable” trade. The trillion-dollar trade surplus posted by the world’s second-largest economy is stirring tensions with Beijing’s trade partners and drawing criticism from the observers who say its production-focused economic growth model is unsustainable.
The U.S dollar slumped, hitting multi-month lows against the euro, Swiss franc, and sterling and extending losses from the previous session after the Federal Reserve delivered a less hawkish outlook than some had expected.
Gold rose to hit its highest level in more than a month after the U.S. Federal Reserve’s quarter-point rate cut pushed the dollar lower, while silver surged to a record high. U.S. gold futures for February delivery settled 2.1% higher.
The tech-heavy Nasdaq Composite Index lost ground, as Oracle’s financial update sent investors away from many artificial intelligence-related stocks while the Dow hit a record high as investors rotated into value stocks after a Federal Reserve policy update that was less hawkish than expected.
The U.S. dollar extended losses against major peers including the euro, Swiss franc, and Japanese yen after the Federal Reserve lowered interest rates in a widely expected move. The greenback lost ground against peer currencies immediately after the Fed’s announcement.
