Losing access to Nvidia chips isn't just a hardware problem for China.
The letter almost cost Nvidia $400 million. In late August, the U.S. Commerce Department sent a notice to the American chipmaker ordering it to halt sales of its most important chip, the A100, to Chinese customers. Overnight, hundreds of millions of dollars in potential sales that quarter looked as if they might evaporate. The company’s stock price fell 6 percent, and Nvidia warned the drop in sales could even slow down the development of its next generation chip, the H100.
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For much of the past two decades, Europe's luxury market has counted on the ferocious appetite of Chinese consumers to bolster its bottom line. But foreign luxury brands are facing a reckoning in China. Not only is China’s economy entering a more uncertain phase, giving consumers pause, but homegrown designers and labels are also gaining ground. The questions now are which European brands can still rely on China, and how China's domestic designers can capture a share of the pie.
The Treasury’s top international official gives an inside-the-room account of the latest talks between Treasury Secretary Yellen and the Chinese leadership, including the U.S.’s efforts to get Beijing to address overcapacity and economic imbalances, how...
A podcast about how the two nations, once friends, are now foes.
Hear why things are so complicated now. Host Jane Perlez, former New York Times Beijing bureau chief, talks with diplomats, spies, cultural superstars like Yo Yo Ma, and more to understand why the dangers are so high, and why relations went awry.