U.S. President Donald Trump (L) listens as Nvidia CEO Jensen Huang speaks in the Cross Hall of the White House during an event on “Investing in America” on April 30, 2025 in Washington, DC.<\/p>\n
Andrew Harnik | Getty Images<\/p>\n
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.\u00a0\u00a0<\/p>\n
The seismic shifts from the AI wave can be felt everywhere \u2014 from fueling the rise of new billionaires<\/a> at a record pace to drastically changing the cybersecurity<\/a> and defense landscape and how governments are looking to gain from the boom. \u00a0<\/p>\n 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<\/a> 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<\/a>, AMD, agreed to the same deal.\u00a0<\/p>\n 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.<\/p>\n While investors appear to be cheering on AI stocks \u2014 Nvidia gained over 1% Friday \u2014 they are also bracing for a data-heavy week ahead. The consumer price index, out Tuesday, will be particularly in focus as it could offer clarity on the Federal Reserve’s rate path.\u00a0<\/p>\n \u2014 Nur Hikmah Md Ali<\/p>\n What you need to know today<\/p>\n Nvidia refutes security risk allegations. The chip giant pushed back Sunday<\/a> after an account affiliated with the Chinese state broadcaster CCTV said its chips were not safe and had a “remote shutdown” function.<\/p>\n U.S. stocks post a winning week. On Friday, the Nasdaq Composite jumped 0.98% to a fresh record high<\/a>. The S&P 500 also gained to close just a few points shy from a new record. Asia-Pacific markets<\/a> traded subdued Monday as the U.S.-China tariff truce deadline loomed.<\/p>\n Nvidia and AMD agree to pay 15% of China chip sales to the U.S. The chipmakers will receive export licenses in exchange, in an unprecedented arrangement with the White House, according to the Financial Times<\/a>.<\/p>\n Loud luxury makes a comeback. High-end brands are pivoting to visible opulence<\/a> in a bid to woo shoppers as they grapple with multiple headwinds, including trade tariffs and soft consumer sentiment.<\/p>\n [PRO] Data-heavy week for Wall Street. The latest consumer price index is set to release Tuesday, and the producer price index is due out Thursday. Investors also await other economic data<\/a> such as retail sales, as they assess whether the Federal Reserve will cut rates in September.<\/p>\n And finally…<\/p>\n Chairman and CEO of SoftBank Masayoshi Son reacts on the day U.S. President-elect Donald Trump delivers remarks, at Mar-a-Lago in Palm Beach, Florida, U.S., December 16, 2024.\u00a0<\/p>\n Brian Snyder | Reuters<\/p>\n