SA Market Talk: Nvidia CEO blasts Biden-era chip export restrictions

Seeking Alpha’s round up of remarks and statements by newsmakers that could potentially move markets, sectors or stocks.

• Nvidia CEO Jensen Huang said during an industry event in Taipei that the Biden administration’s restrictions on AI chip sales to China have been a “failure,” resulting in Chinese companies relying on local chipmakers like Huawei, according to Reuters. Huang said Nvidia (NASDAQ:NVDA) now faces “intense competition” in China as a result of the restrictions, and praised the Trump administration for moving to end them.
• The European Central Bank said Wednesday that investors appear to be reconsidering U.S. investments amid increased tariffs. In a report, the ECB said that while “euro area financial markets held up well” during recent market turbulence, there were “atypical shifts away from some traditional safe havens like U.S. Treasuries and the U.S. dollar.” It added that the moves could be indicative of a “more fundamental regime change” that could have “potentially far-reaching consequences for the global financial system.”
• Private equity is in “trouble” due in part to its valuation practices, Sheikh Saoud Salem Al-Sabah, managing director of the Kuwait Investment Authority, said at the Qatar Economic Forum on Wednesday. “Private equity is very troubled, I believe, especially in the large buyouts, venture capital and the rise of continuation vehicles — that’s a very worrying sign,” Sheikh Saoud said, adding, “their time is coming.”
• Elon Musk told CNBC on Tuesday that he expects to see Tesla (NASDAQ:TSLA) robotaxis on streets in Austin, Texas, by the end of June, followed by rollouts in San Francisco and Los Angeles. The company will start with around ten vehicles in Austin, with expectations to expand into the thousands if the launch goes well.