Market Voices: Nvidia CEO doesn’t see US easing chip rules for China

Seeking Alpha’s daily roundup of statements and remarks by newsmakers that could impact markets, sectors or individual stocks.

– Nvidia (NASDAQ:NVDA) CEO Jensen Huang said his company will be excluding China from its financial forecasts due to U.S. restrictions on chip sales to that country. He added that he didn’t expect the restrictions to be lifted in the wake of this week’s trade talks between the two nations.

“I’m not counting on it but, if it happens, then it will be a great bonus. I’ve told all of our investors and shareholders that, going forward, our forecasts will not include the China market,” Huang said in an interview with CNN on Thursday.

-U.K. Prime Minister Keir Starmer said there were no remaining obstacles to finalizing a trade deal with the U.S.

“I’m hoping that we will complete it pretty soon,” Starmer told Bloomberg on Friday. “There’s nothing unexpected in the implementation, and so we haven’t got any hiccups or obstacles.”

-Trump slammed Federal Reserve Chairman Jerome Powell again for not lowering interest rates, claiming that if the Fed cut rates by 2%, it would save the U.S. $600 billion a year.

“We’re going to spend $600 billion a year, $600 billion because of one numbskull that sits here [and says] ‘I don’t see enough reason to cut the rates now,’” Trump told reporters at the White House on Thursday, according to CNBC.

Trump added that as inflation was down, he “may have to force something.”

-Advanced Micro Devices (NASDAQ:AMD) CEO Lisa Su said that her company’s newest chips can take on Nvidia’s (NASDAQ:NVDA) and sees the market growing to over $500B by 2028.

“People used to think that $500 billion was very large number,” Su said during a corporate event on Thursday, according to Bloomberg. “Now it seems well within grasp.”

-President Trump said the U.S. will have “a golden share,” or 51%, of U.S. Steel (NYSE:X) after it closes on its merger deal with Japanese steelmaker Nippon Steel.

“We have a golden stock. We have a golden share, which I control, or the president controls,” Trump told reporters at the White House on Thursday. “That gives you total control.”

Trump did not provide any details about how the deal will be structured, according to CNBC.