Market Voices: Nvidia CEO looking to invest more in U.K. AI sector

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

-Nvidia (NASDAQ:NVDA) CEO Jensen Huang praised the U.K.’s AI ecosystem and said his company planned to continue to invest in the sector there.

“The U.K. is in a Goldilocks circumstance,” Huang said while speaking on a panel with U.K. Prime Minister Keir Starmer during London Tech Week, according to CNBC. “You can’t do machine learning without a machine — and so the ability to build these AI supercomputers here in the U.K. will naturally attract more startups.”

Huang added, “I think it’s just such an incredible, incredible place to invest. I’m going to invest here.”

-National Economic Council Director Kevin Hassett said he expects U.S. trade negotiators to reach a deal with Chinese officials over the export of rare earth minerals to the U.S. when they meet in London on Monday.

Hassett told CNBC on Monday that he expected it “to be a short meeting with a big, strong handshake.”

“Our expectation is that… immediately after the handshake, any export controls from the U.S. will be eased, and the rare earths will be released in volume, and then we can go back to negotiating smaller matters,” Hassett added.

Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick are also expected to participate in the talks.

-United Natural Foods (NYSE:UNFI), a major supplier for Amazon’s (NASDAQ:AMZN) Whole Foods unit, said it has taken some of its IT systems offline due to a cyberattack, which has impacted its ability to fulfill and distribute orders. The company said in an SEC filing Monday that it became aware of unauthorized activity on its systems on June 5.

“Pursuant to its business continuity plans, the Company has implemented workarounds for certain operations in order to continue servicing its customers where possible. The Company is continuing to work to restore its systems to safely bring them back online,” the company added in its filing.

-OPEC+’s recently announced output increase is part of a broader Saudi Arabian strategy for regaining market share from U.S. shale, according to BofA’s head of commodities research, Francisco Blanch.

“It’s not a price war that is going to be short and steep; rather, it’s going to be a price war that is long and shallow,” said Blanch in a Bloomberg TV interview on Monday.

Blanch added that the Saudis were also looking to regain market share from other OPEC+ nations. “They’ve done this price support already by themselves for three-plus years,” Blanch said, adding, “they’re done with that.”