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Hello, my name is Justina Lee from Singapore. Welcome to another edition of CNBC’s Daily Open.
President Donald Trump’s administration is reportedly considering new tariffs on chips, but tech giants are Nvidia We are increasing support for Chinese artificial intelligence models.
The United States has hardened its stance toward Iran and confirmed it is not negotiating with the country despite continued diplomatic efforts by other countries, raising concerns that the Middle East conflict could become protracted.
Concerns about the possibility of an escalation of the Russia-Ukraine war are also growing following reports that CIA Director John Ratcliffe secretly visited Moscow to warn Russia of a NATO attack.
What you need to know today
Tariffs are once again in the spotlight. As the race to build artificial intelligence infrastructure between the US and China continues to intensify, the Trump administration is reportedly considering new tariffs on semiconductors.
U.S. lawmakers have grown concerned about the adoption of Chinese AI models by U.S. companies as their capabilities have improved significantly this year.
Meanwhile, technology giants NvidiaThe company, which has added more than $400 billion in value after blockbuster profits, warns of a crackdown by the US and increases support for China’s artificial intelligence model.
South Korean memory manufacturer SK Hynix is increasing its presence in the United States by building a new factory in Indiana. This investment precedes, but is in line with, South Korea’s $350 billion investment commitment. CEO Kwak No-jung said the plant will make the state “the major HBM production hub in the United States” by 2030.
Amid rising tensions with Canada, President Trump signed an executive order Thursday renaming Lake Ontario “Lake of the Americas” “immediately.”
In the market, the S&P 500 and Nasdaq Composite closed higher overnight as the latest earnings reports from Nvidia and other big-name technology companies supported sentiment. Asian markets were largely mixed on Thursday, while U.S. futures were little changed.
In the Middle East, tensions between the United States and Iran continue to rise despite diplomatic efforts by other countries, with oil prices rising after Washington confirmed that the United States is not negotiating with Iran.
Concerns are also growing that the Russia-Ukraine war could escalate after reports that CIA Director John Ratcliffe made a secret visit to Moscow to warn Russia of a NATO attack.
—Justina Lee
And finally…
FDA approves Gilead’s daily HIV drug designed to simplify treatment for some patients
The Food and Drug Administration has approved Gilead’s once-daily HIV drug that may help simplify care for some patients, the company announced Thursday.
The drug, sold as Bixlenvo, is aimed at patients whose virus is already under control but are still on a complex treatment regimen. It may also be attractive to people who simply want to switch to a new treatment.
The pill combines bictegravir, the backbone of Gilead’s hit HIV drug Biktarvy, with lenacapavir, a first-in-class capsid inhibitor that is central to the company’s long-term strategy for HIV treatment and prevention.
—Annika Kim Constantino
