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NVIDIA Corporation NVDA shares are trading higher on Monday after the Biden administration announced a trade investigation into China’s semiconductor industry. What To Know: The “Section 301” investigation focuses on China’s production and trade practices for “legacy” semiconductors, which could lead to higher U.S. tariffs on these components according to Reuters. The probe aims to protect U.S. semiconductor producers from China’s state-driven industry expansion and examines the impact of Chinese chips on critical sectors such as defense and automotive. The U.S. has already increased export restrictions on advanced AI and memory chips to China and imposed a 50% tariff on Chinese semiconductors starting Jan. 1, with the potential for higher tariffs in the future. China’s Commerce Ministry has criticized the U.S. investigation, stating that it will disrupt the global chip industry and supply chains. The broader context potentially includes escalating trade tensions between the U.S. and China, with China retaliating by restricting exports of critical minerals used in chip production. NVIDIA’s stock is rising amid the semiconductor industry’s response to these developments, reflecting optimism about reduced competition from Chinese producers and potential benefits for U.S. chipmakers. NVDA Price Action: Nvidia shares were up 3.24% at $139.06 at the time of writing, according to Benzinga Pro. Read next: Luigi Mangione, Suspected CEO Assassin, Pleads Not Guilty In New York Court Image Via Shutterstock. © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.Timeline: Assad's fall followed years of bloodshed and division
Criminal cases against incoming president Trump being droppedBreak out the Cristal! Retired two-time world boxing champion Floyd Mayweather Jr. has finally found a Manhattan residence — and for a glittering $100,000 a month, to boot. The boxer-turned-real estate investor, who boasts 30 million followers on social media, is renting a sprawling, high-floor duplex inside the Baccarat Hotel and Residences at 20 W. 53rd St., Gimme Shelter can reveal exclusively. Mayweather’s epic house hunt, which was chronicled by Gimme, took him all over the city and included a $150,000-a-month Soho bachelor pad owned by the founder and former CEO of Uber, Travis Kalanick — and a $49.5 million Gilded Age Midtown mansion off of Fifth Avenue. Ultimately, the father of four chose this five-bedroom perch that’s a sprawling 4,178 square feet. Known as the Gemstone Terrace, the residence is on the building’s 18th and 19th floors. It’s also around the corner from that Gilded Age mansion he toured at 9 W. 54th St. The neighborhood is convenient from a business perspective, a source said. His real estate portfolio currently includes 1,000 units of affordable housing as well as luxury assets in the city, as Gimme previously reported. “It’s a high price — a record — for a Midtown rental,” an industry source added. The corner residence comes with an eat-in chef’s kitchen, seven marble baths (five full, two half) and lots of room for entertaining — along with a massive 3,100 square feet of private outdoor space across a marble-capped terrace. As a Baccarat residential condo owner, Mayweather Jr. is also privy to Baccarat hotel services, including its gym, pool and concierge. The listing brokers are Ryan Garson and Brian K. Lewis of Compass, who declined to comment.
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