China Targets Nvidia | Elon Musk's Efficiency Drive | New Xiaomi SUV

China targets Nvidia with antitrust probe, escalating US chip tensions

China has launched an investigation into Nvidia over suspected violations of its anti-monopoly laws.

The probe is seen as a retaliatory action against recent U.S. restrictions on China's semiconductor industry.

Nvidia is also suspected of violating commitments made during its acquisition of Mellanox Technologies in 2020.

Nvidia's shares fell by 2.2% in pre-market trading following the announcement of the investigation. [Learn more]

Trump's Musk-led efficiency drive may spur defense-tech partnerships

President-elect Donald Trump's efficiency drive, led by Elon Musk, aims to streamline government operations and reduce bureaucracy.

The initiative could lead to more joint projects between major defense contractors and smaller tech firms specializing in AI, drones, and uncrewed submarines.

Musk's involvement is expected to target Pentagon spending and priorities, causing anxiety among established defense giants.

Smaller tech firms are optimistic about increased collaboration, potentially disrupting the defense industry and accelerating innovation. [Learn more]

China's Xiaomi to launch new SUV next summer amid rising demands

Xiaomi plans to launch its first SUV, the YU7, next summer (June or July 2025).

The YU7 is a pure electric SUV with a top speed of 253 km/h, designed to resemble Xiaomi's first electric vehicle, the SU7 sedan.

The SUV will be powered by batteries produced by a unit of China's CATL.

Xiaomi aims to meet surging demand by raising its EV delivery target to 130,000 units this year. [Learn more]

Market Updates

• China announces first monetary policy change since 2010 to stimulate growth.

• S&P 500, Nasdaq marginally lower as chip stocks fall; focus on inflation data.

• China's Nov exports likely grew 8.5% as factories shift stocks overseas.

Joke of the Day!

What do you call a pig that practices karate?

A pork chop.

Generative AI Photo of the Day!

Prompt: A breathtaking mountain range with sharp, towering peaks covered in a thick layer of shimmering ice. The mountain slopes are adorned with intricate, frosty patterns and glacial crevices. A serene, frozen lake rests at the foot of the mountains, perfectly mirroring the majestic icy giants above. The sky is a brilliant blue, with fluffy clouds gently drifting by, and the golden rays of the setting sun cast a warm glow, highlighting the stunning details of the icy landscape.