Key Takeaways
- Nvidia (NVDA) faces the imminent conclusion of a high-stakes antitrust probe by the French Competition Authority, which could lead to formal charges regarding its dominance in the AI chip market.
- US Central Command (CENTCOM) launched a major wave of strikes against 90 military sites in Iran, including critical railway infrastructure, in response to threats against commercial shipping in the Strait of Hormuz.
- Kuwait successfully intercepted a barrage of ballistic missiles and drones in its airspace, reporting damage to power infrastructure from falling shrapnel but no casualties.
- China has set a new national target for New Energy Vehicles (NEVs) to account for 30% of total vehicle ownership by 2030, as part of a broader push to accelerate the adjustment of its energy mix.
- EU Foreign Ministers are prepared to approve a fresh round of sanctions on July 13 targeting companies and individuals involved in the supply chain for Russian attack drones.
Tech and Antitrust: Nvidia Probe Nears Conclusion
The French Competition Authority announced on Thursday that its long-running investigation into chipmaker Nvidia (NVDA) is nearing its end. The agency’s general rapporteur, Umberto Berkani, confirmed the development following a probe into alleged anti-competitive practices that began with a dawn raid in 2023.
The investigation has focused on Nvidia's overwhelming dominance in the Artificial Intelligence (AI) chip sector and its cloud partnership agreements. If the authority finds evidence of market abuse, the company could face significant fines or be forced to modify its business practices in the European market.
Geopolitical Escalation: US Strikes and Kuwaiti Interceptions
Tensions in the Middle East reached a new peak as the United States conducted extensive strikes against Iranian targets. According to CENTCOM, the operation targeted 90 sites, including air defense systems and drone storage. Reports from Iran’s Fars News Agency indicated that a critical railway bridge in northern Iran, used for trade routes with China and Russia, was among the infrastructure hit.
Simultaneously, the Kuwaiti Army announced the interception of 3 ballistic missiles, a cruise missile, and 10 hostile drones. While the interceptions prevented direct hits on major targets, the Ministry of Electricity reported that shrapnel caused temporary outages by damaging overhead power lines.
Corporate Restructuring: Vestel Seeks Debt Relief
In Turkey, electronics giant Vestel Elektronik (VESTL.IS) and its subsidiary Vestel Beyaz Esya (VESBE.IS) have officially applied for financial restructuring. The companies aim to align their repayment schedules and maturity structures with current cash flows to manage a debt burden estimated at approximately $4 billion.
The move follows a credit rating downgrade by Fitch Ratings, which recently lowered Vestel's long-term foreign-currency rating to 'CCC-'. Investors responded positively to the restructuring news, with shares of both companies surging nearly 10% on the Istanbul exchange as the market anticipates a more sustainable financial structure.
Energy and Environment: China’s 2030 NEV Vision
The State Council of China has unveiled an ambitious plan to increase the share of New Energy Vehicles (NEVs) to 30% of total vehicle ownership by 2030. This target represents a significant leap from the 12% ownership level recorded at the end of 2025.
The policy shift is part of a broader Xinhua report detailing China's intent to accelerate the adjustment of its energy mix. The government is also considering new tax measures to curb the trend of "vehicle obesity"—the increasing weight of EVs—to reduce road wear and resource waste.
Diplomatic Oddities: NATO Summit Gifts
In a lighter but notable diplomatic development, British Prime Minister Keir Starmer was among the NATO leaders gifted a personalized revolver and live ammunition by Turkish President Recep Tayyip Erdogan. Due to strict UK firearm laws, the weapon remains with British officials in Turkey and must be decommissioned before it can be legally transported to the United Kingdom.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.