Major market movements are underway as tech giants Nvidia (NVDA) and AMD (AMD) see their shares jump on news of resumed AI chip exports to China. Meanwhile, mining behemoth Rio Tinto (RIO) has released its second-quarter production highlights, Westinghouse is planning a significant expansion in U.S. nuclear power, and activist investor Elliott has built a substantial position in Global Payments (GPN).
AI Chip Exports to China Boost Nvidia and AMD
Shares of leading artificial intelligence chipmakers Nvidia (NVDA) and Advanced Micro Devices (AMD) experienced a significant surge following reports that the U.S. government is set to resume issuing licenses for AI chip exports to China. This development marks a crucial reversal of export controls that had previously impacted both companies' revenue streams in the vital Chinese market.
Nvidia (NVDA) confirmed it is filing applications to sell its H20 GPU again, with assurances from the U.S. government that licenses will be granted, and deliveries are expected to commence soon. The company also previewed a new "fully compliant" RTX PRO AI chip for the Chinese market. Similarly, AMD (AMD) confirmed it will restart shipments of its MI308 AI processors to China after receiving clearance for export license reviews. This policy shift is anticipated to ease financial pressures on chipmakers and allow them to regain access to a key growth market.
Rio Tinto Reports Q2 2025 Production Highlights
Global mining giant Rio Tinto (RIO) has released its second-quarter production highlights for 2025, showcasing robust performance across its key commodities. The company reported Pilbara iron ore shipments (100% basis) of 79.9 million tonnes. Pilbara iron ore production (100% basis) for the quarter reached 83.7 million tonnes.
In copper production, Rio Tinto (RIO) achieved 229 thousand tonnes on a consolidated basis. The company also provided an update on its Simandou project, noting that the first shipment has been accelerated.
Westinghouse Plans Major U.S. Nuclear Reactor Expansion
Westinghouse Electric Company is reportedly planning to construct 10 large nuclear reactors in the United States. This ambitious initiative was conveyed by Westinghouse's interim CEO to former President Donald Trump. The move comes in response to presidential executive orders aimed at accelerating the deployment of nuclear power and streamlining licensing processes.
Westinghouse's interim CEO, Dan Sumner, indicated that the company is "uniquely positioned" to meet these goals, citing its approved reactor design, viable supply chain, and recent experience building AP1000 reactors in Georgia. The proposed expansion could significantly boost domestic nuclear power generation.
Elliott Management Builds Sizable Stake in Global Payments
Activist investor Elliott Management has amassed a significant position in payments services company Global Payments (GPN). The investment by the prominent hedge fund follows Global Payments' recent $24.25 billion deal to acquire Worldpay from FIS and GTCR.
While the exact size of Elliott's stake and its specific demands have not been publicly disclosed, the hedge fund's involvement could influence how Global Payments (GPN) integrates Worldpay into its broader business operations. Shares of Global Payments (GPN) rose following the report of Elliott's stake.
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.