TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and why China is investing U.S.-based Nvidia.
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00:00I'm Conway Gaines reporting from the New York Stock Exchange.
00:02Here's what we're watching on the street today.
00:05Wall Street is keeping a watchful eye on energy prices.
00:08Oil is trading higher Monday after the Bashar al-Assad regime was toppled in Syria.
00:14Investors are wondering how this might shake up geopolitics in the oil-rich Middle East.
00:19In other business headlines, a battle for dominance in the semiconductor world is heating
00:23up between China and the United States.
00:27China has opened an investigation into Wall Street AI chip darling NVIDIA for possible
00:32anti-competitive practices.
00:34The probe, while not specific, revolves around NVIDIA's purchase of an Israeli company called
00:39Mellanox.
00:41Chinese authorities claim the deal could be a violation of its anti-monopoly laws.
00:47NVIDIA right now is arguably the most visible leader in the battle to supply chips for artificial
00:52intelligence.
00:53It is dominating the market and is seen as a symbol of American innovation.
00:58For that reason, Beijing may see NVIDIA as a pawn in a long-running battle with the U.S.
01:04over which country will lead the AI revolution.
01:07In December, the outgoing Biden administration pushed through a third round of Chinese sales
01:13restrictions.
01:14Washington has expressed deep concern that Beijing may use AI chips to gain a military
01:20advantage.
01:21There are also concerns China could be trying to steal vital AI software.
01:26China has retaliated by banning exports to the U.S. of certain raw materials that are
01:32used to make semiconductors.
01:34That will do it for your daily briefing from the New York Stock Exchange.
01:37I'm Conway Giddens with the Street.