Wall Street Breakfast Podcast: NVDA Plans China H20 Shipment

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Nvidia (NVDA) to resume H20 chip sales to China after U.S. assures export licenses. (00:25) Trade Desk (TTD) jumps after inclusion in S&P 500 index. (01:21) Tesla (TSLA) Model Y hits Indian market at $69,751 price tag. (01:53)

This is an abridged transcript.

Nvidia (NASDAQ:NVDA) said in a statement that it hopes to resume sales of its H20 GPUs to Chinese clients, citing U.S. government assurances that export licenses will be granted.

Sales had been halted in April despite the chips being designed to bypass export restrictions.

This follows a preliminary trade deal last month that sought China to resume rare earth exports and the U.S. to ease tech export restrictions.

Nvidia CEO Jensen Huang has criticized chip restrictions for hurting U.S. tech leadership and halving Nvidia’s China market share.

Huang also unveiled a new compliant chip, the RTX PRO, aimed at smart factories and logistics. He also recently met with President Trump to express support for U.S. job creation, onshoring, and AI leadership. In addition, he met with Chinese officials to promote safe AI collaboration.

The Trade Desk (NASDAQ:TTD) is up 15% in premarket action after the company has been included in the S&P 500 Index.

The digital advertising platform will replace ANSYS (NASDAQ:ANSS) in the S&P 500 effective before the opening of trading on Friday, July 18. Synopsys (SNPS) will acquire ANSYS in a deal expected to be completed on July 17.

Overall, the stock has lost over 35% so far this year, compared to the 6% rise in the S&P 500.

Tesla (NASDAQ:TSLA) has officially entered the Indian market with the launch of its Model Y electric SUV, priced at around ₹6 million ($69,751), according to a price catalog published on its website.

The Indian pricing is notably higher than in other major markets. In comparison, the Model Y starts at $44,990 in the U.S., 263,500 yuan (around $36,000) in China, and €45,970 (around $50,000) in Germany.

Tesla is offering two variants of the Model Y in India.

The launch marks a significant step for Tesla. The announcement comes amid broader discussions between Tesla and Indian authorities over potential investments in local manufacturing and supply chain development.

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Catalyst watch:

• Liberty Broadband Corporation (LBRDA) (LBRDK) (OTCQB:LBRDB) will complete the spinoff of its wholly owned subsidiary, GCI Liberty (GLIBA) (GLIBK) (GLIBB). Shareholders of record will receive 0.20 shares of each corresponding series of GCI Liberty stock for every one share of the same series of Liberty Broadband stock. Following the spinoff, GCI Liberty will be able to pursue growth strategies, capital allocation, and operational decisions independently, without competing for resources with Liberty Broadband.

Dow, S&P and Nasdaq futures are in mixed territory. Crude oil is down 0.2% at $66/barrel. Bitcoin is down 2.5% at $116,000. Gold is up 0.6% at $3,361.

The FTSE 100 is flat and the DAX is up 0.3%.

The biggest movers for the day premarket: La-Z-Boy (LZB) -6% — Shares fell after the company warned that FQ1 sales and adjusted operating margin will come in near the low end of its prior guidance, citing a “challenging consumer and macro environment.”

On today’s economic calendar:

• 8:30 am CPI

• 12:45 pm Federal Reserve Board Governor Michael Barr will speak before the “Unleashing a Financially Inclusive Future” conference hosted by the Federal Reserve.

• 1:00 pm Richmond Federal Reserve Bank President Thomas Barkin will speak on “Forecasting Beyond Today’s Data” before the Greater Baltimore Committee.

• 2:45 pm Boston Federal Reserve Bank President Susan Collins will speak on “A View from the Federal Reserve” before the National Association for Business Economics 22nd Annual Economic Measurement Seminar.