Hello, this is Justina Lee writing to you from Singapore. Welcome to another edition of CNBC's Daily Open.
President Donald Trump's administration is reportedly considering new tariffs on chips, while tech giant Nvidia is increasing support for Chinese artificial intelligence models.
Hardening its stance against Iran, the U.S. confirmed that it was not in talks with Tehran, even as diplomatic efforts by other countries were ongoing, raising concerns that the Middle-East conflict could carry on for longer.
Worries over the potential expansion of the Russia-Ukraine war have also increased, amid reports that CIA chief John Ratcliffe made a secretive trip to Moscow to warn Russia against attacking NATO.
Tariffs are back in the spotlight. The Trump administration is reportedly mulling over new duties on semiconductors, as the artificial intelligence infrastructure build-out race between the U.S. and China continues to intensify.
There is growing anxiety among U.S. lawmakers regarding the adoption of Chinese AI models by American companies, as they have made significant capability leaps this year.
Meanwhile, tech giant Nvidia, which added more than $400 billion in value following its blockbuster earnings, is increasing support for Chinese artificial intelligence models as it warns of a crackdown by the U.S.
South Korean memory maker SK Hynix is boosting its presence in the U.S. with a new factory in Indiana, an investment that predates, but aligns with South Korea's $350 billion investment pledge. CEO Kwak Noh-Jung said that the factory will make the state a "key HBM production base in America" by 2030.
Ratcheting up tensions with Canada, Trump on Thursday signed an executive order "immediately" renaming Lake Ontario to "Lake America."
In markets, the S&P 500 and the Nasdaq Composite closed higher overnight, as sentiment was supported by the latest earnings reports from Nvidia and other well-known technology companies. U.S. futures were little changed, while Asia markets were broadly mixed on Thursday.
Over in the Middle East, tensions between the U.S. and Iran continue to simmer, pushing oil prices higher after Washington confirmed that the U.S. was not in talks with Iran, even as there were diplomatic efforts by other countries.
There are also increasing concerns that the Russia-Ukraine war could escalate, amid reports that CIA chief John Ratcliffe have made a secretive Moscow trip to warn Russia against attacking NATO.
—Justina Lee
FDA approves daily HIV pill from Gilead designed to simplify treatment for some patients
The Food and Drug Administration approved a once-daily HIV pill from Gilead that could help simplify care for some patients, the company announced Thursday.
The drug, marketed as Bixlenvo, is aimed at patients whose virus is already under control but who remain on complicated treatment regimens. It could also appeal to those who simply want to switch to a new treatment alternative.
The tablet combines bictegravir, the backbone of Gilead's blockbuster HIV pill Biktarvy, with lenacapavir, a first-in-class capsid inhibitor that has become a centerpiece of the company's long-term strategy for HIV treatment and prevention.
—Annika Kim Constantino
