The Trump administration will receive 15% of the sales of Nvidia’s H20 chips and AMD’s MI308 chips, according to people familiar with the matter. The full terms of any deal weren’t clear Monday. AMD and Nvidia dropped 0.3%.
Meanwhile, Intel’s chief executive visited the White House on Monday, after Trump singled him out for his China ties last week and called for his removal. Intel shares climbed, and Trump later remarked, “The meeting was a very interesting one. His success and rise is an amazing story.”
The Dow Industrials fell, while the Nasdaq Composite and the S&P 500 were little changed.
European stocks edged lower. The region’s defense stocks fell ahead of Friday’s meeting between Trump and Russian President Vladimir Putin to discuss a Ukraine cease-fire.
Gold futures dropped 2.5%. Prices spiked late last week on reports that Swiss gold bars could face 39% tariffs.
Soybean prices rallied after Trump floated the idea of China quadrupling its soybean imports from the U.S.
Bitcoin rose to around $120,000, boosting crypto stocks such as Coinbase and MicroStrategy.
