00:00Breaking news, China saying that the preliminary probe finds NVIDIA violated anti-monopoly laws.
00:06What exactly does that mean? What are the implications of this?
00:10I think the timing of this is not coincidental.
00:13The Chinese have launched two investigations over the weekend looking at the semiconductor sector.
00:18They're also just announcing this NVIDIA news as I can on to air.
00:24So it's very unclear what this is actually going to mean for NVIDIA.
00:26But I think basically what the Ministry of Commerce in Beijing and the Chinese government more broadly is doing is saying,
00:33obviously, Trump wants to do a deal on TikTok.
00:37We also have these various tools in our arsenal that we can threaten U.S. semiconductor companies and also Taiwanese companies like NVIDIA.
00:46The U.S. should be trying to make a deal with us in Madrid on what is being negotiated there right now.
00:54Obviously, you're seeing it's much broader than the semiconductor sector, though.
00:58China has made no purchases of soybeans so far this year.
01:01Usually, by this point, the Chinese, Kafka and the other state-owned commodities companies would be out buying soybeans as the U.S. is starting to harvest those.
01:10They haven't done that this year.
01:11That's another tool that Beijing is holding over Washington's head to try and force a trade deal, to try and force a reduction in tariffs.
01:17And I think all of these different investigations by both sides is an attempt to put their thumb on the scales in those talks and try and get a better deal for each of them.
01:29So what it actually means for the individual company remains to be seen.
01:32So what it actually means for the individual company remains to be seen.
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