Shopify to Transition US Listing from NYSE to Nasdaq
Canadian e-commerce platform Shopify announces plans to move its US listing from the New York Stock Exchange to the Nasdaq, effective March 31.
Taylor Brooks
The Trump administration has taken a significant step to restrict China's access to advanced US computing technology, adding 80 organizations to a trading export blacklist. The move, announced by the US Department of Commerce's Bureau of Industry and Security (BIS), is the latest attempt to prevent foreign militaries from utilizing cutting-edge American chips.
The new restrictions have been applied to entities that acted "contrary to US national security and foreign policy," according to BIS. More than 50 of the newly blacklisted entities are based in China, with others located in Iran, Taiwan, Pakistan, South Africa, and the United Arab Emirates. The restrictions are intended to hinder China's ability to develop high-performance computing capabilities, quantum technologies, advanced artificial intelligence, and hypersonic weapons.
Among the blacklisted entities are six subsidiaries of Inspur Group, China's leading cloud computing service provider and a major customer for US chip makers such as Nvidia, AMD, and Intel. BIS alleges that Inspur Group had contributed to projects developing supercomputers for the Chinese military. The Beijing Academy of Artificial Intelligence has also been added to the list, which has criticized its inclusion, stating that it is a "private non-profit scientific research institution" and that the decision is "without any factual basis."
China's Foreign Ministry has condemned the export controls, saying the blacklist expansion "seriously violates international law and basic norms of international relations." The updated export restrictions come amid already heated tensions between the US and China, with President Trump having imposed sweeping new tariffs against goods coming from the country since taking office.
The move is seen as a significant escalation in the ongoing tech cold war between the US and China. The Trump administration has been increasingly wary of China's growing technological capabilities, particularly in the areas of artificial intelligence, quantum computing, and hypersonic weapons. By restricting access to advanced US computing technology, the administration aims to prevent China from using these technologies for military purposes.
Industry groups and companies such as Nvidia have previously objected to the restrictions, arguing that they will harm the US tech industry and drive business to other countries. However, the Trump administration remains committed to its strategy, with Under Secretary of Commerce for Industry and Security Jeffrey Kessler stating that "American technology should never be used against the American people."
The implications of the expanded export blacklist are far-reaching, with potential consequences for the global tech industry, international relations, and national security. As the tech rivalry between the US and China continues to intensify, it remains to be seen how this move will impact the balance of power in the industry and beyond.
Canadian e-commerce platform Shopify announces plans to move its US listing from the New York Stock Exchange to the Nasdaq, effective March 31.
Valve releases corrective update for Steam Deck client, resolving boot loops and performance setting issues caused by previous update.
Over 12,000 GitHub repositories compromised in 'Click-fix' phishing campaign, allowing attackers full account takeover
Copyright © 2024 Starfolk. All rights reserved.