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Andy Murray to coach long-time rival Novak Djokovic at Australian OpenShares of Nvidia fell Monday after China said it is investigating the high-flying U.S. microchip company over suspected violations of Chinese anti-monopoly laws. In a brief news release with few details, Chinese regulators appear to be focusing on Nvidia's $6.9 billion acquisition of network and data transmission company Mellanox in 2019. Nvidia shares about 3% Monday. They are still up 179% so far this year. Considered a bellwether for artificial intelligence demand, Nvidia has led the AI sector to become one of the stock market’s biggest companies , as tech giants spend heavily on the company’s chips and data centers needed to train and operate their AI systems. Nvidia's shares have surged this year along with the California company's revenue and profit due to AI demand. According to data firm FactSet, about 16% of Nvidia's revenue comes from China, second only to its U.S.-generated revenue. A spokesperson for the company based in Santa Clara, California, said in an emailed statement that Nvidia is “happy to answer any questions regulators may have about our business.” In its most recent earnings release, Nvidia posted revenue of $35.08 billion, up 94% from $18.12 billion a year ago. Nvidia earned $19.31 billion in the quarter, more than double the $9.24 billion it posted in last year’s third quarter. The earnings release did not break out revenue from China. The company's market value rocketed to $3.5 trillion recently, passing Microsoft and briefly overtaking Apple as the world's most valuable company. China’s antitrust investigation follows a report this summer by technology news site The Information that the U.S. Justice Department was investigating complaints from rivals that Nvidia was abusing its market dominance in the chip sector. The allegations reported include Nvidia threatening to punish those who buy products from both itself and its competitors at the same time. David Bieri, an international finance expert at Virginia Tech, said that China’s investigation is “not about what Nvidia is doing in China, per se” but rather a signal to the incoming Trump administration. China, Bieri said, is looking to set the tone of future relations. The Chinese government, he said, is telling the U.S. “don’t mess with us, because all of your darling corporations that your version of capitalism needs to prosper have entanglements” with China. Nvidia will have to revise its strategy in China or come up with provisions in their budgets for the type of uncertainty business with China will bring, Bieri said. “I don’t think this is something that they can shake off,” he said. “I also have a tremendous amount of faith in the brilliance of the management strategy of a corporation like Nvidia to not only pay attention to credit risk, market risk and operational risk, but also to political risk.” Nvidia’s invention of graphics processor chips, or GPUs, in 1999 helped spark the growth of the PC gaming market and redefined computer graphics. Last month, it replaced Intel on the Dow Jones Industrial Average, ending the pioneering semiconductor company's 25-year run on the index. Unlike Intel, Nvidia designs but doesn’t manufacture its own chips, relying heavily on Taiwan Semiconductor Manufacturing Co., an Intel rival. Associated Press Technology Writer Sarah Parvini in Los Angeles contributed to this report.
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NoneCHEYENNE, Wyo. , Dec. 6, 2024 /PRNewswire/ -- U.S. Gold Corp. ("U.S. Gold," the "Company," "we," "our" or "us") (NASDAQ: USAU ), is pleased to announce that it has closed the previously announced purchase and sale of an aggregate of 1,457,700 shares of our common stock at $7.00 per share and warrants to purchase 728,850 shares of our common stock at an exercise price of $9.50 per share (the "Transaction"), in a registered direct offering. The aggregate gross proceeds from the Transaction totaled approximately $10.2 million and closed on December 6, 2024 . After the close of the Transaction, the Company's common shares outstanding is 12,323,116. The Company did not retain a placement agent in connection with the Transaction. U.S. Gold intends to use the net proceeds from the Transaction for working capital and other general corporate purposes. About U.S. Gold Corp. U.S. Gold Corp. is a publicly traded, U.S. focused gold and copper exploration and development company. Its fully permitted CK Gold Project is located in Southeast Wyoming and has a Preliminary Feasibility Study technical report, which was completed by Gustavson Associates, LLC. In addition, the Company has two exploration projects: Keystone Gold located on the Cortez Trend in Nevada about 11 miles south of Nevada Gold Mines' Cortez Hills Complex, and Challis Gold located in Idaho . For more information about U.S. Gold Corp., please visit https://www.usgoldcorp.gold/ . Cautionary Note Regarding Forward-Looking Statements Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as "anticipate," "believe," "forecast," "estimated," and "intend," among others. These forward-looking statements include statements related to our intended use of the net proceeds from the Transaction. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, risks arising from: market and other conditions, the prevailing market conditions for metal prices and mining industry cost inputs, environmental and regulatory risks, COVID-19 risks, changes in interpretations of geological, geostatistical, metallurgical, mining or processing information, risks faced by junior companies generally engaged in exploration activities, whether U.S. Gold Corp. will be able to raise sufficient capital to develop the CK Gold Project and implement future drilling programs, the success or failure of future drilling programs, and other factors described in the Company's most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K filed with the Securities and Exchange Commission, which can be reviewed at www.sec.gov . The Company has based these forward-looking statements on its current expectations and assumptions about future events. While management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory, and other risks, contingencies, and uncertainties, most of which are difficult to predict and many of which are beyond the Company's control. The Company undertakes no duty to correct or update any information contained herein. For additional information, please contact: U.S. Gold Corp. Investor Relations +1 800 557 4550 ir@usgoldcorp.gold www.usgoldcorp.gold View original content to download multimedia: https://www.prnewswire.com/news-releases/us-gold-corp-closes-10-2-million-non-brokered-registered-direct-offering-302325325.html SOURCE U.S. Gold Corp.
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It’s not often in this cruel, vicious world that you get the chance to experience a moment of true catharsis. Luckily for us, Laura Benanti , master of the stage, is here to provide exactly that. Benanti verbally destroyed RFK Jr.-supporter-to-Trump-supporter-pipeline participant Zachary Levi on That’s a Gay Ass Podcast on December 4. Benanti starred alongside Levi and the recently and tragically deceased Gavin Creel in 2016’s She Loves Me revival. In the wake of Creel’s death, Levi began peddling conspiracy theories on social media that Creel died because he got the COVID vaccine. “I never liked him,” Benanti said. “Everyone was like, ‘He’s so great,’ and I was like, ‘No, he’s not. He’s sucking up all the fucking energy in this room, and he wants to mansplain everybody’s part to them.’” Honestly: Get his ass. “I never liked him” -@Laura Benanti (full ep in bayou) #broadway #playbill #zacharylevi #broadwaymusical #theaterkid #podcast The most searing part of Benanti’s diatribe came when she discussed Levi’s tribute to Creel. “To use [Creel’s] memory for his political agenda, and to watch him try to make himself cry until he had one single tear, which he did not wipe away, I was like, ‘Fuck you forever,’” Benanti added. Now’s a good time to remember Zachary Levi’s voice cracked in a very conspicuous and embarrassing way during the She Loves Me Tony performance . Somehow, it made everybody else, including national treasures Benanti, Creel, and Jane Krakowski, look even better.