Nvidia to Invest $5 Billion in Intel 🚀

According to a Bloomberg report, the US is in talks to set up a $5 billion fund to invest in mining, marking what would be the government’s most significant push into dealmaking to secure critical mineral supplies.

The US International Development Finance Corp. is discussing the fund as a joint venture with New York-based investment firm Orion Resource Partners, the report stated.

🚀 Critical Projects: Created at the end of Trump’s first term, the DFC invested in mining projects, including a $150 million loan to Syrah Resources’ Mozambique graphite mine, a key Tesla supplier. Under Biden, it committed over $550 million to upgrade Africa’s Lobito Corridor railway, strengthening mineral exports from the copper belt to Angola’s Atlantic coast.

How will it work? The partnership would have both sides contribute equal funding, gradually building to a combined $5 billion aimed at mining investments and strengthening critical mineral supplies.

Why now? The proposed collaboration is fueled by concerns over securing critical minerals like copper, cobalt, and rare earths, amid growing unease about China’s dominance in processing and global mine acquisitions.

President Donald Trump is set to speak with Chinese President Xi Jinping on Friday to finalize a framework deal that would allow TikTok to keep operating in the U.S. Trump said the talks will also cover broader trade issues, adding that relations with China remain “very good.” The call follows four rounds of negotiations since May, during which both sides eased some tariffs and controls but left key disputes unresolved.

🤝 Change of Owners: According to reports, Trump and Xi are scheduled to speak at 9 a.m. Washington time, or 9 p.m. in Beijing, to discuss a framework agreement that would transfer control of TikTok’s U.S. operations from Chinese parent ByteDance Ltd. to a group of American investors.

✅ Trusting Time: Ahead of the talks, China has ended its antitrust investigation into Google, signaling a conciliatory move. The probe, launched earlier this year, focused on Google’s Android dominance and its impact on Chinese phone makers.

Nvidia announced it will invest $5 billion in Intel, becoming one of the chipmaker’s largest shareholders and signaling support for its turnaround efforts. The deal also includes a plan to co-develop chips for PCs and data centers, a move that could challenge rivals like AMD and Taiwan’s TSMC.

Nvidia will pay $23.28 per share, slightly below Intel’s last closing price but above the U.S. government’s recent purchase. The partnership allows Intel to design custom processors that will work seamlessly with Nvidia’s AI chips.

The collaboration also extends to consumer PCs, where Intel will pair its CPUs with Nvidia graphics chips. While Intel won’t yet manufacture Nvidia’s flagship processors — a crucial lifeline for its foundry business — the deal gives it new momentum after years of struggles.

Nvidia CEO Jensen Huang called the partnership a “fusion of two world-class platforms,” positioning it as a foundation for the next era of computing.

Air cargo shipments from India to the U.S. have sharply declined following the Trump administration’s move to double tariffs on Indian goods to 50% in late August. Cargo volumes dropped 12% the week the new tariffs took effect and slid another 14% in early September, according to WorldACD data.

The downturn followed a brief spike in late August, when exporters rushed to move goods before the tariffs hit. Spot air freight rates also slipped below $4 per kilogram for the first time in months, down 22% year-over-year.

India’s exports to the U.S. fell 14.4% in August to $6.86 billion, with textiles and apparel particularly affected. Shipments in that category fell 2.7% after a July surge tied to front-loading ahead of tariff deadlines.

China’s state trading firm COFCO has secured up to nine shipments of Australian canola, totaling about 540,000 tons, after slapping preliminary anti-dumping duties on imports from Canada. The 75.8% tariff, imposed in August, brought Canadian shipments to a near standstill, despite Canada being China’s main supplier in recent years.

The Australian deals, scheduled to load between November and January, amount to roughly 8% of China’s total canola imports last year. Reports stated that COFCO quietly bought the cargoes from several major firms.

Australia had been locked out of the Chinese market since 2020 due to biosecurity rules, but an agreement earlier this year reopened the door for trial cargoes.

Canola, also known as rapeseed, is crucial for producing cooking oil, while its byproduct is widely used as animal feed. China imported 6.4 million tons of canola last year, worth $3.4 billion, nearly all from Canada.

The tariff-driven flood of cargo into the ports of Los Angeles and Long Beach has come to an end. In August, the ports handled 944,832 import containers, down 6.6% from July’s record of over 1 million.

Port of Los Angeles chief Gene Seroka told the Wall Street Journal he expects further declines in September and October as retailers already stocked up ahead of new tariffs. “We’ve already seen the peak of the peak,” he noted.

The surge was fueled by shifting tariff policies that prompted retailers to rush goods earlier in the summer. The National Retail Federation’s Global Port Tracker estimates that U.S. ports handled record volumes this summer — 2.36 million import containers in July and 2.28 million in August. But by December, imports are forecast to fall to their lowest level in nearly three years.

British drugmaker GSK announced plans to invest $30 billion in the U.S. over the next five years, focusing on drug production, discovery, and clinical trials. The move comes as major pharmaceutical companies look to reinforce their U.S. presence in response to tariff threats and pricing pressure from the Trump administration.

The investment includes building a $1.2 billion biologics plant in Pennsylvania and upgrading existing sites in Pennsylvania, North Carolina, Maryland, and Montana. GSK began an $800 million expansion in Pennsylvania last year and expects construction on the new facility to start in 2026.

CEO Emma Walmsley highlighted the commitment during President Trump’s state visit to the U.K., calling the U.S. market vital for both science and healthcare innovation. The company joins peers like AstraZeneca, Eli Lilly, J&J, Roche, and Sanofi in boosting U.S. spending as Washington pushes for reshored drug manufacturing and lower domestic prices.

North American supply chains were running near full capacity in August as U.S. factories stockpiled raw materials and components to guard against tariff-related disruptions, according to the GEP Global Supply Chain Volatility Index. The region’s index improved to -0.03 from -0.33 in July, driven largely by heightened procurement in the U.S. consumer goods sector.

Globally, supply chain activity slowed, with the overall index edging down to -0.39 from -0.35 in July, reflecting underutilized capacity. Asia’s index slipped to a three-month low of -0.34 amid weaker demand in Japan and Taiwan. At the same time, Europe fell to -0.42 as factories cut purchases and destocked, led by a slowdown in Germany’s basic materials sector.

Freight rates for Very Large Crude Carriers (VLCCs) have climbed to their highest levels since late 2022, driven by rising Middle East exports and tighter vessel availability. The benchmark Middle East-to-China route hit W108 on the Worldscale index — equal to around $6.6 million per voyage — nearly 150% higher than at the start of 2025.

September crude exports from the Middle East are set to top 18 million barrels per day, the most since April 2023, following an OPEC+ output increase. Strong demand from Asia is also drawing in arbitrage supplies from the U.S., Brazil, and West Africa, keeping ships on longer voyages and straining tanker supply.

Shipbrokers say the shortage of available tonnage is helping shipowners secure strong earnings, with rates expected to hold firm through the end of the year. Analysts point to Saudi Arabia’s higher crude shipments and robust Dubai prices as key drivers.

China has barred its largest technology companies, including Alibaba and ByteDance, from purchasing Nvidia’s AI chips, escalating its push to build a self-reliant semiconductor industry. The Cyberspace Administration of China ordered firms to halt testing and orders of Nvidia’s RTX Pro 6000D, a chip customized for the Chinese market.

The ban expands earlier restrictions on Nvidia’s H20 chip and follows regulators’ conclusion that domestic processors now match or surpass the performance of Nvidia’s export-limited models. Several Chinese firms had been preparing to buy tens of thousands of Nvidia units before the directive.

The Panama Canal Authority (ACP) expects daily ship transits to average 33 next year, below the canal’s full capacity of 36, as tariff-driven trade volatility reshapes cargo flows. Administrator Ricaurte Vásquez said front-loading of goods into the U.S. this year and global uncertainty are limiting recovery, even after drought restrictions were lifted in 2024.

According to reports, container shipping, which makes up 45% of canal revenue, has been hit hard by shifting trade patterns tied to U.S. tariffs. The ACP has already lowered its fiscal 2026 forecast, anticipating 40 million fewer Panama Canal Universal Measurement System tons.

To strengthen resilience, the ACP unveiled an $8.5 billion modernization plan, including a new Indio River reservoir to boost water supply and a 47-mile LPG pipeline as part of a wider Interoceanic Energy Corridor.

The canal remains a geopolitical flashpoint, especially after a stalled $22.8 billion deal involving BlackRock, MSC, and CK Hutchison’s ports sparked antitrust scrutiny and legal challenges.

COSCO has pledged to keep stable transpacific coverage even as the U.S. prepares to impose new port fees on China-linked vessels starting October 14. The Chinese carrier acknowledged operational challenges but assured clients it would maintain competitive rates and capacity.

Analysts estimate the fees could cost COSCO and its subsidiary OOCL more than $2.1 billion in 2026, with COSCO facing a potential $1.5 billion hit — about 5% of forecast revenues. OOCL could see charges equal to 7% of its expected sales.

To offset the burden, COSCO may lean on Ocean Alliance partners CMA CGM and Evergreen, while rerouting some cargo through Mexico, Canada, or Caribbean hubs. The shift could tighten near-term capacity as operators hold onto older vessels rather than scrapping them.

The U.S. fees come as the number of China-built ships on U.S. routes has already dropped 20%, according to Drewry. Some analysts suggest the October 14 deadline may be extended or scrapped, as Washington and Beijing continue trade negotiations.