China Urges Local Firms to Avoid Nvidia H20 Chips | Bloomberg Tech 8/12/2025

Semiconductor Industry & Geopolitics - China is urging domestic companies to avoid using NVIDIA's H20 processors [1] - The U S government is potentially seeking a 50% revenue split on AI semiconductor sales from NVIDIA and AMD to re-enter China [1][36] - China may push back against H20 chips, potentially impacting demand and raising questions about other chips [1] - The U S administration may leverage export controls for new government revenues, potentially extending to other products beyond chips [1] - NVIDIA made a deal with the president, and analysts view it as a tactic in broader trade [1] - China is trying to protect its own domestic chip industry and seeking a better deal [5][28] - Circle's second-quarter revenue jumped 53% to $58 million [7] - Circle saw 90% year-over-year growth in USDC in circulation [8] - Circle's subscriptions and services fees grew 250% year-on-year [10] Tech Company Dynamics - Elon Musk accuses Apple of favoring OpenAI in the App Store [1][3] - Perplexity made an unsolicited bid of $345 billion to Google to purchase its Chrome browser [28][29] - GM is looking to restart development of new driverless cars [5]