Core Viewpoint - The ongoing trade tensions between the US and China are escalating, particularly affecting the semiconductor industry, with Qualcomm facing an antitrust investigation in China and potential repercussions for its business operations [2][5][11]. Company Impact - Qualcomm's stock has dropped nearly 5% following the announcement of an antitrust probe into its acquisition of Auto Talks, indicating investor concern over the implications of the trade war [2][11]. - The investigation suggests that Qualcomm may have violated anti-monopoly rules, which could jeopardize its business relationships with major Chinese brands like Xiaomi [3][5]. - Nvidia is also under pressure, having been accused of breaching antitrust laws in China, and facing restrictions on domestic firms purchasing its AI chips [4][5]. Industry Dynamics - The trade war is prompting China to accelerate its efforts to become self-sufficient in semiconductor technology, with local companies like Alibaba reportedly increasing their reliance on domestic chip production [5][7]. - The situation highlights the strategic importance of semiconductor technology in the broader context of US-China relations, with chipmakers becoming critical negotiating tools in the trade conflict [12][13]. - The potential for Nvidia to reopen its supply chain to China is seen as a key factor in its future performance, with upcoming earnings reports expected to reflect the impact of these trade tensions [11][12].

The Dow up about 210 points. We have a news alert right now on Elon Musk's XAI. Mackenzie Sagalos has those details for us.McKenzie, what are you learning. So, Contessa, Elon Musk is taking on Apple and Open AI in court. His AI company XAI just sued both tech giants in federal court, alleging that they've colluded to freeze out competition.Now, the complaint, which was filed this morning in Texas, claims that Apple's exclusive integration of Chat GBT into iPhones is an illegal antirust scheme that blocks ou ...