Chipmaker

On Monday, chipmaker Nvidia (NVDA) cut its sales outlook for the fourth quarter, citing “deteriorating macroeconomic conditions, particularly in China.” Last week, Intel’s (INTC) CEO also noted that “trade and macro concerns, especially in China, have intensified.”

Japan's Prime Minister Fumio Kishida meets executives of major global chipmakers ahead of a G7 summit.

Nvidia, the world’s most valuable publicly traded company, said on Monday that it would invest $100 billion in OpenAI, a deal that will allow the start-up behind ChatGPT to use the chipmaker’s artificial intelligence semiconductors inside its data centers.