U.S. adds Tencent, Huawei to Chinese military list
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 7 January 2025
⏱️ 6 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning. |
| 0:08.0 | Good morning. Today is Tuesday, January 7th. I'm Julie Morgan. The DOD is adding to its list of Chinese military companies. |
| 0:17.8 | Uber and Invidia are collaborating and natural gas surges as the cold weather settles in. |
| 0:25.6 | The U.S. Department of Defense has added 10-cent, Huawei, and AI firm since time to its list of |
| 0:32.2 | Chinese military companies. Tencent's Hong Kong listed share slid nearly 8% on Tuesday, and its ADRs ended 7.8% lower on Monday. |
| 0:43.2 | CATL, whose EV battery technology is used by Tesla and Ford, was also designated as a Chinese |
| 0:49.9 | military company, and its Shenzhen listed shares fell 2.8% on Tuesday. Other firms added to the so-called |
| 0:57.5 | 1260H list, which is updated annually, include contract chipmaker SMIC, Costco shipping, and CNOC. The companies can |
| 1:08.2 | request reconsideration of the DOD's decision with supporting evidence as to why they should be removed from the list. |
| 1:16.0 | CATL said it has never engaged in any military related activities and the company will actively engage with the DOD to address the false designation, |
| 1:26.4 | including legal action if necessary. |
| 1:29.2 | According to the DoD, the list is an important continuing effort encountering Beijing's |
| 1:34.6 | military civil fusion strategy, which ensures the Chinese military can acquire advanced technologies |
| 1:41.0 | and expertise developed by Chinese companies and research programs that |
| 1:45.5 | appear to be civilian entities. Uber Technologies has entered into a strategic partnership with |
| 1:52.7 | NVIDIA aimed at accelerating the development of AI-powered autonomous driving technology. |
| 1:58.4 | This collaboration will leverage Uber's vast data for millions of daily trips, |
| 2:03.2 | alongside Nvidia's advanced platforms, specifically the Cosmos and DGX cloud systems. The CEO of Uber |
| 2:11.1 | said in a statement that by working with Nvidia, they're confident that they can help supercharge |
| 2:16.6 | the timeline for safe and |
| 2:18.4 | scalable autonomous driving solutions for the industry. |
| 2:22.2 | NVIDIA closed 3.4% higher on Monday and is up nearly 1.5% pre-market. |
... |
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