Nvidia China Ban; Baidu Jumps; Eli Lilly Lower
On this episode of Stock Movers:
- Nvidia (NVDA) is lower after China’s internet watchdog has instructed companies including Alibaba and ByteDance to terminate orders for Nvidia’s RTX Pro 6000D, the Financial Times reported. The Cyberspace Administration of China told companies to stop testing the chip and cancel existing orders, according to the FT.
- Baidu (BIDU) jumped in Hong Kong as optimism over its AI chip potential grows. The stock soared after Arete Research Services LLP lifted its rating on Baidu's American depositary receipts to buy from sell. Baidu's chip venture has the potential to more than offset the drag from its struggling online advertising business, according to Arete analysts.
- Eli Lilly (LLY) is down on news Novo Nordisk A/S is working on a strategy to make obesity treatment more personalized and wants to offer options for every kind of patient.
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