Nvidia Faces Scrutiny Over US Chip-Smuggling Probe as AI Stocks Rebound

Nvidia faces fresh scrutiny over its role in a US chip-smuggling investigation, while Asian AI-linked shares rebound. The company is also under pressure from concerns around China exposure, even as investors return to chipmakers after the recent selloff. Al Dhabi Capital’s Rashmi Garg says she remains cautiously constructive on Nvidia. Oil falls toward August lows as hopes for US-Iran diplomacy improve. Trump says military action against Iran may not be necessary, while talks continue around Hormuz and wider regional de-escalation. UAE adviser Anwar Gargash warns the region should still prepare for a prolonged period of uncertainty. ADNOC Gas reports stronger-than-expected third-quarter profit, supported by growth across its businesses. CFO Peter van Driel says the company is still evaluating opportunities in Fujairah. FAB is also reported to be considering a multibillion-dollar rights issue. Russia and Ukraine send delegations to Abu Dhabi for US-mediated talks, while Washington continues to push diplomacy with Iran. Anthropic withdraws an IPO filing, adding to uncertainty around the AI funding cycle. Jane Fraser of Citi discusses the AI buildout and says sentiment around the technology appears more positive in China than in the US. China’s imports expand at their fastest pace since 2021 and the trade surplus tops $1 trillion again. Moonshot is also reported to be renting Nvidia’s most advanced AI chips in China. Elsewhere, QatarEnergy buys a 25% stake in a Chevron exploration block in Namibia, the Ugandan shilling weakens after rates are left unchanged, and Emirates President Tim Clark says the war has delayed his retirement plans. Guests includes Rashmi Garg, Al Dhabi Capital Senior Portfolio Manager and Peter van Driel, ADNOC Gas CFO. Horizons Middle East & Africa is your daily spotlight on one of the world's fastest-growing regions. Live from Dubai, we bring you the latest global markets and analysis, plus news-making interviews, with a special focus on MEA. All that and more, as you head to the office in the Gulf, pause for lunch in Hong Kong, or start your day in London or Johannesburg. Chapters: 00:00:00 - Introduction 00:04:51 - Nvidia Intervened in US Chip-Smuggling Probe 00:09:41 - Rashmi Garg, Al Dhabi Capital Senior Portfolio Manager 00:15:51 - Peter van Driel, ADNOC Gas CFO 00:28:36 - US-Iran Diplomacy Gains Momentum 00:31:49 - Russia, Ukraine Envoys Meet for Talks in UAE 00:34:31 - Anthropic Set to IPO Despite AI Concerns 00:38:20 - Jane Fraser, Citi Chair & CEO 00:42:10 - QatarEnergy Adds Chevron Block in Namibia -------- More on Bloomberg Television and Markets Like this video? Subscribe and turn on notifications so you don't miss any videos from Bloomberg Markets & Finance: https://tinyurl.com/ysu5b8a9 Visit http://www.bloomberg.com for business news & analysis, up-to-the-minute market data, features, profiles and more. Connect with Bloomberg Television on: X: https://twitter.com/BloombergTV Facebook: https://www.facebook.com/BloombergTelevision Instagram: https://www.instagram.com/bloombergtv/ Connect with Bloomberg Business on: X: https://twitter.com/business Facebook: https://www.facebook.com/bloombergbusiness Instagram: https://www.instagram.com/bloombergbusiness/ TikTok: https://www.tiktok.com/@bloombergbusiness?lang=en Reddit: https://www.reddit.com/r/bloomberg/ LinkedIn: https://www.linkedin.com/company/bloomberg-news/ More from Bloomberg: Bloomberg Radio: https://twitter.com/BloombergRadio Bloomberg Surveillance: https://twitter.com/bsurveillance Bloomberg Politics: https://twitter.com/bpolitics Bloomberg Originals: https://twitter.com/bbgoriginals Watch more on YouTube: Bloomberg Technology: https://www.youtube.com/@BloombergTechnology Bloomberg Originals: https://www.youtube.com/@business Bloomberg Quicktake: https://www.youtube.com/@BloombergQuicktake Bloomberg Espanol: https://www.youtube.com/@bloomberg_espanol Bloomberg Podcasts: https://www.youtube.com/@BloombergPodcasts