howard lutnick

In a surprising move, the Trump administration announced in August 2026 that the U.S. government acquired a 10% stake in chipmaker Intel, valued at approximately $11 billion. This equity was reportedly secured in exchange for federal grants, with President Trump expressing satisfaction with the deal, which he believes strengthens American technological leadership.

IBM is set to receive $1 billion from the US government as part of a $2 billion quantum computing funding package. This investment, aimed at bolstering domestic manufacturing and accelerating development in strategic technology sectors, includes minority equity stakes for the government.

US approved major Chinese tech giants like Alibaba and Tencent to acquire Nvidia's advanced H200 AI chips. However, no sales have materialized as Beijing reportedly discourages domestic firms from buying foreign technology, prioritizing the development of its own chip industry, particularly Huawei's. Nvidia's CEO is now in China, hoping for a breakthrough.

Nvidia CEO Jensen Huang joined Donald Trump's Beijing summit at the last minute, boarding Air Force One in Alaska, but China still won't approve H200 AI chip purchases. Trump said Beijing "chose not to" because it wants homegrown silicon. With DeepSeek now running on Huawei chips and 10 cleared Chinese firms yet to place orders, Nvidia's China stalemate looks set to drag on.

Apple has reportedly reached a preliminary agreement with Intel to manufacture some of its chips, potentially easing supply chain constraints. This deal would mark a significant shift, with Intel's 18A-P node being the likely target for Apple's lower-end M processors. The agreement could boost Intel's foundry business and provide Apple with a crucial second manufacturing source.

The Trump administration's 'Gold Card' visa program, offering US residency for a $1 million fee, has approved only one applicant to date. Commerce Secretary howard lutnick stated hundreds more are under review, with all applicants undergoing extensive vetting and paying a $15,000 processing fee. The initiative aims to attract wealthy and skilled individuals to the US.

US Commerce Secretary howard lutnick stated that Nvidia's H200 AI chips have not yet been sold to China, attributing the delay to Beijing's efforts to boost its domestic industry. Despite earlier Trump administration approval, China's central government is reportedly blocking purchases to encourage investment in homegrown alternatives, such as those from Huawei.

Donald Trump has landed in Beijing with 17 American companies in tow, worth a combined $16.47 trillion—roughly 90% of China's entire 2025 GDP. Jensen Huang joined at the last minute, boarding Air Force One in Anchorage. Nvidia and Apple alone account for $9.7 trillion of that, while Meta sent its policy chief after Beijing blocked its $2 billion Manus deal.

US lawmakers express concern over Elon Musk's Starlink potentially failing to meet broadband program commitments. Democrats are questioning if Starlink can adhere to grant conditions after requesting modifications. The government insists on mandatory standards for the program. This situation could impact millions of underserved families relying on the service.

US President Trump is reportedly considering a significant Cabinet reshuffle amid growing concerns over the Iran war's political fallout and rising fuel prices. Frustration over falling approval ratings and midterm election anxieties are fueling discussions about replacing senior officials, including intelligence chief Tulsi Gabbard and commerce secretary howard lutnick. The administration faces pressure to project strength and address economic worries.

Universities nationwide are re-evaluating donor legacies, particularly those linked to Jeffrey Epstein. Protests at Ohio State and Harvard demand the removal of Les Wexner's name from campus buildings due to his past association with Epstein. This growing pressure forces institutions to balance philanthropic contributions with evolving public standards and survivor experiences.

Iran's Revolutionary Guard has issued a chilling video threat to bomb the massive Stargate AI data center in Abu Dhabi, a $30 billion project backed by US tech giants like Nvidia and OpenAI. This move signals a potential shift towards targeting high-value Western tech assets in the Gulf amidst escalating regional tensions, highlighting the growing vulnerability of digital infrastructure.

Lutnick gained national attention when 658 of his employees and his brother died in the 2001 World Trade Center attack. He rebuilt Cantor Fitzgerald almost from ashes. 63-year-old Lutnick had been in the running to be Treasury secretary but Donald Trump reportedly soured on him due to infighting between Lutnick and other prominent candidates for the job, including financier Scott Bessent.

US senators are demanding Nvidia's export licenses for advanced AI chips to China be suspended following a major smuggling scandal. Citing "potentially misleading" assurances from Nvidia CEO Jensen Huang, they argue the company's monitoring is inadequate. The senators want a ban on sales to intermediaries in several Southeast Asian nations, highlighting national security concerns.

SoftBank is investing a colossal $500 billion into a single AI data center campus in Ohio, potentially the largest construction project in US history. Part of the 'Stargate' venture, this massive facility aims to power millions of homes and is seen as crucial in the AI race with China. Initial costs are estimated between $30-40 billion.

Apple CEO Tim Cook told Commerce Secretary howard lutnick that advanced robotics are essential for bringing iPhone manufacturing to the U.S. Amid tariff concerns, Apple secured a temporary exemption, aiding stock recovery. While diversifying production to India, challenges persist with Chinese export approvals, framing this shift as part of an AI-driven industrial revolution with high-paying technician jobs.

The Trump administration is pushing Taiwan to shift semiconductor production to the US, aiming for a 50-50 split in manufacturing. Commerce Secretary howard lutnick stated this strategy seeks to reduce American reliance on Taiwan, citing security concerns due to its proximity to China. Lutnick also dismissed the "Silicon Shield" theory, suggesting balanced production would better secure Taiwan.