🚀 Nvidia Is Back In China

+Apple Invests $500M in MP Materials to Build Rare Earth Magnets in U.S.

July 15, 2025

Good afternoon! New research found that psilocybin made elderly mice live 30% longer with shinier fur and fewer gray hairs. The psychedelic also extended the lifespan of human lung and skin cells in lab tests.

Already hot in mental health, psilocybin may be the next big thing in anti-aging. With retreats and training programs booming, the beauty industry just got a new reason to start tripping.

MARKETS

  • The S&P 500 dipped 0.4%, but Nvidia’s 4% pop helped the Nasdaq edge to a record close. Chip stocks rallied after signs the U.S. might allow some AI exports to China again.

  • The Dow dropped 436 points as bank earnings underwhelmed and inflation fears lingered. Treasury Secretary Scott Bessent reassured markets that Powell’s job is safe despite Trump’s sideline antics.

STOCKS
Winners & Losers

What’s up 📈

  • Trade Desk jumped 6.59% after S&P Global announced the ad tech company will join the S&P 500, replacing Ansys. ($TTD)

  • First Solar climbed 6.90% after the U.S. Commerce Department launched a Section 232 investigation into polysilicon imports, signaling possible tariffs that could boost domestic solar players. ($FSLR)

  • CoreWeave rose 6.21% after announcing a $6 billion AI data center project in Pennsylvania, part of a broader infrastructure push supported by the Trump administration. ($CRWV)

  • National Fuel Gas popped 5.65% following a rare double upgrade to buy from underperform at Bank of America, citing improved productivity. ($NFG)

  • Nvidia gained 4% after confirming it will resume sales of its H20 AI chip to China upon receiving new export licenses. ($NVDA)

  • Citigroup rose 3.68% after beating Q2 earnings and revenue expectations. ($C)

  • Advanced Micro Devices, Broadcom, and Micron Technology rose 6.41%, 1.94%, and 1.26%, respectively, as optimism returned to the chip sector following Nvidia’s export update. ($AMD, $AVGO, $MU)

What’s down 📉

  • BlackRock slid 5.88% after missing Q2 revenue expectations and disclosing a $52 billion institutional outflow. ($BLK)

  • Wells Fargo dropped 5.48% after the bank slashed its 2025 net interest income guidance despite beating Q2 earnings estimates. ($WFC)

  • Newmont fell 5.71% after announcing the abrupt departure of CFO Karyn Ovelmen. ($NEM)

  • Albertsons declined 5.06% even after reporting strong pharmacy and digital sales; investors appeared unimpressed. ($ACI)

  • State Street slipped 5.53% after reporting net interest income below analyst estimates, despite an overall Q2 beat. ($STT)

CHIPS
Nvidia Gets Green Light to Ship AI Chips to China, Forecast Brightens

Nvidia just got a green light to sell its H20 chips to China - again. After months of tightened export rules, the U.S. government told Nvidia it would approve licenses for the downgraded AI chip, designed specifically to comply with trade restrictions. The move follows CEO Jensen Huang’s recent trips to both D.C. and Beijing, where he argued that banning U.S. chips only fuels China’s homegrown rivals.

Shares jumped 4%, adding billions back to Nvidia’s market cap. The H20 had been off-limits since April, when the Trump administration suddenly reclassified it as too powerful for Chinese buyers. Nvidia said the freeze alone shaved $10.5 billion off its revenue outlook for the year. With shipments set to resume, that forecast just got a lot brighter.

Washington Eases, Beijing Opens

The policy shift comes amid a quiet but strategic trade détente. China recently approved rare-earth exports and gave the go-ahead on Synopsys’s $35 billion acquisition. Treasury Secretary Scott Bessent admitted the H20 decision was part of the broader trade playbook. Even as officials denied any formal quid pro quo, both sides were clearly trading tech access for minerals and market entry.

Nvidia, meanwhile, is still blocked from selling its highest-end chips in China. But Huang has warned that completely pulling out of the Chinese market would hand long-term AI dominance to Huawei. For now, the H20 is enough to stay in the game. The company also plans to ship a second, even weaker chip called the RTX PRO - cleared by regulators but aimed at less sensitive applications.

More Than Just Nvidia

AMD is also poised to resume exports of its MI308 chips, pending license approval. Meta’s announcement of several new AI data centers is another boost for U.S. chipmakers, especially Nvidia, whose GPUs are still the gold standard for training AI models. Analysts at NewStreet Research estimate the China pivot could add over $10 billion to Nvidia’s revenue this fiscal year.

Huang’s high-stakes diplomacy may have paid off, but the tension isn’t over. Lawmakers are still pressuring him to steer clear of Chinese military-linked firms. And while the Biden and Trump administrations have both wavered on export controls, no one’s ruling out another reversal. For now, though, Nvidia’s China engine is back online.

NEWS
Market Movements

INVESTMENT
Apple Invests $500M in MP Materials to Build Rare Earth Magnets in U.S.

MP Materials stock surged over 20 percent after Apple confirmed a $500 million deal to source rare earth magnets made in the United States. The magnets will be built at a new Texas facility tailored for Apple products and supported by a rare earth recycling center in California. The investment is part of Apple’s $500 billion US expansion and marks its latest move to secure strategic components domestically. This comes on the heels of the Pentagon taking a $400 million stake in MP to ensure critical defense supplies.

The US Fights Back Against China’s Magnet Grip

China still controls more than 90 percent of the world’s rare earth magnet supply, but Washington is working fast to change that. MP Materials operates the only US-based rare earths mine in Mountain Pass and has invested over $1 billion in new infrastructure. With help from the Pentagon and Wall Street, MP plans to scale output tenfold, aiming to produce magnets for everything from iPhones to fighter jets. General Motors is already onboard, and Apple’s commitment now gives MP credibility and capital to expand even faster.

Tokenizing the Supply Chain: MP is also embracing digital transformation. The company plans to tokenize its rare earth production, allowing it to trace materials from mine to magnet with full transparency. Tokenization will create a digital ledger for buyers like Apple to verify origin, sustainability, and compliance in real time. This adds a layer of trust and accountability that is critical as geopolitical tensions drive more buyers to demand non-Chinese supply chains.

The Race Is Far From Over: Despite the momentum, challenges remain. MP needs access to more heavy rare earths to meet long-term demand and will face stiff competition from other startups and allies like Lynas. Some critics also argue that the Pentagon’s backing could crowd out smaller players and skew the market. But with the Apple deal signed and shipments set to begin in 2027, MP is positioned to become the US rare earths champion. The era of Chinese magnet dominance may finally be facing real competition.

Calendar
On The Horizon

Tomorrow

Wednesday brings a fresh batch of inflation tea via the Producer Price Index - a measure of how much businesses are shelling out for goods and services. It’s not as headline-grabbing as CPI, but it’s still on the Fed’s radar as it gauges pricing pressure beneath the surface.

Also on deck: the Fed’s Beige Book, a rarely released economic pulse check that gives investors a peek behind the curtain at what central bankers are seeing and saying. Add in earnings updates from Wall Street powerhouses like Goldman Sachs and Bank of America plus household names like J&J, T-Mobile, and United and you've got a packed day of market signals.

NEWS
The Daily Rundown

  • 🗳️ Andrew Cuomo Stays in NYC Mayoral Race: Despite losing the Democratic primary to Zohran Mamdani, Andrew Cuomo is staying in the race as an independent. He says he’ll step aside by mid-September if not leading other non-Mamdani candidates. Donald Trump unexpectedly endorsed him, calling Mamdani a “communist.”

  • 🔥 Fall River Fire Kills Nine at Assisted Living Home: A Sunday night blaze at Gabriel House in Massachusetts killed nine residents and injured 30 others, including firefighters. Authorities suspect an electrical or mechanical malfunction. It’s the state’s deadliest fire since 1984.

  • ☕ Starbucks Enforces 4-Day Office Week: Starting late September, Starbucks corporate workers in the U.S. and Canada must work in-office four days a week. Senior execs must relocate to Seattle or Toronto or accept severance. The mandate reflects wider post-pandemic RTO shifts. ($SBUX

  • 🚗 Tesla Faces Jury Trial Over Autopilot Crash: Jury selection has begun for a federal trial over a 2019 Florida crash involving Tesla’s Autopilot, which killed a pedestrian. The plaintiffs blame Autopilot failure; Tesla cites driver error. ($TSLA)

  • 🎭 Elmo’s X Account Hacked with Hate Speech: The official X account of Elmo posted antisemitic and racist content after being hacked. Sesame Workshop condemned the incident and restored the account, while Jon Stewart roasted the chaos on The Daily Show.

  • 📈 Nasdaq Hits Record as Earnings Season Kicks Off: The Nasdaq closed at a new high ahead of Q2 earnings from major banks and this morning’s inflation data. Bitcoin’s rise to $123K also fueled gains in related stocks like MicroStrategy. ($MSTR)

  • 💼 Supreme Court Lets Trump Begin Dismantling Department of Education: The Court allowed Trump’s plan to fire 1,400 Department of Education workers to proceed, pausing a lower court’s block. Dissenting justices warned it hands the executive power to nullify laws by eliminating staff.

  • 🏗️ Powell Faces Heat Over $2.5B Fed Renovation: Fed Chair Jerome Powell requested an internal probe into a costly central bank renovation amid White House scrutiny. Trump allies hint the overrun could be used as justification to replace Powell early.

  • ✈️ Delta Avoids Tariffs with Engine-Swapping Tactic: Delta skirted a 10% tariff on Airbus jets by shipping U.S.-made engines separately for installation on grounded planes stateside. While legal, officials are warning companies about pushing anti-tariff maneuvers too far. ($DAL)

  • 🍊 Trump’s Brazil Tariffs May Squeeze Breakfast Prices: Orange juice futures hit $3.14/lb, a four-month high, on fears of a 50% tariff on Brazilian goods. Brazil supplies most of America’s OJ. Tariffs on Mexican tomatoes are also expected to hike salsa and produce prices

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