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Asian Markets Tumble Amid Trump Win, Anticipated Fed Rate Cuts

Most Asian stocks slid on Thursday as investors weighed the economic impact of Trump’s second presidency , particularly his promise of increased tariffs . In response, the dollar climbed , adding over 1% on Wednesday. Major indices fell in China, Australia, and South Korea , while Japan showed mixed results. This followed a record surge in the S&P 500, which climbed 2.5% on Wednesday, marking its best post-election day ever, with the Nasdaq 100 up by 2.7% . Many expect the Federal Reserve (Fed) to cut interest rates today, a move closely watched by global markets. US stock gains largely reflect expectations of Trump’s pro-business agenda , centered on tax cuts and lighter regulations , which could potentially bolster corporate profits. However, Treasury yields jumped 16 basis points as Trump’s fiscal and tariff plans are predicted to fuel inflation, complicating the Fed’s efforts to reduce borrowing costs. In China, the CSI 300 Index fell by 1% , marking its second consecutive d
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Nvidia CEO Partners with Mukesh Ambani to Build AI Hub in India with Blackwell Chips

 

Nvidia CEO Jensen Huang has joined forces with Mukesh Ambani, Asia's richest man, to build artificial intelligence (AI) infrastructure in India, aiming to accelerate the country’s adoption of the transformative technology. The partnership was announced at Nvidia's AI summit in Mumbai, where the two executives revealed plans to leverage Nvidia's Blackwell chips in a major data center project spearheaded by Reliance Industries Ltd.

The new 1-gigawatt data center in Gujarat will be among the first to deploy Nvidia's Blackwell chips, highlighting India's potential as a growing AI hub. Huang emphasized that India, already known for exporting software, will soon become a key exporter of AI. Other notable collaborations announced include partnerships with Infosys, Tata Consultancy Services, Flipkart, and Tech Mahindra, signaling Nvidia's deepening engagement with Indian industries.

India’s expanding digital economy is attracting global tech giants like Microsoft and Meta, positioning the country as a strategic alternative to China, amid escalating US-China tensions. Nvidia’s partnerships in India are part of a broader effort to support AI advancements across sectors such as agriculture, healthcare, and e-commerce.

Nvidia has been rapidly expanding its footprint in India, with over 4,000 engineers across multiple cities. The AI infrastructure project is expected to play a critical role in India’s emerging AI ecosystem, supported by the government’s IndiaAI Mission, which has allocated US$1.2 billion to boost AI capabilities in the country.

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