Wion Business Wrap | Nvidia’s AI chip revenue, Toronto’s housing desperation & more

WION’s Business Desk brings you this daily round up of global stories from the world of business and economy. 

Nvidia’s High-Stakes Dance: AI triumphs amidst China conundrum

The leading manufacturer of AI chips, Nvidia, is expected to release strong revenue projections on Tuesday based on the popularity of its AI-enabled products. Eyes are focused on the possible effects of the United States’ increasing limitations on the sale of its premium chips to China, which has raised serious concerns among investors. 

Toronto’s Housing Desperation: Half-a-Bed for C$ 900 a month amid soaring prices

Desperation in Toronto’s housing market is evident with sky-high prices people are ready to pay to rent a half-bed. A half-bed was being offered for 900 Canadian dollars a month, according to the shocking Facebook post that has since been now removed.

French diplomat heads to China amid EV tensions. Here are the details

France’s top diplomat, Catherine Colonna, is scheduled to travel to China this week in an attempt to repair relations damaged by an anti-subsidy inquiry into Chinese electric cars (EVs).

Microsoft’s Valuation Soars as OpenAI Turmoil Unfurls: CEO and key staff join forces

Amid the upheaval surrounding OpenAI, Microsoft has taken advantage of the situation and hired key staff, including the company’s ex-CEO: Sam Altman, increasing Microsoft’s valuation.

Wall Street awaits $100 bn crypto boom with Bitcoin ETFs: Report

Wall Street is anticipating the impending launch of Bitcoin exchange-traded funds (ETFs), which is expected to mark the official launch of cryptocurrency. Industry insiders are focusing on a potential $100 billion market as a result of the anticipated approval from the US Securities and Exchange Commission (SEC) for these ETFs, igniting a new hype cycle.

Japan’s wage boom paves the way for BOJ exit, boosts inflation battle

The Bank of Japan (BOJ) may decide to reduce its monetary stimulus programme, which has been implemented for the past ten years, as the country prepares for a second year of large salary increases.

Investor Uproar at OpenAI: Legal battle looms after CEO Sam Altman fired

After CEO Sam Altman was abruptly fired, investors at OpenAI, consider suing the board of directors. Anxious over possible losses, these investors are working with solicitors to assess their alternatives.

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