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Huang joins Beijing university as Nvidia eyes China ties

Plus: one million car buyers vanish, Google engineer charged over Polymarket.

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Huang joins Beijing university as Nvidia eyes China ties

Jensen Huang is joining the advisory board at Tsinghua University's business school, chaired by Tim Cook, even as US export controls tighten around AI chips. The Nvidia CEO's move signals deliberate institutional relationship-building with China's elite academic circles, despite Washington restricting his company's most advanced GPUs from Chinese customers. Huang's appointment comes as Nvidia's market cap exceeds $5 trillion and the company designs China-compliant chip variants to navigate export rules. The timing suggests US tech leaders are doubling down on non-governmental channels to preserve long-term access to Chinese markets and policymakers.

One million new car buyers have vanished

US households earning under $75,000 have cut new car purchases by 30 percent since 2019, effectively removing about one million buyers from the market. Average monthly payments now hit $767 with one in five buyers paying over $1,000 monthly, while automakers guide for flat sales despite three million unsold vehicles sitting on lots. The math is brutal: high-income households increased purchases 45 percent while middle and lower-income buyers retreated or disappeared entirely. Detroit's post-pandemic pricing power created a structural demand cliff that cheap money can no longer paper over.

Google engineer charged over $1.2m Polymarket profits

Michele Spagnuolo allegedly used internal Google search data to win 22 of 23 bets on Polymarket's "Year in Search 2025" markets, netting over $1 million in profits before federal prosecutors caught him. The software engineer's AlphaRaccoon account correctly predicted obscure outcomes like singer d4vd becoming the most-searched person, turning a $10,647 wager into nearly $200,000. This marks the second high-profile insider trading case on Polymarket this year, after an Army sergeant was charged for betting on Venezuelan operations. The DOJ is treating prediction markets like traditional securities venues, testing whether blockchain rails provide any immunity from fraud statutes.

Snowflake signs $6bn deal tied to AWS Graviton chips

Snowflake committed $6 billion over five years to AWS infrastructure built around Graviton CPUs, nearly matching the company's entire historical marketplace revenue since 2012. The deal highlights how AI workloads are pushing beyond expensive Nvidia GPUs toward cheaper ARM-based processors for tasks that don't require maximum compute power. AWS gains a massive anchor customer for its custom silicon strategy while Snowflake locks in predictable capacity costs as it scales AI-enhanced data services. The commitment suggests cloud providers are winning the architecture battle by offering integrated hardware-software stacks that compete on total cost rather than peak performance.

Dimon floats $20bn acquisition as bank eyes deals

Jamie Dimon said JPMorgan could deploy $10-20 billion on acquisitions "in the next couple of years," citing excess capital freed by lighter Trump-era regulation. A $20 billion deal would rank among JPMorgan's largest ever and test regulatory appetite for further consolidation around America's biggest bank by assets. The comments come as private AI startup Cognition raised $1 billion at a $26 billion valuation and Bill Ackman's $65 billion Universal Music bid faces shareholder resistance. Dimon's willingness to float such figures reflects confidence in the bank's capital strength and signals major strategic M&A could return to financial services after years of regulatory caution.

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The combination of rising consumer stress and climbing borrowing costs is creating a pincer movement on UK businesses. Consumer price pressure climbed 11.0 points over four periods while gilt yields reached 4.93%, suggesting the cost of capital squeeze is intensifying just as households tighten spending. Energy costs surged 23.3% year-on-year, driving the sustained pressure build across consumer sectors.

Housing markets are stalling in response. Average asking prices fell month-on-month to £268.1k, now flat year-on-year for the first time in recent memory. With unemployment steady at 5.0% but vacancies down to 705k, the labour market shows early signs of cooling without yet breaking. This creates an awkward equilibrium where wage pressure persists but hiring confidence wobbles.

The dealflow landscape reflects this caution, with recent activity dominated by completed transactions rather than new announcements. Apparel & Fashion and Grocery & Staples both registered six fires in consumer tracking, though risk levels remain contained for now.

Operators should prepare for margin compression as input costs stay elevated while consumer spending velocity drops. The window for pricing through cost increases is narrowing fast.

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The combination of rising consumer stress and climbing borrowing costs is creating a pincer movement on UK businesses. Consumer price…

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Tech & AI

OpenAI Foundation commits $250m to AI economic research

OpenAI Foundation will spend $250 million over the next year studying AI's impact on jobs and economic disruption, the first major deployment from its $1 billion annual pledge. The initiative targets research on productivity gains, worker displacement, and economic security programs as AI reshapes labour markets. The timing suggests OpenAI is preparing for intensified political scrutiny over employment effects while positioning itself as a responsible steward of AI's societal impact. The funding will flow through grants and partnerships, potentially influencing how policymakers approach AI regulation and worker protection measures.

Elliott adds Jesse Cohn to Synopsys board in settlement

Elliott Investment Management secured a board seat for partner Jesse Cohn at chip design software leader Synopsys after building a multibillion-dollar stake. The activist fund characterised Synopsys as "essential to the global chip industry" and uniquely positioned to benefit from AI-driven chip complexity, signaling a focus on execution and profitability rather than dramatic strategic shifts. The settlement avoids a proxy contest while giving Elliott direct influence over one of the two dominant EDA software providers alongside Cadence. Elliott's involvement could accelerate margin expansion programs and capital allocation discipline as AI drives unprecedented demand for advanced chip design tools.

Markets & Economy

Uber raises Delivery Hero stake at €12bn valuation

Uber bought additional Delivery Hero shares at just under €40 each, valuing the German food delivery group at €12 billion and effectively raising the floor above its own €33 per share takeover bid. The purchase from hedge fund Aspex Management follows Uber's rapid stake build to 19.5% plus options, giving it blocking rights over major corporate decisions. DoorDash has separately approached Delivery Hero shareholders while some investors value the company's Talabat stake alone at €9 billion. Uber's willingness to pay above its own bid price signals confidence in the strategic value despite investor concerns about execution risk in a high-multiple deal.

UK youth worklessness could hit 1.25m by early 2030s

Nearly one million young Britons are already NEET (not in education, employment or training), up over 200,000 since 2022, with government-commissioned analysis projecting this could reach 1.25 million by the early 2030s. Former Labour minister Alan Milburn is leading a review warning of a "lost generation" as 60 percent of NEET youth are economically inactive, meaning they're not looking for work at all. The UK's youth NEET rate runs twice that of Japan or Ireland and three times the Netherlands, highlighting structural problems beyond cyclical unemployment. Being NEET costs individuals over £1 million in lifetime earnings while creating persistent labour supply constraints and fiscal drains that threaten long-term productivity growth.

China tourism boom hits 154m visitors as visa rules ease

China received 154.5 million inbound tourists in 2025, up 17.1 percent year-on-year, with tourism spending surging 39.2 percent to $131.1 billion as 48 countries gained visa-free access. The growth rate of 9.9 percent far exceeds the global tourism average of 4.1 percent, with Chinese officials projecting the country could become the world's largest tourism economy by 2030. Social media "China-maxxing" content showcasing high-speed rail and tech-enhanced experiences is driving bookings, while visa-free countries show three times faster growth than restricted markets. The tourism push serves as both an economic growth lever amid domestic demand concerns and a soft-power tool to counter negative international narratives.

Business & Strategy

Lululemon settles with founder Wilson, adds two directors

Lululemon reached a truce with founder Chip Wilson, agreeing to add two of his three board nominees in exchange for an 18-month standstill on public criticism and proxy battles. Wilson controls nearly 9 percent of shares and has been attacking the company's strategy since December, arguing it has lost its vision amid a 45 percent stock decline and stagnant sales. The settlement allows Wilson to influence board composition without fully ceding control of director selection, while buying management breathing room to execute strategy without active founder opposition. The compromise reflects the reality that founder-activists with meaningful stakes and operational credibility can force changes at underperforming consumer brands.

Quick Hits

2026 World Cup preps accelerate across 16 host cities

The expanded 48-team tournament across US, Canada and Mexico will use NFL stadiums and drive massive hospitality demand, with Vancouver planning a six-week fan festival and travel guides already advising on accommodation constraints.

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Huang joins Beijing university as Nvidia eyes China ties | Briefed