Donald Trump has toned down his rhetoric against Intel CEO Lip-Bu Tan, whom he previously suspected of having ties to China. Elon Musk, in a continuation of his feud with OpenAI, accused Apple of antitrust violations over its promotion of ChatGPT in the App Store and threatened a lawsuit. On the stock market, ticket marketplace StubHub, which previously suspended its offering due to fare turbulence, decided to go public on the New York Stock Exchange in September in an effort to strengthen its position in a competitive industry. On these and other topics - in the review of key events by the morning of August 12.

Trump has changed his tone toward Intel's chief executive

US President Donald Trump said he met with Intel CEO Lip-Bu Tan, as well as the trade and finance ministers, noting an "interesting conversation" and an agreement on further engagement, CNBC reported. The announcement was a sharp reversal after last week, when the U.S. president publicly called for Tan's resignation over the latter's alleged ties to China. Intel confirmed the meeting, emphasizing a commitment to U.S. national and economic security.

Tan took over Intel in March, succeeding Pat Gelsinger, amid the company's problems in the artificial intelligence segment and losses from building manufacturing facilities. In his first months in office, he announced layoffs and scaled back plans for plants in Germany and Poland, as well as a project slowdown in Ohio, noting that "turning the company around will take time and patience."

Markets declined amid tariff postponement and anticipation of inflation data

U.S. stock indexes ended Monday in the negative after reports that Donald Trump has extended by 90 days the deadline for imposing higher tariffs on China - now until November 9, Yahoo Finance reports. The Dow Jones was down 0.45%, the S&P 500 was down 0.25% and the Nasdaq Composite was down 0.3%. Investors await key macro data, including the Consumer Price Index (CPI) on Tuesday, Producer Price Index (PPI) on Thursday and retail sales data on Friday.

Nvidia and AMD shares closed with a slight decline. Donald Trump confirmed that he allowed Nvidia to sell the H20 chip to China in exchange for 15% of revenue for the government, but emphasized that the agreement does not apply to the new generation of Blackwell. AMD has agreed similar terms, according to the Financial Times. At the same time, the US president revealed that he had agreed to reduce from 20% to 15% the share that Nvidia would contribute to the government from sales to China in exchange for export licenses for the H20 chip. Nvidia CEO Jensen Huang met with the U.S. president at the White House on Wednesday, August 5, Bloomberg wrote.

The US president said the duties are having a "tremendous positive impact" on the stock market, although analysts warn: import duties are already starting to affect inflation, which accelerated in June, and could continue to raise prices in the coming months. Trump also clarified that gold will not be subject to duties.

Musk threatened Apple with a lawsuit over competitor promotion in the App Store

Elon Musk has claimed that Apple is limiting the visibility of his chatbot Grok by promoting only OpenAI's ChatGPT in the top and "Must-Have" section of the App Store, CNBC reports. He said this is a "clear violation of antitrust laws," and xAI is preparing a lawsuit. Musk also accused Apple of political bias, noting that X ranks first among news apps and Grok ranks fifth among all apps in the United States. Apple did not comment.

ChatGPT now tops the free app rankings in the US App Store and is the only AI bot on the "Must-Have" list. The homepage also includes a link to download ChatGPT-5, announced by OpenAI last week. Musk's conflict with OpenAI has been ongoing since 2018; he is now suing the company and its CEO Sam Altman, accusing them of abandoning the original mission.

The head of OpenAI responded to Musk's threats by recalling his own practice of promoting projects through Platform X. Apple has already faced antitrust lawsuits: last year, the U.S. Justice Department sued the company, and in June it was denied a freeze on App Store changes that prohibit charging fees on payment links and dictating their design.

StubHub resumes preparations for IPO

Ticketing platform StubHub, which split from eBay in 2020, has restarted the process of going public and plans an IPO in September, CNBC writes. The company put plans on hold in April amid market volatility due to Donald Trump's trade policies. According to sources, the roadshow will start right after Labor Day (September 1), and trading on the NYSE under the ticker STUB will begin later this month.

In an updated prospectus, StubHub reported first-quarter revenue growth of 10% to $397.6 million and operating income of $26.8 million, compared with a loss a year earlier. However, the net loss widened to $35.9 million. The company, which previously valued itself at $16.5 billion, did not disclose its expected price range for the stock.

StubHub competes with Ticketmaster (Live Nation), as well as Vivid Seats, SeatGeek and TicketNetwork. First quarter ticket sales (GMS) grew 15% to $2.08 billion, down markedly from 47% growth a quarter earlier; the bulk of large concert sales traditionally occur at the end of the year.

What's in the markets

- Japan's broad Topix index was up 1.5 percent.

- The benchmark Nikkei 225 was adding 2.7%.

- In South Korea, the Kospi index and the Kosdaq small-company index were down about 0.2 percent.

- Australia's S&P/ASX 200 was up 0.33 percent.

- Futures on the S&P 500 were down 0.2 percent, the Nasdaq 100 was down 0.5 percent, and Dow Jones Industrial Average futures were up slightly within 0.1 percent.

This article was AI-translated and verified by a human editor

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