Alibaba, ByteDance, and Tencent are driving demand for NVIDIA H20 chips, fueling China’s AI boom despite U.S. export restrictions.

Grubhub CEO Howard Migdal said on Friday that the food delivery firm has decided to cut about 500 jobs, as it focuses on aligning its business with Wonder after the takeover was completed last month.

Nvidia, the chip giant at the heart of the artificial intelligence (AI) boom, said business remained strong, despite fears of a bubble stirred by the launch of Chinese AI firm DeepSeek's launch on the scene last month.

During a Thursday meeting, Ukraine was told it faced imminent shutoff of the service if it did not reach a deal on critical minerals, a source said.

Nvidia forecast higher first-quarter revenue on Wednesday, signaling continued strong demand for artificial intelligence chips, and said orders for its new Blackwell semiconductors were “amazing.” The company’s forecast helps allay doubts around a slowdown in spending on its hardware that emerged last month,

DeepSeek's affordable AI models have raised demand for Nvidia's H20 AI chips. Nvidia's revenue and market position have benefited significantly, with major Chinese companies like Tencent and Alibaba increasing their orders.