Nvidia suffers record one-day stock market value drop
RT | January 28, 2025
Nvidia’s stock plummeted 17% on Monday, erasing approximately $589 billion from its market capitalization and marking the largest single-day loss in US corporate history. The sharp decline follows concerns over mounting competition from the Chinese artificial intelligence firm DeepSeek.
The selloff was part of a broader tech downturn that saw the Nasdaq Composite fall 3.1%, its worst day since December. Nvidia shares closed at $118.58, marking their most significant drop since March 2020 during the early days of the Covid-19 pandemic. Monday’s plunge also dethroned Nvidia as the world’s most valuable publicly traded company, at $2.9 trillion, pushing it back to third place behind Apple and Microsoft.
The downturn was triggered by DeepSeek’s launch of an open-source R1 model, which the company claims was trained in just two months at a fraction of the cost required by US-based firms like OpenAI. This development has raised questions about the sustainability of high AI-related spending, particularly on Nvidia’s graphics processing units (GPUs) that dominate the AI chip market.
Nvidia itself described DeepSeek’s innovation as “an excellent AI advancement,” but argued that it expects demand for its chips to increase rather than diminish. “Inference requires significant numbers of Nvidia GPUs and high-performance networking,” a company spokesperson said in a statement on Monday.
Beyond Nvidia, the selloff extended to other tech and semiconductor companies. Broadcom saw its stock drop 17%, wiping out $200 billion in market value. Data center companies heavily reliant on Nvidia’s chips, such as Oracle, Dell, and Super Micro Computer, also experienced sharp declines of at least 8.7%.
Oracle’s chairman, Larry Ellison, saw his net worth fall by $27.6 billion, the most among affected billionaires, according to Forbes. Nvidia CEO Jensen Huang’s personal fortune dropped by $21 billion, ranking as the second-largest personal loss.
The AI-fueled stock surge of the past two years has made companies like Nvidia central to market confidence. Nvidia’s shares soared 239% in 2023 alone, driven by demand from tech giants like Alphabet, Meta, and Amazon.
The latest development comes amid growing tensions in the AI race between the US and China. Despite US export restrictions on high-end chips, DeepSeek has managed to deliver competitive performance compared to OpenAI’s o1, relying on lower-spec GPUs.
US policymakers have taken note of the competition. Venture capitalist David Sacks, who was appointed as the White House’s AI and crypto advisor under President Donald Trump, called for renewed focus on innovation to counteract China’s advancements.
“DeepSeek’s success shows that the AI race will be very competitive,” Sacks wrote on X, urging the US to avoid complacency. Another billionaire venture capitalist, Marc Andreessen, has described DeepSeek’s emergence as a “Sputnik moment” for American tech.
Trump might defy policy to reach nuclear deal with Iran: Responsible Statecraft
Al Mayadeen | January 27, 2025
President Donald Trump has signaled an unexpected shift in the conventional US policy regarding Iran, revealing that the only issue his administration would face with the Islamic Republic is its development of a nuclear weapon.
Speaking on Fox News’ Hannity show on January 23, Trump did not address Iran’s regional policies, its defiance of the Israeli occupation, or the possibility of enforcing a regime change. Rather, his only focus was preventing Iran from acquiring nuclear weapons.
In this regard, a Responsible Statecraft report, written by Eldar Mamedov, recalled previous statements by Iranian officials, confirming that the nation does not seek nuclear weapons, adding that this could facilitate a political agreement between Washington and Tehran.
Tehran has also gestured its willingness to re-engage with the West, particularly following the election of Iranian President Masoud Pezeshkian and his government coming to power. However, despite the mutual political willingness, the path to a deal remains highly complex and is vastly different from 2015, when the JCPOA curtailed Iran’s nuclear program.
Is a nuclear deal possible?
Following Trump’s 2018 withdrawal from the JCPOA, his imposition of sanctions, and the EU’s failure to abide by the terms of the deal, Iran significantly advanced its program, including enriching uranium to 60%—a step away from weapon-grade levels (90%)—and deploying advanced centrifuges. Nuclear expert Kelsey Davenport notes that Iran could now produce enough material for five to six nuclear bombs in just two weeks, according to Mamedov.
The situation is further complicated by the limited access the IAEA has had to Iran since 2021, heightening concerns about unmonitored nuclear material potentially being moved to covert sites, as well as shifts in Iran’s nuclear rhetoric that suggest a potential rethinking of its doctrine.
While Tehran officially maintains it is not pursuing nuclear weapons, regional challenges could incentivize Iran to consider a nuclear deterrent, Mamedov explained.
Israeli Prime Minister Benjamin Netanyahu’s threats of a direct attack, possibly with US support and cover, could possibly motivate Iran to contemplate threshold weaponization as a defensive measure.
Mamedov writes that negotiations to achieve a potential deal would have to consider Iran’s extensive nuclear program, as well as the set of motivations it has to expand its nuclear manufacturing. In this context, concessions would have to be made, addressing the regional situation and Iran and its allies’ security concerns, which prompted nuclear development in the first place.
Although Iran’s Leader Sayyed Ali Khamenei approved re-engagement and Pezeshkian’s reformist government advocated for a more proactive approach, majorly to ease US sanctions on the Islamic Republic, some Iranian politicians still have reservations, citing the US decision to withdraw from the JCPOA. This makes the matter one of “how to engage”, rather than if engagement should be initiated.
Some Iranian officials see little benefit in trading their nuclear leverage for uncertain sanctions relief. They are also bolstered by a new strategic partnership with Russia, which includes military and security cooperation, providing deterrence against potential attacks by “Israel” or the US.
The time is now!
Currently, proponents of waiting for a US initiative hold sway in Tehran at the moment. Reformists, however, argue this approach wastes time, suggesting Trump may seek a quick deal to enhance his peace-making image, especially with the Ukraine conflict dragging on. A limited framework deal, similar to Trump’s DPRK agreement, could be quickly drafted if the political decision is made, according to Mamedov.
While doubts remain about achieving a substantive follow-up deal, even a symbolic agreement—such as a handshake between Trump and an Iranian leader—could de-escalate tensions, marginalize pro-Netanyahu factions, and create room for broader negotiations addressing nuclear issues, sanctions, and regional concerns, Mamedov wrote.
Diplomatically, Iran has engaged with the EU and E3 (Britain, France, Germany) to prevent them from undermining progress by invoking UN sanctions before the October 2025 deadline. While Tehran has no illusions about the EU’s ability to restore the JCPOA without US involvement, these talks signal Iran’s seriousness about a deal and aim to avoid the E3 acting as spoilers out of fear of being excluded from future US-Iran agreements.
The most viable path forward seems to be a limited bilateral deal between the US and Iran to ease tensions, followed by multilateral negotiations with the original JCPOA signatories. With political will apparent on all sides, the opportunity to advance diplomacy is now.
Germany: Berlin needs emergency loans after migrants blow €500 million hole in city’s budget
Refugees have cost Berlin billions and that is only one German city
Remix News | January 27, 2025
Despite claims that migrants are going to fund the entire West and save pensions with all the tax funds they generate, reality is once again encroaching. Now, the Berlin Senate is preparing emergency loans to cover refugee costs at a time when Berlin is cutting services, including for schools, due to increasingly dire budget shortfalls.
Notably, a Christian Democrat (CDU), Kai Wegner, is the mayor of Berlin, but under his leadership, not much has changed from the previous left-wing government. Berlin’s Finance Senator Stafan Evers, also of the CDU, is reportedly preparing efforts to provide an emergency loan to cover the cost of refugees.
One of the problems is that Berlin has a debt brake that keeps the city from taking on further debt, but the government says it has the legal ability to make an exception.
In 2025, Berlin indicates it will cost €500 million to accommodate migrants. Remix News has reported on the soaring costs of housing migrants in Berlin in recent years. In 2023, it cost Berlin nearly €500 million a year to house migrants, which equals €1.5 million a day. Recently, there has been a push to convert massive buildings into refugee housing, which would cost Berlin hundreds of millions over the next decade just for one building.
Notably, Berlin already froze school budgets in 2024, but these budget cuts are not enough. The figure of €500 million also does not factor in other costs, such as education, integration efforts, and policing.
The report from the CDU, prepared in conjunction with its coalition partners, the Social Democrats (SPD), has not been yet made public, according to Tagesspiegel.
Berlin took in 21,000 fewer refugees last year than in 2022, when 32,752 refugees arrived, mostly due to an extreme shortage of housing. Currently, 41,000 people live in accommodations run by the State Office for Refugee Affairs.
In all likelihood, the solution will be more debt and more spending, with Berlin ready to declare an emergency to make up for the shortfalls.
On the federal level, the situation may be even more dire, with nearly €50 billion spent on migrants in 2023. Across Germany and much of the Western world, immigration is not only fueling a debt crisis, but it is also a major factor in skyrocketing housing prices.
On top of the millions of poor newcomers who need housing is also the role of foreign investors, who are buying up property across the West. The issue has gotten so dire that even those on opposite sides of the political spectrum, such as Spanish PM Pedro Sanchez and former Czech PM Andrej Babiš are proposing massive taxes on foreign buyers of property in their countries.
Iran’s hard choice on FATF conundrum
Press TV – January 26, 2025
The issue of Iran’s membership in Paris-based Financial Action Taskforce (FATF) is one of the hotly disputed topics, with proponents and opponents each ardently sticking to their respective positions.
Supporters argue that Iran’s continued inclusion in the FATF blacklist has become a major challenge for the economy and a problem for the Iranian policy-making system for many years.
For years, economic and trade activists and entrepreneurs have accused decision-makers of indifference to financial transaction problems resulting from Iran’s disconnection from the global payments network SWIFT.
They cite the high cost of trade, economic and financial transactions due to the use of unconventional and obsolete methods such as exchange offices and commodity barter which has led the growth of dealership and rent-seeking activity, corruption, and a shadow economy, calling for legal and policy measures to remove Iran from the FATF blacklist.
In 2016, Iran under the administration of president Hassan Rouhani agreed to an FATF action plan to move from the blacklist to the gray list, accepting 37 of the Western watchdog’s 41 recommendations and introducing relevant legislation to implement them.
By 2020, however, the FATF reinstated the country on its blacklist due to what it called Iran’s failure to complete the process.
The dispute centers around the Palermo Convention on combating transnational organized crime and the CFT Act on fighting the financing of terrorism, which the Iranian parliament approved in 2018, but the Guardian Council rejected due to their conflicts with “resistance economy guidelines”, national security policies, and “contradiction with the Sharia”.
Opponents of the FATF membership believe that with multiple US sanctions imposed on Iran over the years, the approval of Palermo Convention and the CFT Act and a subsequent removal from the blacklist would not improve trade and transaction for the Islamic Republic.
The 39-nation FATF, established by the Group of Seven (G7) largest developed economies at a Paris summit in 1989, is billed as a global body that aims to develop policies to combat money laundering and terrorist financing, thus protecting the integrity of the international financial system.
Its founders praise it for its global standards. However, global standards consist of a standard setter and a standard user. The standard setter influences independent organizations and standard users to adopt standards based on the expert knowledge that is suitable for the standard setters’ logic of appropriateness.
Scholars say FATF primarily reflects the preferences of power countries and is a tool for the US and Europeans to force those preferences on other jurisdictions.
FATF’s core agenda reflects consensus among the US and EU member states to paint non-compliant jurisdictions as rogue, unreliable players, thereby scaring off would-be investors.
According to IMF data, the world economy had a gross domestic product (GDP) of $105 trillion in 2023, some $90 trillion of which belonged to FATF members. The sum included about $5.2 trillion in laundered money, most of which belong to major economies.
As for terrorist financing, the FATF has never subjected the US and the Europeans to its anti-terrorism standards for supporting the Mujahedin Khalq Organization (MKO) which until recently was on their list of terrorist organizations. Ironically, Paris hosts the annual meetings of the MKO which has a history of bombings, terrorist attacks, horrific murders like burning, decapitation, dismemberment, as well as money laundering and heist from banks.
The proponents of the FAFT still have a case. They argue that without membership, the development of economic relations with neighbors will face serious challenges and costs since they are all members of the group.
The dossier is before the Guardian Council amid fears and hopes since the country’s national interests are at stake. Ultimately, maximum care should be taken to ensure that any decision would improve the country’s situation and not lead to any self-imposed sanctions and not shoot the country in the foot.
Conflict in Ukraine Not Tied to Oil Prices, But to Western Actions – Kremlin
Sputnik – 24.01.2025
MOSCOW – The conflict in Ukraine is taking place because of a threat to Russia’s national security, as well as the West’s complete refusal to listen to its concerns, Kremlin spokesman Dmitry Peskov said on Friday.
“This conflict is taking place because of a threat to the national security of the Russian Federation, because of the threat to Russians who live in certain territories, because of the unwillingness and complete refusal of Americans and Europeans to listen to Russia’s concerns,” Peskov told reporters.
The conflict in Ukraine does not depend on oil prices, Peskov added.
US President Donald Trump said on Thursday that he would ask Saudi Arabia and other OPEC nations to lower the oil price and it would end the conflict in Ukraine “immediately.”
Trump stated that “right now the price is high enough that that war will continue.”
“You’ve got to bring down the oil price. You’ve got to end that war, they should have done it long go,” the US president said.
US Arms Ukraine, Europe Pays the Bill
Sputnik – 23.01.2025
NATO Secretary General Mark Rutte said on Thursday that European taxpayers would have to pay for US military supplies to Ukraine if the new US administration agreed to provide them.
“On Ukraine, we need US also to stay involved and to do as much as possible to get Ukraine in a position of strength, whenever peace talks start. But I can tell the Europeans, if this new Trump administration is willing to keep on supplying Ukraine from its defense industrial base, the bill will be paid by the Europeans,” he said at the World Economic Forum (WEF) in Davos.
The NATO chief said during the annual Ukrainian Breakfast event he was convinced that Europeans needed to be willing to pull their weight because, in his view, Americans were paying more despite being farther away from Ukraine than Europe.
Rutte also added that the alliance should increase its support for Ukraine in order to change the “wrong direction” in which the conflict is moving.
“We have to step up, not scale back, the support for Ukraine, we have to change the trajectory of the war which is ongoing, and so far we know the frontline is moving in the wrong direction,” Rutte said.
The annual WEF forum takes place from January 20-24 in the Swiss resort of Davos.
Russia believes arms supplies to Ukraine hinder the settlement process and directly involve NATO countries in the conflict. Russian Foreign Minister Sergey Lavrov has said the United States and NATO not only supply weapons to Kiev but also train personnel in the United Kingdom, Germany, Italy and elsewhere, which he argues is not conducive to peace.
Kuwait announces ‘significant’ oil discovery
MEMO | January 21, 2025
The Kuwait Oil Company yesterday announced the discovery of a new oil reserve in the Al-Julaiah offshore field within its territorial waters.
The company said in a statement, the discovery, estimated at around 950 million barrels of oil equivalent, is set to strengthen the nation’s standing as a global leader in crude oil production and exportation.
According to the statement, tests conducted on the Zubair geological reservoir in the Julaiah 2 exploratory well yielded promising production results. The field spans an area of 74 square kilometres, with reserves estimated at around 800 million barrels of medium-density oil, free of hydrogen sulphide and containing a low percentage of carbon dioxide.
Additionally, the field holds 600 billion standard cubic feet of associated gas, equivalent to 950 million barrels of oil equivalent.
The Julaiah field marks the second marine field discovered under the current exploration plan, following the discovery of the Al-Nukhadha marine field in July 2024.
Americans say US spends too much on Ukraine – poll
RT | January 20, 2025
The majority of Americans believe the US government is spending too much on aid for Ukraine, a recent New York Times/Ipsos opinion poll suggests.
According to the findings, 51% of respondents say the country is “spending too much” on Kiev, while 28% believe the current amount is appropriate. Only 17% say the country should boost spending on Ukraine.
Similarly, 53% of those surveyed say US aid to Israel is excessive, with 30% considering it adequate. The survey, conducted from January 2 to 10, involved 2,128 people nationwide.
Public sentiment reflected in the survey suggests that most Americans want Washington to prioritize domestic issues over foreign aid. Among the respondents, 60% say the US “should pay less attention to problems overseas and concentrate on problems here at home,” while only 38% believe the country should continue to be active in global affairs. The poll also indicates that 60% believe the US government is “almost always wasteful and inefficient,” while 72% say it is “working to benefit itself” and its own agenda, not the people.
This comes after the government’s recent decision to provide Ukraine with an additional $500 million military aid package, announced on January 8. Congress has appropriated a total of over $175 billion on assistance for Kiev since the conflict with Russia escalated in February 2022, of which $65.9 billion has been direct military assistance, according to the latest data from the Pentagon.
US spending on Ukraine has recently drawn criticism from Marco Rubio, President-elect Donald Trump’s pick for secretary of state in the upcoming administration. Testifying before the Senate Foreign Relations Committee as part of his confirmation last week, he said the US should no longer give Kiev indefinite support and criticized the outgoing administration of President Joe Biden for failing to clearly delineate the “end goal” of the funds it has been pouring into the conflict.
“What exactly were we funding? What exactly were we putting money towards?” he asked, saying the current approach of “however much it takes for however long it takes” is not realistic.
Moscow has warned that Western aid to Ukraine only serves to prolong the conflict without changing the outcome. It has said it is willing to find a diplomatic solution to the conflict, but maintained that any settlement must begin with Kiev ceasing military operations and acknowledging the reality that it will not regain control of former Ukrainian regions that voted to join Russia. Moscow has also insisted upon Ukrainian neutrality, demilitarization, and denazification.
EU member pledges to veto future Ukraine aid
RT | January 19, 2025
Slovakia will veto any future Ukraine aid considered by the EU, Prime Minister Robert Fico has announced. Bratislava will now take a “reciprocal” approach to hostile moves by Kiev, he warned.
Fico issued the threat in a video address posted to social media late on Saturday. Ukraine’s Vladimir Zelensky believes everyone should be his “servant,” Fico asserted, warning such an approach would not work with him.
“In my case, the scythe hit a rock. Robert Fico is a Slovak prime minister and not a Ukrainian servant,” Fico stated.
Bratislava will take a “reciprocal” approach to Kiev in the row over the transit of Russian natural gas that Kiev ended at the beginning of the new year, Fico warned, pledging to veto any future aid packages from the EU. The packages require unanimous backing from all the members of the bloc to be passed.
The Slovak prime minister also reiterated other potential moves against Ukraine that he had articulated previously, namely halting the emergency electricity supply, stopping humanitarian aid deliveries, or cutting benefits received by Ukrainian refugees in Slovakia.
“I am increasingly convinced that President Zelensky is forcing us into reciprocity, and we will go for it,” Fico stated.
Once a major supporter of Ukraine, Slovakia changed its stance after Fico took office in late 2023, halting military aid to the country and pledging to veto its potential accession into the US-led NATO bloc.
The already strained relations between Bratislava and Kiev have further deteriorated owing to the row over the Russian gas, which Slovakia has been heavily dependent upon. Kiev opted not to renew the transit contract and halted the flow despite Moscow’s repeated signals that it was prepared to continue supplying its customers in the EU through Ukraine’s pipeline system.
Fico initially proposed negotiating with Zelensky on the border between the two countries, but the latter urged him through social media to come to Kiev instead. The response was deemed undiplomatic in Slovakia. Fico then proposed to meet Zelensky in Davos next week, where both leaders are expected to head. The proposal was openly mocked by Kiev, with Zelensky suggesting the Slovak leader could end up in Sochi, Russia, instead.
Is Australia willing to serve as a ‘beachhead’ for the US?
Global Times | January 16, 2025
“I see Australia as the beachhead to counter China… That’s why AUKUS is so important,” said Michael McCaul, the chairman of the Republican House Foreign Affairs Committee, in a roundtable meeting on Wednesday.
The term “beachhead,” according to the dictionary, refers to an area on a hostile shore occupied to secure further landing of troops and supplies. This is how the US views Australia: as a frontline base in the Asia-Pacific to maintain US’ strategic and military presence in the region and to serve the “Indo-Pacific Strategy” aimed at countering China’s rise.
With the thawing of China-Australia relations, the US is growing anxious. Even the Australian media has noticed this: “McCaul’s remarks add to impressions that with Republicans controlling Washington, Australia may be asked to do more to challenge China in the Asia-Pacific, despite the stabilization of relations achieved by Prime Minister Anthony Albanese.”
“This once again highlights how Australia is being instrumentalized and weaponized by the US, at the sacrifice of Australia’s political, economic and security interests, disregarding its sovereignty to serve US national interests,” Chen Hong, director of the Australian Studies Center of East China Normal University, told the Global Times.
Recently, Australia has been promoting the stabilization, improvement and enhancement of its relationship with China. In June last year, Albanese published an opinion piece, saying, “Working productively with China will benefit everyone in the region.” Three months later, before the visit of Australian Treasurer Jim Chalmers to China, he made it clear that the discussions would focus on “stabilizing the economic relationship with China.”
The Asia-Pacific region has maintained relative peace and stability. Clearly, this is a situation the US doesn’t want to see, so it once again uses AUKUS to remind Australia: Your role is simply to serve as America’s “beachhead.”
But from its inception, AUKUS has been a burden and a liability for Australia. On September 15, 2021, the US, the UK and Australia announced the creation of AUKUS. Australia’s total investment in the plan is a staggering 368 billion AUD (about $242 billion), with an additional 555 million EUR (about $585 million) to be paid to France as compensation for the cancellation of a previous submarine deal.
What’s worse, due to the US’ limited submarine production capacity and inadequate investment in UK and Australian shipyards, the AUKUS agreement is currently facing several challenges. More and more Australians believe that the US will ultimately fail to deliver the Virginia-class nuclear submarines. A possible alternative is that the US may station its nuclear submarines in Australian ports. Given that a US official has previously declined to explicitly guarantee that Australia will have full control of the AUKUS nuclear-powered submarines, Australia may ultimately face the loss of sovereignty over its submarine capabilities.
More importantly, Chen said the nuclear submarine fleet under the AUKUS framework is not tailored to Australia’s defense needs but serves the US’ military adventure plans against China. McCaul’s remarks about the US’ vision for the Asia-Pacific further support this point. “A third world war – if it occurred – would most likely break out in the Indo Pacific region… That’s why Australia, in my view, is the power in the Pacific that we need to fortify,” he said.
Albanese concluded his June article with the words, “Building a more prosperous and secure future for all who call the Indo-Pacific home.” This contrasts sharply with McCaul’s statement. For Australia, this is a strategic issue that requires deep thought and reflection: To what extent should Australia achieve its strategic autonomy and truly serve its own interests? Is the vision of the Asia-Pacific in the US blueprint the future Australia wants?
300 Million Cubic Meters a Day? Russia-Iran Pipeline Promises Major Energy Boost
By Svetlana Ekimenko – Sputnik – 18.01.2025
The Comprehensive Strategic Partnership treaty signed between Moscow and Tehran on January 17 shed light on a new project to deliver Russian gas to Iran.
The gas pipeline’s route has been agreed on, it will pass through Azerbaijan, Russian Energy Minister Sergei Tsivilev confirmed.
Negotiations are in the final stages, volumes have already been agreed, and the sides are developing an approach to pricing, Tsivilev added. Russia will cover the infrastructure costs.
Volumes
The project is expected to start with deliveries of up to two billion cubic meters annually, with the prospect of increasing to 55 billion cubic meters.
When Gazprom and the National Iranian Gas Company (NIGC) signed a strategic memorandum on Russian gas supplies in June 2024, the Iranian side noted that about 300 million cubic meters of gas per day will be supplied daily (109 billion m3/year) via the Caspian Sea for domestic consumption and supplies to neighboring countries.
The declared volume of 55 billion cubic meters annually is comparable to the capacity of the Nord Stream twin undersea pipeline system to Europe, sabotaged in 2022.
The 30-year deal will supply Russian gas to Iran both for domestic consumption and for neighboring countries.
Why Does Iran Need Russian Gas?
Despite holding the world’s second-largest natural gas reserves (34 trillion cubic meters, after Russia), Iran is facing a fuel shortage as demand for natural gas exceeds production. Most of these reserves are untapped due to US-led sanctions that stall investment and technology improvement.
Iran’s main gas fields are concentrated in the south, and large consumers are in the north, in a region with a fairly harsh climate. In winter, Iran faces a daily shortfall of at least 260 million cubic meters of gas, straining the electricity supply.

