This week’s top stories shake tech, media, and the economy.
From Trump’s controversial $100K H-1B visa fee and Nvidia’s $5 billion Intel investment to China blocking Nvidia’s AI chips, the headlines are packed with high-stakes developments.
In media, Jimmy Kimmel’s show faces suspension, while the Federal Reserve cuts rates amid a slowing economy.
A glance at major news developments this week.
$100K H-1B visa fee sparks uproar
US President Donald Trump’s latest move on H-1B visas has sent shockwaves through the tech world.
Starting September 21, a whopping $100,000 fee will be slapped on companies sponsoring skilled foreign workers under this visa program.
This sharp increase is designed to clamp down on what the administration calls “abuse” of the system.
But it’s raising alarms among big tech firms like Amazon and Google, not to mention Indian IT giants who rely heavily on H-1B workers.
Many worry this new fee could delay projects and upset families separated by immigration policies.
Immigration lawyers are already gearing up to challenge the fee, calling it a costly barrier for hardworking immigrants. With the job market and innovation at stake, this bold policy shift is likely to spark heated debates ahead. Read full report here.
Nvidia becomes major Intel backer
This week, Nvidia dropped a surprising $5 billion investment in Intel, shaking up the chip world.
The deal, announced on September 18, is more than just cash; it’s a partnership where they’ll team up to develop new chips for PCs and data centers.
Nvidia will buy Intel stock at about $23.28 a share, making it one of Intel’s biggest shareholders.
The investment breathes fresh life into Intel, which has struggled recently despite government backing and other big investments.
While Nvidia won’t be shifting its chip production to Intel just yet, the two tech giants plan to combine their strengths, Nvidia’s AI and graphics tech with Intel’s CPUs.
This move could pose a challenge to other chipmakers like AMD and Taiwan’s TSMC.
Nvidia’s CEO Jensen Huang is excited, saying this partnership sets the stage for the future of computing. Intel’s shares shot up about 29% after the news. Read full report here.
China blocks Nvidia’s AI chips
China has officially banned its top tech companies from buying Nvidia’s AI chips, marking a significant blow to the US chipmaker.
The country’s internet regulator ordered firms like ByteDance and Alibaba to stop testing and purchasing a custom Nvidia chip designed specifically for the Chinese market.
This move comes as China boosts its domestic chip production, aiming to lessen reliance on American technology.
Nvidia CEO Jensen Huang expressed disappointment but said he understands the broader tensions between China and the US.
He added that Nvidia will remain patient and supportive of both governments as they navigate these challenges.
The ban follows earlier US export restrictions on Nvidia’s AI chips for China, creating a squeeze for the company from both sides.
Despite this, observers say China’s growing confidence in homegrown AI chips, led by companies like Huawei and Cambricon, is driving the push. Read full report here.
Kimmel show pulled amid controversy
ABC has suspended Jimmy Kimmel’s late-night show indefinitely following a backlash over his recent comments about the tragic shooting of conservative activist Charlie Kirk.
Kimmel criticized Trump supporters, referring to them as the “MAGA gang,” which sparked fierce criticism from conservatives and drew attention from the Federal Communications Commission (FCC).
FCC chairman Brendan Carr warned that ABC affiliates could face serious consequences, including losing broadcast licenses, if the network didn’t act.
Under pressure from affiliates like Nexstar and Sinclair, which removed the show from their lineups, ABC and Disney decided to pull the show to avoid further backlash.
While Kimmel’s contract runs through May 2026, the suspension puts his show’s future in question. The controversy highlights the fragile balance between free speech and political pressure in today’s media landscape.
Kimmel has yet to respond publicly, but sources say Disney hopes to find a path to bring the show back. Read full report here.
Fed cuts rates amid slowdown
The US Federal Reserve cut interest rates by 0.25 percentage points on September 17, marking its first rate cut in 2025.
The new target range for the federal funds rate is now 4% to 4.25%. The move comes as the Fed grapples with a slowing labor market, where job gains have decelerated and unemployment edged up to 4.3%, though still low by historical standards.
Inflation remains elevated, complicating the Fed’s delicate balancing act between controlling prices and supporting employment.
Policymakers are cautious, signaling more rate cuts could come later this year if the economy continues to weaken. The decision reflects concerns that downside risks to employment have increased, even as inflationary pressures persist.
Some Fed members preferred a larger cut, but the committee opted for a modest step to carefully weigh incoming economic data.
The announcement sends a signal that the central bank is ready to ease policy to sustain growth without letting inflation run out of control. Read full report here.
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