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Oil prices settled down more than 2% on Friday as investors fretted about weaker Chinese demand and a potential slowing in the pace of U.S. Federal Reserve interest rate cuts.
"Global oil demand is getting weaker," said International Energy Agency (IEA) Executive Director Fatih Birol on Friday at the COP29 summit.
"We have been seeing this for some time and this is mainly driven by the slowing Chinese economic growth and the increasing penetration of electric cars around the world."
Nvidia's new Blackwell AI chips, which have already faced delays, have encountered problems with accompanying servers that overheat, causing some customers to worry they will not have enough time to get new data centers up and running, the Information reported on Sunday.
The Blackwell graphics processing units overheat when connected together in server racks designed to hold up to 72 chips, the report said, citing sources familiar with the issue.
