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- Trump, Xi to hold call at 9 AM ET, discussions on TikTok framework deal, tariffs likely
Trump, Xi to hold call at 9 AM ET, discussions on TikTok framework deal, tariffs likely
Bay Area Times
September 19, 2025
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Top stories today:
- Trump, Xi to hold call today, discussions on TikTok deal likely
- Intel +23% on NVIDIA’s $5B investment, best single day since Oct. 1987
- Elon’s xAI said to tell employees Grok has 64M monthly users
- Apple’s iPhone 17, Air, new Watch models, AirPods Pro 3 go on sale
- Trump team said to weigh $550B manufacturing push
0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).
All times are ET.
Listen to our AI-generated podcast summarizing today’s newsletter (beware of hallucinations):
1. Trump, Xi to hold call at 9 AM ET, discussions on TikTok framework deal, tariffs likely
Markets are seeing a 73% chance TikTok’s U.S. deal will close by Dec. 31:
Trump remained noncommittal in an interview on Thu., signaling that a lot rides on how Xi responds.
“It sounds like they’ve approved TikTok, and TikTok is a tremendous amount of money for the United States,” Trump said.
The call may also tee up a potential in-person meeting later.
Jun.: the last talk between Trump and Xi happened.
Relatedly, Treasury Secy. Bessent suggested acceptance of Yuan exchange rate versus the dollar.
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3. Intel +23% on NVIDIA’s $5B investment, best single day since Oct. 1987
NVIDIA’s investment is part of a deal to co-develop data center and PC chips with Intel.
Big win for Leopold Aschenbrenner's Situational Awareness fund, which was already +47% in H1.
Intel call options were their largest long as of H1.
The stake is being made at $23.28 per share.
Manufacturing of NVIDIA chips at Intel foundry doesn’t appear to be part of the deal.
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5. Elon’s xAI said to tell employees Grok has 64M monthly users
