Nvidia is set to report its second-quarter earnings on Wednesday, in a first test of investor appetite since last week’s mass AI-stock selloff. All eyes will be on the chipmaker’s latest financials as the company sets the tone for the rest of the AI industry after a turbulent week in the sector. Several tech stocks saw shares tumble last week amid growing questions over whether AI-driven companies are being overvalued, including an MIT report that said 95% of AI pilots fail to grow company’s revenues and statements from the OpenAI…
Tag: Nvidia
Trump sparks concern after suggesting he might allow sales of Nvidia’s advanced AI chips in China
Donald Trump has suggested he might allow Nvidia to sell chips in China that are more technology advanced than currently permitted, despite deep-seated fears in Washington that Beijing could harness US artificial intelligence capabilities to supercharge its military. In a briefing on Monday, the president suggested he could “make a deal” for Nvidia to sell a downgraded version of its flagship Blackwell chip in China. The move could open the door to China securing more advanced computing power from the US, even as the two countries battle for technology supremacy,…
Nvidia and AMD agree to pay 15% of China chip export revenues to US
The chipmakers Nvidia and AMD have agreed to give the US government 15% of their revenue from advanced chips sold to China in return for export licences to the key market. The unprecedented move, an apparent reversal of US national security restrictions on the chip sales, signalled an easing in the US-China trade war. Donald Trump has weaponised trade restrictions and tariffs to bring business to US shores. However, the quid pro quo arrangement, first reported by the Financial Times, is potentially unconstitutional. The arrangement will lead to Nvidia giving…
Trump permits Nvidia to sell advanced chips in China, CEO says
Nvidia’s CEO, Jensen Huang, says the chipmaker has won approval from the Trump administration to sell its advanced computer chips used to develop artificial intelligence to China. “Today, I’m announcing that the US government has approved for us filing licenses to start shipping H20s,” Huang told reporters in Beijing. The news came in a company blog post late on Monday. “The US government has assured Nvidia that licenses will be granted, and Nvidia hopes to start deliveries soon,” the post said. Huang also spoke about the coup on China’s state-run…
Tech shares climb after strong Nvidia results despite warning over rise of Chinese rivals
Technology shares climbed on Thursday, buoyed by strong results from Nvidia, despite the AI chip company’s boss issuing a warning about the rise of Chinese rivals. The Stoxx Europe tech index rose by 0.8% on Thursday following Nvidia’s financial report, with the Dutch semiconductor equipment maker ASML rallying by 2.4%. In the US, futures for the tech-focused Nasdaq climbed 2%, and shares in Nvidia itself jumped 6% in pre-market trading. The boost to tech and artificial intelligence stocks came hours after Nvidia beat Wall Street forecasts, with quarterly revenues jumping…
US chip export controls are a ‘failure’ because they spur Chinese development, Nvidia boss says
US chip exports controls have been a “failure”, the head of Nvidia, Jensen Huang, told a tech forum on Wednesday, as the Chinese government separately slammed US warnings to other countries against using Chinese tech. Successive US administrations have imposed restrictions on the sale of hi-tech AI chips to China, in an effort to curb China’s military advancement and protect US dominance of the AI industry. But Huang told the Computex tech forum in Taipei that the controls had instead spurred on Chinese developers. “The local companies are very, very…
Nvidia’s CEO makes surprise visit to Beijing after US restricts chip sales to China
The chief executive of the American chip maker Nvidia visited Beijing on Thursday, days after the US issued fresh restrictions on sales of the only AI chip it was still allowed to sell to China. Jensen Huang’s surprise visit was on the invitation of a trade organisation, according to a social media account affiliated with state media. The official broadcaster China Central Television said Huang met Ren Hongbin, the head of the China Council for the Promotion of International Trade, where he said he hopes “to continue to cooperate with…