Bipartisan senators press Nvidia CEO over China trip
The bipartisan senators urged Huang to refrain from meeting with companies doing business with the country's military or intelligence, in addition to those that face U.S. export restrictions or are suspected of trying to evade U.S. curbs.
'There is a new bipartisan consensus that the hardware powering advanced AI, which includes NVIDIA graphics processing units (GPUs), is of immense strategic importance,' the pair wrote in Friday's letter.
'If exported freely to the [People's Republic of China], this hardware could accelerate the PRC's efforts to modernize its military,' they continued.
Nvidia produces chips that have become central to powering the AI boom. However, some of its most advanced chips are subject to U.S. export controls.
Huang is expected to travel to Beijing next week to meet with top Chinese leaders while at the International Supply Chain Expo, according to The Financial Times. The trip comes as Nvidia reportedly plans to release a new chip for China designed to comply with the U.S. restrictions.
'We hope you agree that it would be deeply irresponsible for an American CEO to meet with companies that violate U.S. law and are actively developing military capabilities that could undermine U.S. national security,' Warren and Banks added. 'We ask that you refrain from any such meetings during your upcoming trip.'
The duo this spring urged further review of Nvidia's plans to open a research facility in Shanghai, citing national and economic security worries.
The Nvidia CEO was spotted by reporters at the White House on Thursday, the same day the company became the first to close with a market capitalization above $4 trillion.
The chipmaker briefly crossed the milestone Wednesday morning, before dipping back down below $4 trillion. The company, which first hit the $1 trillion mark just two years ago, has seen a remarkable rise in recent years fueled by the AI craze.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
5 minutes ago
- Yahoo
Nvidia CEO's China charm offensive underscores rock star status in key market
By Che Pan, Liam Mo and Casey Hall BEIJING/SHANGHAI (Reuters) -Nvidia CEO Jensen Huang is no stranger to Beijing, but his most recent visit, his third to China this year, cemented his rock star status in the country, where fans mingled freely with the AI titan on the streets of the capital. It was a rare sight for a chief executive of one of the world's most powerful companies to roam around Beijing, engage in wide-ranging interviews, take selfies with excited fans and even sign leather jackets - a signature clothing item of the billionaire - for his devoted followers. The tycoon at the helm of the world's most valuable company arrived in Beijing for a supply chain expo last week just days after meeting U.S. President Donald Trump and announced the AI giant would once again be able to sell its H20 chips in China following a U.S. ban in April on national security concerns. Huang's company is caught in the cross-hairs of a U.S.-China trade war that threatens to upend supply chains as both countries battle for global dominance in AI and other cutting-edge technologies, threatening Nvidia's $17 billion China business. While Huang appears to be navigating a delicate tightrope between Beijing and Washington well, the company remains subject to the ups and downs of Sino-U.S. tensions, analysts said. "Jensen Huang's visit aimed to demonstrate Nvidia's commitment to the Chinese market," said Lian Jye Su, a chief analyst at tech research firm Omdia. "However, this commitment must be balanced against potential U.S. government concerns about deepening ties with China." Huang described AI models from Chinese firms Deepseek, Alibaba and Tencent as "world class" and his official engagements included a "wonderful" meeting with Chinese trade tsar and Vice Premier He Lifeng and a face-to-face with Commerce Minister Wang Wentao. Demand for H20 chips surged in China following the launch of DeepSeek models in January. "Nvidia will still need to see the tide clearly and ride it at the right time to maximize the available benefits. But good for the company, I think it has a CEO who's very good at doing that," said Tilly Zhang, a technology analyst with Gavekal Dragonomics. Charlie Chai, an analyst with 86Research, said Nvidia's China market share was likely to slide in years to come. "The Chinese government will actively help or subsidize domestic rivals that can one day stand up to and, at least in some use cases, replace high-end Nvidia chips." SELFIES AND AUTOGRAPHS In an unusual sight for a global CEO visiting China, videos posted on social media platforms showed Huang wandering the streets of Beijing, drink in hand, signing notebooks and posing for selfies. In response to questions about how Washington would likely receive his latest visit to Beijing, the CEO said: "I told President Trump and his cabinet that I was coming to China. Told him about my trip here, and he said, 'Have a great trip'." At the opening of the China International Supply Chain Expo last Wednesday, Huang - who was born in Taiwan but moved to the U.S. at the age of nine - traded his signature leather jacket for a black, traditional Chinese-style jacket and referred to himself in a speech as "Chinese". In his Expo speech, as well as in later comments, Huang was effusive in his praise for Chinese tech giants' capabilities in bringing technology into applications, describing China's supply chain as "vast". Even arch rival Huawei Technologies, a firm that Nvidia is locked in a strategic and intensifying battle for AI chip dominance with, was lauded. "I think the fact of the matter is, anyone who discounts Huawei and anyone who discounts China's manufacturing capability is deeply naive. This is a formidable company," Huang told reporters. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
San Francisco Chronicle
36 minutes ago
- San Francisco Chronicle
Chinese investors snap up stocks on hopes for an end to price wars and overcapacity
BEIJING (AP) — China's stock market is buzzing over government promises to tackle price wars that have hurt profits and worsened global trade tensions. The prevailing catchphrase is 'anti-involution,' and it reflects efforts to curb intense competition and overcapacity in industries like solar panels, steel, and electric vehicles. With rising trade barriers such as President Donald Trump's higher tariffs, and relatively weak domestic demand, manufacturers have been slashing prices, undermining their bottom lines and driving some out of business. The producer price index, which measures the price that factories receive for their goods, has fallen steadily for nearly three years in China in a prolonged bout of deflation. The long-running issue spilled over into global markets as low-priced Chinese exports worsen trade friction with key trading partners including the United States and Europe. Solar panel glass makers agree to cut output by 30% In a series of recent statements, the Chinese government and industry associations have signaled they're getting serious about reining in cut-throat competition, known as invollution or 'neijuan' in Chinese. The top 10 makers of glass for solar panels agreed on June 30 to shut kilns and cut production by 30%, an industry association said. The government has launched an auto safety inspection campaign, addressing concerns that automakers were skimping on quality to cut costs. It's unclear whether these efforts will succeed, but the sense that China may finally be tackling this chronic problem was enough to spark a rally in stocks in some of those under-pressure sectors. Shares of Liuzhou Iron & Steel Co. gained 10% on Friday and have risen more than 70% since June 30. Solar panel glass producer Changzhou Almaden Co. fell at the end of last week but is still up about 50%. More broadly, two exchange traded funds in solar panels and steel have risen about 10%, outpacing a 3.2% rise in the Shanghai Composite, China's leading market index. The performance of EV-maker stocks has been mixed, with Li Auto and Nio recording double-digit percentage gains while market leader BYD declined. Foreigners can't buy Chinese stocks directly but they are able to invest in about 2,700 stocks and 250 exchange traded funds through the Hong Kong exchange. Government calls intense price wars 'disorderly' The gains follow high-level government pronouncements against disorderly price wars. On June 29, the People's Daily newspaper, the mouthpiece of the ruling Communist Party, ran a lengthy page 1 article on involution, saying they run counter to the party's goal of high quality economic development. Chinese leader Xi Jinping weighed in at a closed-door economic meeting, calling for better regulating competition and incentives by local governments to attract factory investments that are blamed for overinvestment in affected industries. The tougher talk began with a focus on automakers in late May, specifically around electric vehicle price wars that began more than three years ago. Analysts at investment bank UBS said the shift is good news for auto industry profits and company stocks. 'Though it's difficult to imagine a sudden U-turn of the industry from fierce competition to orderly consolidation, it's indeed possible to have near-term ceasefire of the price war,' they wrote. Weak demand and overcapacity bring a fight for survival After BYD launched another round of price cuts on May 23, some competitors, the main industry association and government all called for fair and sustainable competition. The EV battery industry, the cement association and major construction companies have issued statements echoing calls for an end to excess competition. The term involution, which suggests a spiraling inward and shrinking, was initially applied in China to students and young workers, who felt they were caught up in meaningless competition that led nowhere as the job market weakened and wages stagnated in recent years. At the industry level, it has come to mean sectors that have too many companies competing for a slice of the pie, leading to fierce price cutting to try to gain market share. The mismatch between production capacity — how much an industry can make — and actual demand for the product, reflects overcapacity that forces companies to compete for survival in a limited market space, said a recent article in the Communist Party magazine Qiushi. Obstacles to fixing the problem Some Chinese industries, especially steel and cement, have long suffered from overcapacity. A government push to promote green industries has fostered similar problems in that sector, including solar panels, wind turbines and electric vehicles. A flood of Chinese exports is leading to more trade barriers in Europe and the U.S. and in some emerging markets such as Mexico, Indonesia and India. Ultimately, economists say industries need to consolidate through company mergers and bankruptcies. But the process will take time. A major obstacle is provincial governments that want to protect local companies and jobs. Alicia García-Herrero, the chief economist for Asia-Pacific at the Natixis investment bank, said that recent comments by top Chinese economic officials suggest they realize something needs to be done. 'How much is action versus words, I don't know,' she said. 'But I do think it's a big problem for China.'
Yahoo
an hour ago
- Yahoo
YUAN Unveils Pandora: Ready-to-Deploy Edge AI Designed for Developers
TAIPEI, July 21, 2025 /PRNewswire/ -- YUAN High-Tech, a leader in AI and imaging solutions, announces Pandora, an ultra-compact edge AI platform powered by NVIDIA® Jetson Orin™ NX Super mode. Already deployed in education, smart retail, and robotics, Pandora enables real-time analytics, localized AI-driven services, and autonomous systems—without relying on the cloud. Weighing just 470g, Pandora delivers 157 TOPS of AI performance and offers modular flexibility tailored to developers' needs. Key Features: Dual Gigabit Ethernet ports 4× USB ports (with OTG support) HDMI 2.0 and audio I/O 4× M.2 slots (for SSD, Wi-Fi, Bluetooth, 5G/LTE) MIPI CSI, UART, CAN Bus interfacesyu GPIO header for industrial/IoT integration Optional HDMI/SDI capture card Detachable housing for 3D-printed customization Pandora supports the full NVIDIA Jetson ecosystem, including Jetson Platform Services, TAO Toolkit, and Metropolis Microservices. It runs mainstream AI models such as LLaMA, ChatGLM, Stable Diffusion, and ViT, enabling NLP, CV, OCR, and generative AI tasks. YUAN's proprietary modules further support real-time object, face, and behavior recognition. About YUAN High-TechYUAN delivers advanced video capture and edge AI solutions for industrial and commercial use. Contact:sales@ | Follow YUAN:LinkedIn | Facebook | X | YouTube View original content to download multimedia: SOURCE YUAN High-Tech
