Jamie Dimon on US-China technology arms race: It's a little embarrassing that we as a nation allowed 100 per cent of our Penicillin to come from China, and all ...
US-China technology arms race
. A recent online report revealed that China is pursuing its major tech companies like Alibaba and ByteDance to reconsider their orders for Nvidia's H20 AI chips even as Chinese regulators have asked tech firms to explain why they are purchasing Nvidia's chips – which US President Donald Trump called 'obsolete' – instead of using domestic alternatives, suggesting that they want the Chinese tech companies to downsize their orders of H20 chips.
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Following this ongoing controversy,
JPMorgan Chase
CEO
Jamie Dimon
has issued a blunt warning about America's vulnerability in the global tech arms race. As reported by Financial Review, speaking at the Reagan National Economic Forum, Dimon called it 'a little embarrassing' that the U.S. allowed 100% of its penicillin supply and critical tech components to come from China. 'It's a little embarrassing that we as a nation allowed 100% of our penicillin to come from China, and all of our rare earths, and all of our advanced chipmaking tools,' Dimon said.
'We need to get our act together.'
Jamie Dimon on the US–China tech race
On being asked about the technology arms race between US and China, Dimon mentioned that it was an important miliarty issue as US cannot allow the sale of a chip to China which is designed to make powerful AI systems.
Dimon also talked about the dependence of America on foreign nations for essential goods and technology. "It's a little embarrassing that we as a nation allowed 100 per cent of our Penicillin to come from China, and all of the rare earth [metals]," Dimon said.
Talking about the ongoing chip dispute, Dimon added that 'You don't want to give them the chips which will make their supersonic missiles better.'Dimon also emphasised that America cannot stop China but can definitely slow them down. 'we should be specific about the things that protect us, and technology is a big piece of that,' said Dimon.
Nvidia's China crisis
Dimon's remarks come as a Nvidia's H20 chips, designed specifically for the Chinese market, face mounting scrutiny from Beijing.
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Recently, Chinese regulators summoned Nvidia representatives over alleged security risks related to
Nvidia H20 AI chips
. However, later Nvidia publicly asserted that its chips contain "no backdoors, no kill switches, and no spyware."
In a blog post shared, Nvidia's chief security officer David Reber has vehemently denied the accusations of Chinese government alleging security risks in H20. 'There is no such thing as a 'good' secret backdoor — only dangerous vulnerabilities that need to be eliminated,' wrote Reber in the blog post.
He argued that it would "undermine global digital infrastructure and fracture trust in US technology.
Now the China is asking its tech companies to reconsider their orders for Nvidia's H20 AI chips. According to a report by Financial Times, the development comes as various Chinese companies have been told to avoid using these AI chips, particularly for government-related projects.
This move complicates the recent export arrangement Nvidia made with the Trump administration, which allowed the chips to be sold in China under the condition of a revenue-sharing agreement.
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