Latest news with #NvidiaChips
The Verge
23-07-2025
- Business
- The Verge
Trump wanted to break up Nvidia — but then its CEO won him over
Not long ago, President Donald Trump hadn't even heard of Nvidia, the most valuable tech company in the world. But once he found out about the AI chip giant, he says, he wanted to break it up. 'Before I learned the facts of life, I said, 'we'll break him up,'' Trump recalled today, in a speech about his new AI Action Plan at an event hosted in Washington, DC. He recounted what seemed to be a conversation between himself and an advisor who he didn't name, who told him it would be 'very hard' to break up Nvidia: I said, 'why?' I said, 'what percentage of the market does he have?' 'Sir, he has 100%,' they said. 'Who the hell is he? What's his name?' 'His name is Jensen Huang, Nvidia.' I said, 'What the hell is Nvidia? I've never heard of it before.' He said, 'you don't want to know about it, sir.' Trump said he backed away from breaking up Nvidia after he realized it could be counterproductive. 'I figured we could go in and we could sort of break them up a little bit, get them a little competition,' Trump said. 'And I found out it's not easy in that business. I said, 'suppose that we put the greatest minds together and they work hand-in-hand for a couple of years.' He said, 'no, it would take at least ten years to catch him if he ran Nvidia totally incompetently from now on.' So I said, 'all right, let's go on to the next one.'' 'And then I got to know Jensen, and now I see why,' Trump added. Huang successfully convinced the Trump administration to let Nvidia sell its H20 chips to China, opening a significant new avenue of revenue that the US had previously closed due to concerns it could help a US adversary advance its own AI efforts. To assuage those fears, Commerce Secretary Howard Lutnick has insisted that the chips it's now allowing to be sold to China are only the 'fourth-best' AI chips, and the idea is to get Chinese developers 'addicted to the American technology stack.' Regardless of how it plays out for US policy, the change has been a boon for Nvidia, which even before the announcement had become the first publicly traded company worth $4 trillion. Under the Biden administration, the Justice Department had reportedly been probing the company on antitrust grounds. But Trump's apparent about-face on breaking it up means we probably shouldn't expect a lawsuit anytime soon. Posts from this author will be added to your daily email digest and your homepage feed. See All by Lauren Feiner Posts from this topic will be added to your daily email digest and your homepage feed. See All AI Posts from this topic will be added to your daily email digest and your homepage feed. See All News Posts from this topic will be added to your daily email digest and your homepage feed. See All Nvidia Posts from this topic will be added to your daily email digest and your homepage feed. See All Policy Posts from this topic will be added to your daily email digest and your homepage feed. See All Politics Posts from this topic will be added to your daily email digest and your homepage feed. See All Tech
Yahoo
09-07-2025
- Business
- Yahoo
China's AI Bet Rises From the Gobi Desert
In a remote part of China's northwestern Xinjiang region, dozens of data centers rise from the desert. A Bloomberg analysis of documents and company filings found Chinese companies plan to buy more than 115,000 high-tech Nvidia chips - chips the US has banned from being exported to China - to power these centers. K. Oanh Ha discusses the story on Bloomberg Television. 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
Bloomberg
09-07-2025
- Business
- Bloomberg
China's AI Bet Rises From the Gobi Desert
In a remote part of China's northwestern Xinjiang region, dozens of data centers rise from the desert. A Bloomberg analysis of documents and company filings found Chinese companies plan to buy more than 115,000 high-tech Nvidia chips - chips the US has banned from being exported to China - to power these centers. K. Oanh Ha discusses the story on Bloomberg Television. (Source: Bloomberg)
Bloomberg
08-07-2025
- Business
- Bloomberg
China's Got Big Plans for AI — In the Desert
By , Yang Yang, and Naomi Garyan Ng Save Never miss an episode. Follow The Big Take daily podcast today. In a remote part of China's northwestern Xinjiang region, dozens of data centers rise from the desert. A Bloomberg analysis of investor and tax documents and company filings found Chinese companies plan to buy more than 115,000 high-tech Nvidia chips — chips the US has banned from being exported to China – to power these centers, which could then be used for training AI models.
Yahoo
27-06-2025
- Business
- Yahoo
Nvidia chip scandal: Singapore court adjourns US$390m fraud case as police examine new leads
SINGAPORE, June 27 — Investigations into three men accused of fraud involving the suspected movement of Nvidia chips are still in the early stages, with Singapore prosecutors requesting more time to build the case. Singaporeans Aaron Woon Guo Jie, 40, and Alan Wei Zhaolun, 49, along with Chinese national Li Ming, 51, were charged four months ago in a case involving an estimated US$390 million (RM1.65 billion), according to a report published in Channel News Asia today. The men did not attend Friday's hearing at the State Courts, where the prosecution sought an eight-week adjournment, citing ongoing investigations by police. Deputy Public Prosecutor Phoebe Tan told the court police had been 'actively pursuing leads' and that the investigation had not progressed enough for a pre-trial conference. While lawyers for Woon and Wei had no objections, Li's lawyer Andrew Chua questioned the need for a further delay and asked for the case to proceed to a pre-trial conference. Tan said police had conducted 10 interviews since the last hearing on May 2, and had contacted both local and foreign agencies for evidence, with some responses still pending. She added that police had examined only 35 of 53 electronic devices and were reviewing new documents that recently emerged. Tan argued that moving to a pre-trial conference now would be premature, as the outstanding evidence could materially affect the charges. Chua eventually withdrew his objection, and the court adjourned the case to August 22 with the possibility of setting pre-trial conferences then. Woon and Wei each face two counts of conspiracy to commit fraud against Dell and Super Micro in 2024, allegedly misrepresenting that server equipment would not be redirected to unauthorised recipients. Li is accused of defrauding Super Micro in 2023 and of unauthorised access to an OCBC corporate account for transactions involving the firm Luxuriate Your Life, which he controlled. The trio were among nine individuals arrested in February after raids linked to suspected efforts to bypass US export controls and ship Nvidia chips from Singapore to China.
