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Time of India
2 days ago
- Automotive
- Time of India
Nvidia discloses more China risks, but CEO Huang praises Trump
Even as Nvidia reported another blockbuster quarter of 69% sales growth on Wednesday, the maker of artificial intelligence chips warned of more risks to its business emerging in the technology conflict between the US and China. Tucked into Nvidia's quarterly filing with US securities regulators, Nvidia for the first time said that restrictions on the use of open-source AI models from China such as DeepSeek and Qwen could hurt its business, as could US rules barring connected vehicle technology from China, where Nvidia's long-struggling car chip business has finally flourished. While Nvidia CEO Jensen Huang on a conference call with analysts praised US President Donald Trump's decision to rescind an export rule put in place by President Joe Biden that would have regulated the flow of Nvidia's chips around the world, the company's quarterly filing noted that no new rule had been issued in its place and that a "replacement rule may impose new restrictions on our products or operations." On the other hand, Huang criticised new export curbs imposed by the Trump administration in April. The curbs stop the company from selling its H20 chip made for the Chinese market, which Huang called "a springboard to global success." The export limits cost Nvidia $2.5 billion in sales during its just-ended fiscal first quarter, and it expects another $8 billion sales hit during the current fiscal second quarter. Sales of the H20 in China earned Nvidia $4.6 billion in revenue as customers stockpiled the chips before the curbs set in. The China business accounted for 12.5% of overall revenue. "The question is not whether China will have AI — it already does. The question is whether one of the world's largest AI markets will run on American platforms," Huang said, later adding that "AI export controls should strengthen US platforms, not drive half of the world's AI talent to rivals." Huang also argued that keeping Chinese open-source models such as DeepSeek and Qwen running on Nvidia chips provides US firms with valuable insight on where the global AI industry is headed. "US platforms must remain the preferred platform for open-source AI," he said. "That means supporting collaboration with top developers globally, including in China. America wins when models like DeepSeek and Qwen run best on American infrastructure." Sales growth powers on Nvidia shares rose 5.6% before the bell on Thursday, leading a rally in chip stocks, as news that a US trade court blocked most of President Donald Trump's proposed tariffs also lifted investor sentiment. The company will add around $150 billion to its market value of about $3.289 trillion, if the gains hold. Despite the China export curbs, Nvidia forecast sales of $45 billion, plus or minus 2%, in the second quarter, only slightly below analysts' average estimate of $45.90 billion, according to data compiled by LSEG. That would imply growth of about 50% from a year earlier. Executives also highlighted deals worth potentially billions of dollars in the coming months and years in Saudi Arabia, the United Arab Emirates and Taiwan, leading analysts to conclude the impact of US-China trade tensions was not as bad as feared. "Rather than downplay the China hit, (Huang) contextualised it as a known, manageable speed bump in an otherwise hyper-accelerated growth narrative," said Michael Ashley Schulman, chief investment officer of Running Point Capital. In his praise for Trump, Huang highlighted the President's deal-filled tour of the Middle East. "President Trump wants US tech to lead," Huang said. "The deals he announced are wins for America, creating jobs, advancing infrastructure, generating tax revenue and reducing the US trade deficit." Huang also said that he agreed with a vision expressed by cabinet officials such as Commerce Secretary Howard Lutnick of bringing factories back to the United States and staffing them with robots. "Future plants will be highly computerised in robotics. We share this vision," Huang said.
Indian Express
2 days ago
- Automotive
- Indian Express
Nvidia discloses more China risks, but CEO praises Trump
Even as Nvidia reported another blockbuster quarter of 69% sales growth on Wednesday, the maker of artificial intelligence chips warned of more emerging risks to its business due to the technology conflict between the U.S. and China. Tucked into Nvidia's quarterly filing with U.S. securities regulators, Nvidia for the first time said restrictions on the use of open-source AI models from China such as DeepSeek and Qwen could hurt its business, as could U.S. rules barring connected-vehicle technology from China, where Nvidia's long-struggling car chip business has finally flourished. While Nvidia CEO Jensen Huang on a conference call with analysts praised U.S. President Donald Trump's decision to rescind an export rule put in place by former President Joe Biden that would have regulated the flow of Nvidia's chips around the world, the company's quarterly filing noted that no new rule had been issued in its place and that a 'replacement rule may impose new restrictions on our products or operations'. On the other hand, Huang criticized new export curbs imposed by the Trump administration in April. The curbs stop the company from selling its H20 chip made for the Chinese market, which Huang called 'a springboard to global success'. The export limits cost Nvidia $2.5 billion in sales during its just-ended fiscal first quarter, and it expects another $8 billion sales hit during the current fiscal second quarter. The company reported $4.6 billion in revenue from H20 sales in China as customers stockpiled the chips before the curbs set in, with the China business accounting for 12.5% of overall revenue. 'The question is not whether China will have AI – it already does. The question is whether one of the world's largest AI markets will run on American platforms,' Huang said, later adding that 'AI export controls should strengthen U.S. platforms, not drive half of the world's AI talent to rivals.' Huang also argued that keeping Chinese open-source models such as DeepSeek and Qwen running on Nvidia chips provides U.S. firms with valuable insight on where the global AI industry is headed. 'U.S. platforms must remain the preferred platform for open-source AI,' he said. 'That means supporting collaboration with top developers globally, including in China. America wins when models like DeepSeek and Qwen run best on American infrastructure.' Republican and Democratic senators Jim Banks and Elizabeth Warren sent a letter to Huang on Wednesday raising national security concerns about Nvidia's plans to open a research and development facility in Shanghai. They also asked the company to provide a timeline and description of its plans for the proposed facility. Nvidia is 'simply leasing a new space for existing employees, who need the room in the post-COVID return to work. The scope of work will remain unchanged,' a company spokesperson said. Nvidia shares rose 4% on Thursday as news that a U.S. trade court blocked most of Trump's proposed tariffs also boosted investor sentiment. The company will add around $130 billion to its market value of about $3.289 trillion, if the gains hold. Despite the China export curbs, Nvidia forecast sales of $45 billion, plus or minus 2%, in the second quarter, only slightly below analysts' average estimate of $45.90 billion, according to data compiled by LSEG. That would imply growth of about 50% from a year earlier. Company executives also highlighted deals worth potentially billions of dollars in the coming months and years in Saudi Arabia, the United Arab Emirates and Taiwan, leading analysts to conclude the impact of U.S.-China trade tensions was not as bad as feared. 'Rather than downplay the China hit, (Huang) contextualized it as a known, manageable speed bump in an otherwise hyper-accelerated growth narrative,' said Michael Ashley Schulman, chief investment officer of Running Point Capital. In his praise for Trump, Huang highlighted the president's deal-filled tour of the Middle East. 'Trump wants U.S. tech to lead,' Huang said. 'The deals he announced are wins for America, creating jobs, advancing infrastructure, generating tax revenue and reducing the U.S. trade deficit.' Huang also said that he agreed with a vision expressed by cabinet officials such as Commerce Secretary Howard Lutnick of bringing factories back to the United States and staffing them with robots. 'Future plants will be highly computerized in robotics. We share this vision,' Huang said.
The Hindu
2 days ago
- Business
- The Hindu
Musk leaves Trump administration; Nvidia discloses more China risks; DeepSeek releases update to R1 model
Musk leaves Trump administration Elon Musk is quitting from his role as an advisor to the Trump administration after leading the cost-cutting efforts under the Department of Government Efficiency or DOGE. Musk also criticised Trump's legislative agenda saying he was 'disappointed' by the 'big beautiful bill.' The legislation combines tax cuts with increased immigration enforcement. Musk said that the 'massive spending bill' weighed on the federal deficit and 'undermined the work' done by DOGE. Although he said that the DOGE mission will strengthen over time, more changes need to be made. Republican Senators like Wisconsin's Ron Johnson sympathised with Musk and thanked him for his contributions saying the government is eager to look into the findings from DOGE. Musk will re-direct his attention to Tesla and SpaceX. While Musk had promised $1 trillion in spending cuts, the target fell short by a lot as he admitted that federal bureaucracy was a harder issue than he had imagined. Nvidia discloses more China risks AI chip manufacturer Nvidia has reported their latest earnings with 69% sales growth but warned that restrictions around the use of open-source AI models from China like DeepSeek and Qwen could impact their business negatively. Their quarterly filing also noted that U.S. banning connected vehicle technology from China could also be detrimental factor given how Nvidia's car chip business has worked. However, Nvidia CEO Jensen Huang praised U.S. President Donald Trump's decision to take back the export rule that had been imposed by President Biden. Huang then criticised new export curbs that Trump later enforced which stops Nvidia from selling their H20 chips in China. The export ban led to a $2.5 billion charge in sales for Nvidia in the first quarter while expecting another $8 billion sales hit in the second quarter. The H20 chip sales generated $4.6 billion in revenue as customers stockpiled chips. Despite these curbs, Nvidia has forecast sales of $45 billion in the second quarter close to analyst estimates which still indicates a 50% growth from last year. Besides, the company will continue to make money from deals with UAE and Taiwan. DeepSeek releases update to R1 model Chinese AI startup DeepSeek has rolled out the update for their R1 reasoning model. The R1-0528 version was released on developer platform Hugging Face but the firm didn't make an official announcement or any post about the AI model's performance. A leaderboard however then showed the upgraded AI model ranking a little behind OpenAI's o4 mini and o3 reasoning models on code generation and outperforming xAI's Grok 3 mini and Alibaba's Qwen 3. DeepSeek has released advanced AI models this year despite the belief that export ban on China imposed by the U.S. was holding AI research in China back. It is also expected that DeepSeek will release R2 in May and the successor to their V3 large language model in March. Since DeepSeek's arrival, China has spurred competition in AI with tech giants like Alibaba and Tencent participating.
Time of India
2 days ago
- Automotive
- Time of India
Nvidia discloses more China risks, but CEO Huang praises Trump
Even as Nvidia reported another blockbuster quarter of 69% sales growth on Wednesday, the maker of artificial intelligence chips warned of more risks to its business emerging in the technology conflict between the US and China. Tucked into Nvidia's quarterly filing with US securities regulators, Nvidia for the first time said that restrictions on the use of open-source AI models from China such as DeepSeek and Qwen could hurt its business, as could US rules barring connected vehicle technology from China, where Nvidia's long-struggling car chip business has finally flourished. While Nvidia CEO Jensen Huang on a conference call with analysts praised US President Donald Trump's decision to rescind an export rule put in place by President Joe Biden that would have regulated the flow of Nvidia's chips around the world, the company's quarterly filing noted that no new rule had been issued in its place and that a "replacement rule may impose new restrictions on our products or operations." Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas For Sale in Dubai Might Surprise You Villas In Dubai | Search Ads Get Rates Undo On the other hand, Huang criticised new export curbs imposed by the Trump administration in April. The curbs stop the company from selling its H20 chip made for the Chinese market, which Huang called "a springboard to global success." The export limits cost Nvidia $2.5 billion in sales during its just-ended fiscal first quarter, and it expects another $8 billion sales hit during the current fiscal second quarter. Sales of the H20 in China earned Nvidia $4.6 billion in revenue as customers stockpiled the chips before the curbs set in. The China business accounted for 12.5% of overall revenue. Live Events "The question is not whether China will have AI — it already does. The question is whether one of the world's largest AI markets will run on American platforms," Huang said, later adding that "AI export controls should strengthen US platforms, not drive half of the world's AI talent to rivals." Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Huang also argued that keeping Chinese open-source models such as DeepSeek and Qwen running on Nvidia chips provides US firms with valuable insight on where the global AI industry is headed. "US platforms must remain the preferred platform for open-source AI," he said. "That means supporting collaboration with top developers globally, including in China. America wins when models like DeepSeek and Qwen run best on American infrastructure." Sales growth powers on Nvidia shares rose 5.6% before the bell on Thursday, leading a rally in chip stocks, as news that a US trade court blocked most of President Donald Trump's proposed tariffs also lifted investor sentiment. The company will add around $150 billion to its market value of about $3.289 trillion, if the gains hold. Despite the China export curbs, Nvidia forecast sales of $45 billion, plus or minus 2%, in the second quarter, only slightly below analysts' average estimate of $45.90 billion, according to data compiled by LSEG. That would imply growth of about 50% from a year earlier. Executives also highlighted deals worth potentially billions of dollars in the coming months and years in Saudi Arabia, the United Arab Emirates and Taiwan, leading analysts to conclude the impact of US-China trade tensions was not as bad as feared. "Rather than downplay the China hit, (Huang) contextualised it as a known, manageable speed bump in an otherwise hyper-accelerated growth narrative," said Michael Ashley Schulman, chief investment officer of Running Point Capital. In his praise for Trump, Huang highlighted the President's deal-filled tour of the Middle East. "President Trump wants US tech to lead," Huang said. "The deals he announced are wins for America, creating jobs, advancing infrastructure, generating tax revenue and reducing the US trade deficit." Huang also said that he agreed with a vision expressed by cabinet officials such as Commerce Secretary Howard Lutnick of bringing factories back to the United States and staffing them with robots. "Future plants will be highly computerised in robotics. We share this vision," Huang said.
The Hindu
3 days ago
- Automotive
- The Hindu
Nvidia discloses more China risks, but CEO Jensen Huang praises Trump
Even as Nvidia reported another blockbuster quarter of 69% sales growth on Wednesday, the maker of artificial intelligence chips warned of more risks to its business emerging in the technology conflict between the U.S. and China. Tucked into Nvidia's quarterly filing with U.S. securities regulators, Nvidia for the first time said that restrictions on the use of open-source AI models from China such as DeepSeek and Qwen could hurt its business, as could U.S. rules barring connected vehicle technology from China, where Nvidia's long-struggling car chip business has finally flourished. While Nvidia CEO Jensen Huang on a conference call with analysts praised U.S. President Donald Trump's decision to rescind an export rule put in place by President Joe Biden that would have regulated the flow of Nvidia's chips around the world, the company's quarterly filing noted that no new rule had been issued in its place and that a "replacement rule may impose new restrictions on our products or operations." On the other hand, Huang criticised new export curbs imposed by the Trump administration in April. The curbs stop the company from selling its H20 chip made for the Chinese market, which Huang called "a springboard to global success." The export limits cost Nvidia $2.5 billion in sales during its just-ended fiscal first quarter, and it expects another $8 billion sales hit during the current fiscal second quarter. Sales of the H20 in China earned Nvidia $4.6 billion in revenue as customers stockpiled the chips before the curbs set in. The China business accounted for 12.5% of overall revenue. "The question is not whether China will have AI; it already does. The question is whether one of the world's largest AI markets will run on American platforms," Huang said, later adding that "AI export controls should strengthen U.S. platforms, not drive half of the world's AI talent to rivals." Huang also argued that keeping Chinese open-source models such as DeepSeek and Qwen running on Nvidia chips provides U.S. firms with valuable insight on where the global AI industry is headed. "U.S. platforms must remain the preferred platform for open-source AI," he said. "That means supporting collaboration with top developers globally, including in China. America wins when models like DeepSeek and Qwen run best on American infrastructure." Despite the curbs, Nvidia forecast sales of $45 billion, plus or minus 2%, in the second quarter, only slightly below analysts' average estimate of $45.90 billion, according to data compiled by LSEG. That would imply growth of about 50% from a year earlier. Executives also highlighted deals worth potentially billions of dollars in the coming months and years in Saudi Arabia, the United Arab Emirates and Taiwan, sending Nvidia shares up after hours and leading analysts to conclude the impact of U.S.-China trade tensions was not as bad as feared. "Rather than downplay the China hit, (Huang) contextualised it as a known, manageable speed bump in an otherwise hyper-accelerated growth narrative," said Michael Ashley Schulman, chief investment officer of Running Point Capital. In his praise for Trump, Huang highlighted the President's deal-filled tour of the Middle East. "President Trump wants U.S. tech to lead," Huang said. "The deals he announced are wins for America, creating jobs, advancing infrastructure, generating tax revenue and reducing the U.S. trade deficit." Huang also said that he agreed with a vision expressed by cabinet officials such as Commerce Secretary Howard Lutnick of bringing factories back to the United States and staffing them with robots. "Future plants will be highly computerised in robotics. We share this vision," Huang said.
