Latest news with #securityrisks
Bloomberg
31-07-2025
- Business
- Bloomberg
China Summons Nvidia Over H20 Chip Security Risk; US Copper Premium Evaporates
Chinese authorities summoned Nvidia to discuss alleged security risks related to its H20 chips. The Cyberspace Administration of China called company representatives into a meeting to discuss what it deemed serious security vulnerabilities with the artificial intelligence chip. In a statement, the internet watchdog cited comments by US lawmakers about the need to install tracking capabilities into advanced chips sold to other countries. Elsewhere, The global copper market is reeling from its biggest shock yet. President Donald Trump went ahead with 50% tariffs on copper imports, but exempted refined metals that are the mainstay of international trading. The move triggered a record plunge for US prices. Today's guests: Nadia Grant, BNP Paribas Asset Management Global Equities Head, Thomas Wagner, BCFC Co-Owner, Conrad Keijzer, Clariant CEO, Jonathan Stanton, The Weir Group CEO. (Source: Bloomberg)
CNA
31-07-2025
- Business
- CNA
China flags concerns over potential security risks in Nvidia's H20 chips
BEIJING: China raised concerns over potential security risks in Nvidia's H20 artificial intelligence chip, casting uncertainty over the US company's sales prospects in China weeks after a US export ban was reversed. The Cyberspace Administration of China, the country's internet regulator, said it was concerned by a US proposal for advanced chips sold abroad to be equipped with tracking and positioning functions. It said it had summoned Nvidia to a meeting on Thursday (Jul 31) to explain whether its H20 AI chip had any backdoor security risks, as it was worried that Chinese user data and privacy rights could be affected. Nvidia did not immediately respond to a Reuters request for comment. In May, US Senator Tom Cotton introduced a bill that would direct the Commerce Department to require location verification mechanisms for AI chips subject to export restrictions, to curb Chinese access to advanced US semiconductor technology. Nvidia has been in the crosshairs of US-China relations and China's move comes shortly after the US this month reversed an April ban on Nvidia selling the H20 chip to China. The company developed the H20 chip for the Chinese market after the US imposed export restrictions on advanced AI chips in late 2023. Last month, Nvidia CEO Jensen Huang embarked on a very public and effusive visit to China, where he sought to demonstrate his commitment to the Chinese market, met with government officials and praised the country's AI advances. The CAC statement did not elaborate on what backdoor security risks there could be or say what the Chinese government was considering doing as a result. Nvidia's products are highly sought after not just by Chinese tech companies but also by Chinese military bodies, state-run AI research institutes and universities. The company placed an order for 300,000 H20 chipsets last week due to strong demand, Reuters reported. Chinese authorities and industry associations have in the past accused US tech companies of posing security risks, with varying consequences. In early 2023, China barred key operators of the country's infrastructure from purchasing from Micron, saying that a review it conducted had found that the US memory chip maker's products posed serious security risks. Last year, an industry group, the Cybersecurity Association of China, called for Intel products sold in China to be subject to a security review, but Chinese regulators have not publicly responded. Nvidia is also facing an antitrust investigation in China. The State Administration for Market Regulation announced late last year it was investigating the chipmaker over suspected violations of the country's anti-monopoly law. The regulator said Nvidia was also suspected of violating commitments it made during its acquisition of Israeli chip designer Mellanox Technologies, under terms outlined in the regulator's 2020 conditional approval of that deal.
Reuters
31-07-2025
- Business
- Reuters
China flags concerns over potential security risks in Nvidia's H20 chips
BEIJING, July 31 (Reuters) - China raised concerns over potential security risks in Nvidia's (NVDA.O), opens new tab H20 artificial intelligence chip, casting uncertainty over the U.S. company's sales prospects in China weeks after a U.S. export ban was reversed. The Cyberspace Administration of China, the country's internet regulator, said it was concerned by a U.S. proposal for advanced chips sold abroad to be equipped with tracking and positioning functions. It said it had summoned Nvidia to a meeting on Thursday to explain whether its H20 AI chip had any backdoor security risks, as it was worried that Chinese user data and privacy rights could be affected. Nvidia did not immediately respond to a Reuters' request for comment. In May, U.S. senator Tom Cotton introduced a bill that would direct the Commerce Department to require location verification mechanisms for AI chips subject to export restrictions, to curb Chinese access to advanced U.S. semiconductor technology. Nvidia has been in the crosshairs of U.S.-China relations and China's move comes shortly after the U.S. this month reversed an April ban on Nvidia selling the H20 chip to China. The company developed the H20 chip for the Chinese market after the U.S. imposed export restrictions on advanced AI chips in late 2023. Last month, Nvidia CEO Jensen Huang embarked on a very public and effusive visit to China where he sought to demonstrate his commitment to the Chinese market, met with government officials and praised the country's AI advances. The CAC statement did not elaborate on what backdoor security risks there could be or say what the Chinese government was considering to do as a result. Nvidia's products are highly sought after not just by Chinese tech companies but also by Chinese military bodies, state-run AI research institutes and universities. The company placed an order for 300,000 H20 chipsets last week due to strong demand, Reuters reported. Chinese authorities and industry associations have in the past accused U.S. tech companies of posing security risks, with varying consequences. In early 2023, China barred key operators of the country's infrastructure from purchasing from Micron (MU.O), opens new tab, saying that a review it conducted had found that the U.S. memory chip maker's products posed serious security risks. Last year, an industry group, the Cybersecurity Association of China, called for Intel (INTC.O), opens new tab products sold in China to be subject to a security review, but Chinese regulators have not publicly responded. Nvidia is also facing an antitrust investigation in China. The State Administration for Market Regulation announced late last year it was investigating the chipmaker over suspected violations of the country's anti-monopoly law. The regulator said Nvidia was also suspected of violating commitments it made during its acquisition of Israeli chip designer Mellanox Technologies, under terms outlined in the regulator's 2020 conditional approval of that deal.
Yahoo
22-06-2025
- Business
- Yahoo
Federal Transport Minister Freeland slams B.C. Ferries deal with Chinese company
B.C. Ferries has drawn the ire of federal Transportation Minister Chrystia Freeland for its decision to contract a Chinese state-owned shipyard to build four new vessels for its passenger fleet. Freeland also expressed concerns about security risks related to the contract. In a letter to B.C.'s Transportation Minister Mike Farnworth released Friday afternoon, Freeland expressed her "great consternation and disappointment" with the ferry operator. "I am dismayed that B.C. Ferries would select a Chinese state-owned shipyard to build new ferries in the current geopolitical context," Freeland wrote. Earlier this month, B.C. Ferries said the winning bidder on the contract is China Merchants Industry Weihai Shipyards. No Canadian companies bid on the ships, according to B.C. Ferries. But Freeland said, given the value of the contract and the amount of taxpayer money provided to B.C. Ferries' operations, she would have expected Canadian companies to be involved in the bid process. "I am surprised that B.C. Ferries does not appear to have been mandated to require an appropriate level of Canadian content in the procurement or the involvement of the Canadian marine industry," she wrote. Freeland said China has imposed "unjustified tariffs" on Canadian goods, including 100 per cent tariffs on canola oil, meal and pea imports and a 25 per cent duty on Canadian aquatic products and pork. She asked her provincial counterpart to share what it will do to address potential threats to security, including cybersecurity, and determine how B.C. Ferries will lessen "the risks that vessel maintenance and spare parts may pose." "I would like your assurance that B.C. Ferries conducted a robust risk assessment, and I expect them to engage with the relevant provincial and federal security agencies and departments to mitigate any security risk." WATCH | Farnworth worries about B.C. Ferries contract: Freeland said the federal government has a long record of providing financial support to B.C. Ferries, including a federal subsidy of $37.8 million in 2025-26 dating back to a 1977 agreement. The letter went on to say the Canada Infrastructure Bank is providing the ferry operator with a $75-million loan to finance the purchase of four zero-emission ferries and install charging infrastructure Freeland asked Farnworth to confirm "with utmost certainty" that no federal funding would be used to acquire the new ferries. In an emailed statement late Friday, Farnworth said he has spoken to Freeland about the need to bolster the province's shipbuilding sector. "B.C. has the skilled labour — a partnership with the federal government, provincial governments, and industry is essential for Canadian shipyards to expand physical capacity to build commercial vessels on both coasts," he said. The B.C. Ministry of Transportation said it is reviewing Freeland's letter. Jeff Groot, executive director of communications with B.C. Ferries, said Weihai Shipyards was selected following a rigorous and transparent procurement process. "It was the strongest bid by a significant margin," he said in an emailed statement. Groot said Canadian companies have acquired around 100 vessels built at Chinese shipyards over the last decade. "Globally, only a few shipyards have the capacity to deliver complex passenger ferries on the timelines and budgets required." Groot said B.C. Ferries has been working with Transport Canada since before the contract was signed, and with Public Safety Canada on safety and security issues. "Also, sensitive systems will be sourced separately and independently certified before the vessels enter service. B.C. Ferries intends that all of our IT networks will be procured from within Canada and installed on the ship by B.C. Ferries' own personnel," Groot said. He added a full-time B.C. Ferries oversight team will be on site at the shipyard.
CBC
21-06-2025
- Business
- CBC
Canada Transport Minister Freeland slams B.C. Ferries deal with Chinese company
B.C. Ferries has drawn the ire of federal Transportation Minister Chrystia Freeland for its decision to contract a Chinese state-owned shipyard to build four new vessels for its passenger fleet. Freeland also expressed concerns about security risks related to the contract. In a letter to B.C.'s Transportation Minister Mike Farnworth released Friday afternoon, Freeland expressed her "great consternation and disappointment" with the ferry operator. "I am dismayed that B.C. Ferries would select a Chinese state-owned shipyard to build new ferries in the current geopolitical context," Freeland wrote. Earlier this month, B.C. Ferries said the winning bidder on the contract is China Merchants Industry Weihai Shipyards. No Canadian companies bid on the ships, according to B.C. Ferries. But Freeland said, given the value of the contract and the amount of taxpayer money provided to B.C. Ferries' operations, she would have expected Canadian companies to be involved in the bid process. "I am surprised that B.C. Ferries does not appear to have been mandated to require an appropriate level of Canadian content in the procurement or the involvement of the Canadian marine industry," she wrote. Freeland said China has imposed "unjustified tariffs" on Canadian goods, including 100 per cent tariffs on canola oil, meal and pea imports and a 25 per cent duty on Canadian aquatic products and pork. She asked her provincial counterpart to share what it will do to address potential threats to security, including cybersecurity, and determine how B.C. Ferries will lessen "the risks that vessel maintenance and spare parts may pose." "I would like your assurance that B.C. Ferries conducted a robust risk assessment, and I expect them to engage with the relevant provincial and federal security agencies and departments to mitigate any security risk." WATCH | Farnworth worries about B.C. Ferries contract: Transportation minister concerned over B.C. Ferries' construction deal with Chinese shipyard 9 days ago Duration 2:06 Freeland said the federal government has a long record of providing financial support to B.C. Ferries, including a federal subsidy of $37.8 million in 2025-26 dating back to a 1977 agreement. The letter went on to say the Canada Infrastructure Bank is providing the ferry operator with a $75-million loan to finance the purchase of four zero-emission ferries and install charging infrastructure Freeland asked Farnworth to confirm "with utmost certainty" that no federal funding would be used to acquire the new ferries. In an emailed statement late Friday, Farnworth said he has spoken to Freeland about the need to bolster the province's shipbuilding sector. "B.C. has the skilled labour — a partnership with the federal government, provincial governments, and industry is essential for Canadian shipyards to expand physical capacity to build commercial vessels on both coasts," he said. The B.C. Ministry of Transportation said it is reviewing Freeland's letter. B.C. Ferries' response Jeff Groot, executive director of communications with B.C. Ferries, said Weihai Shipyards was selected following a rigorous and transparent procurement process. "It was the strongest bid by a significant margin," he said in an emailed statement. Groot said Canadian companies have acquired around 100 vessels built at Chinese shipyards over the last decade. "Globally, only a few shipyards have the capacity to deliver complex passenger ferries on the timelines and budgets required." Groot said B.C. Ferries has been working with Transport Canada since before the contract was signed, and with Public Safety Canada on safety and security issues. "Also, sensitive systems will be sourced separately and independently certified before the vessels enter service. B.C. Ferries intends that all of our IT networks will be procured from within Canada and installed on the ship by B.C. Ferries' own personnel," Groot said. He added a full-time B.C. Ferries oversight team will be on site at the shipyard.
