Jensen Huang, co-founder and chief executive officer of Nvidia which is set to earn over €11 billion from Chinese chip sales this year. Photograph: BloombergNvidia is on course to sell $12 billion worth of artificial intelligence chips in China this year despite US export controls that have throttled its business in one of the world’s biggest semiconductor markets.
Nvidia is the latest Silicon Valley company to find itself entangled in tensions between Washington and Beijing. The Biden administration wants to stem the flow of the world’s most powerful chips to China, fearing Beijing may use them to create more powerful AI systems with military applications.
Colette Kress, Nvidia’s finance chief, said on the same call that revenue from its data centre segment – which includes AI chips – in China in the latest quarter was “down significantly from the level prior to the imposition of the new export control restrictions in October”. “Buyers report positive feedback on the potential competitiveness of H20 clusters,” Morgan Stanley wrote in a research note to clients this week, pointing to “strong China demand”.
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