For the first time in many years, CEO of US chip company Nvidia Jensen Huang went to China to attend a New Year party with employees there.
China Daily , citing sources close to the matter, said Huang visited Nvidia’s offices in Beijing, Shanghai and Guangdong last week. He also attended the company’s New Year party in Beijing, where he wore local costumes and danced in a performance.
This is the first time Huang has returned to China in many years. In June 2023, the media also reported that Huang would visit China and visit several companies. However, that trip did not take place.
Nvidia CEO Jensen Huang performs at the company's New Year party in Beijing. Photo: Nvidia
Huang’s trip was relatively quiet this time around. He didn’t meet with Chinese government officials or announce any major business decisions. Nvidia told yicai.com on Jan. 21 that his main purpose was to “have a great time” with employees in China.
ECNS believes that his trip may also be aimed at reassuring customers, as China is a huge market for Nvidia. ECNS sources say that many customers in China are still not satisfied with the chips that Nvidia designs specifically for this market, due to US export restrictions. Nvidia therefore needs to constantly change its strategy to adapt to the volatile environment.
On the Global Times on January 21, Zhang Xiaorong - Director of the High-Tech Research Institute (Beijing, China) said that in his role as CEO of Nvidia, Huang may want to personally assess the situation in China to adjust strategies and products. According to Reuters , the size of the AI chip market in mainland China is currently around 7 billion USD. More than 90% of the market share belongs to Nvidia.
Over the past two years, the US government has tightened controls on Nvidia’s exports of high-end AI chips to China. Between February 2022 and January 2023, the Chinese market (including Hong Kong and Taiwan) contributed 47% of Nvidia’s revenue.
“Nvidia may need to work with other players in China to ensure its products reach this market,” Zhang said. Strengthening relationships with businesses here will also help Nvidia maintain its competitive edge globally, as China’s supply chain continues to mature.
Ha Thu (according to ECNS)
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