Nvidia CEO goes to China to 'save himself'

On April 17, CEO Jensen Huang made a surprise visit to China to meet with senior officials. He wanted to convey the chip giant's commitment to partners in the billion-people market in the context of Washington's tightening restrictions on semiconductor exports.

According to Xinhua news agency, Huang met with He Lifeng, the Chinese vice premier in charge of US-China trade negotiations. Nvidia CEO said the company will increase its presence in the Chinese market thanks to positive growth prospects.

Meanwhile, the vice premier told Mr Huang that China welcomes US companies, including Nvidia, to invest in the country to take advantage of its “industrial advantages and capabilities.” The Financial Times reported that Huang also met with Liang Wenfeng, founder of DeepSeek, in Beijing to discuss new chip designs for the AI ​​company that would not violate the new ban.

Mr. Huang’s visit to Beijing comes a day after the company disclosed that the U.S. has further tightened export licensing rules, including for Nvidia’s H20 chips sold in China. The latest restrictions could cost Nvidia as much as $5.5 billion .

“We use AI for research, chip design, and supply chain management. So AI has had a significant impact in many industries. But this is just the beginning, because every industry will be affected,” said CEO Jensen Huang.

Jay Puri, Nvidia's executive vice president of global business, and Raymond Teh, Nvidia's vice president of sales and marketing for the Asia-Pacific region, also appeared in China with CEO Jensen Huang. Their mission was to "reassure" Chinese officials and customers that the company would maintain business ties despite the US restrictions.

Meanwhile, Chinese tech giants Tencent Holdings and ByteDance have placed orders for a total of about 460,000 of Nvidia's Hopper series chips by 2024. That's second only to Microsoft, which has ordered 485,000 chips, according to data from research firm Omdia.

Source: https://znews.vn/ceo-nvidia-phai-tu-cuu-minh-post1547021.html