Nvidia CEO Jensen Huang Slams US Chip Export Restrictions as Stock Sets Records
Nvidia CEO Jensen Huang has been vocal against US chip export restrictions, asserting they bolster NVidia's stock and China's tech industry. Meanwhile, investors remain bullish on NVidia's stock, despite analyst warnings of a potential bubble.
Huang argues that free technology exchange is crucial for global spread and US geopolitical influence. However, the US has been attempting to hinder China's tech growth to maintain dominance. China, though 'nanoseconds' behind the US in chip technology, boasts massive manufacturing capacities and a highly qualified workforce.
The recent export license granted for NVidia's H20 chip has sparked interest. Yet, demand in China is not high, and Beijing has encouraged companies to opt for local providers like Huawei instead. Huawei, led by Ren Zhengfei and Xu Zhijun, has been advancing China's tech self-sufficiency with its own Ascend processors and AI supercomputing clusters. Despite these developments, NVidia's stock continues to set records, trading near $190 after hours on Wednesday, with investors seemingly unfazed by bubble warnings.
NVidia CEO Jensen Huang's stance against US chip export restrictions highlights the complex geopolitical dynamics at play in the tech industry. While China continues to develop its tech sector, NVidia's stock remains strong, reflecting investors' confidence in the company's prospects.
