The Globe and Mail reports in its Thursday, Sept. 18, edition that Nvidia chief executive officer Jensen Huang stated that Washington and Beijing have larger agendas to address as the company navigates the U.S.-China trade war while meeting global demand for its artificial intelligence chips. A Reuters dispatch to The Globe reports that Mr. Huang's comments came after reports that China's Internet regulator has instructed major tech firms to halt and cancel orders for Nvidia's chips, despite a strong desire from these firms to acquire them. Nvidia stands out in the U.S.-China trade war, dominating the AI chip market and attracting attention from both the White House and China's Xi Jinping, despite ongoing trade tensions. "We can only serve a market if a country desires it," Mr. Huang stated in London, commenting on China's regulations. "I'm disappointed, but I'm patient as they address larger issues between China and the United States."
Shares of the company, valued at more than $4.2-trillion (U.S.), were down 2.6 per cent on Wednesday.
Running Point Capital analyst Michael Ashley Schulman Jensen says Mr. Huang's diplomatic comment about "larger agendas" is CEO-speak for, "We're pawns in a digital Cold War."
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