Nvidia (NVDA, Finance) has addressed and mitigated allegations swirling around that they intend to cut back or stop exporting goods to China. Emphasizing its importance on maintaining a strong presence and ongoing customer support in the region, the business identified these claims as false and reiterated its commitment to the Chinese market.
This news comes in line with an ongoing investigation by Chinese government officials, including an antitrust investigation into Nvidia's purchase of Mellanox Technologies. A review of the $6.9 billion deal for potential competition issues will add to the company's management problems in one of the world's most important markets.
Despite legal hurdles, Nvidia is growing in prominence in China by adding more employees, mostly for research and development of autonomous driving technology; the chip giant now employs about 200 people in Beijing, increasing its total workforce in China to nearly 4,000, Bloomberg reported.
With a view to improving AI's reasoning ability for more accurate and complex problem solving, Nvidia CEO Jensen Huang has proposed the idea of ”long thinking” in AI research. This development is expected to spur significant spending in infrastructure and artificial intelligence applications.
This article first appeared on GuruFocus.
Source link
