The CEO of US chipmaker Nvidia, Jensen Huang, has praised China’s contribution to the development of artificial intelligence (AI). China has made “significant contributions” to the research that cutting-edge AI technology offers, Taiwan-born Huang said in Hong Kong.
“Open science and open research in AI are absolutely global,” and according to him, “this will not change in the near future.”
Export ban on certain AI chips
Trade in the AI sector between the US and China is politically sensitive: under outgoing President Joe Biden, the US government banned Nvidia from selling certain AI chips to China.
The US views China as a strategic competitor, including in the development and production of modern semiconductors. A technology trade war has been raging for years with tariffs and export restrictions.
Nvidia is currently the most valuable company in the world
At the beginning of November, Nvidia, based in the US state of California, once again became the most valuable company in the world. The market capitalization recently reached $3.58 trillion (€3.43 trillion).
The previous number one, Apple, was at $3.46 trillion. Nvidia is therefore more valuable than all DAX companies combined. According to quarterly earnings released on Wednesday, Nvidia increased its net profit from July to September to $19.3 billion – more than double the figure compared to the same quarter last year.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
