Nvidia CEO Jensen Huang will be celebrating the Lunar New Year with employees instead of attending President-elect Donald Trump's inauguration.
Nvidia CEO Jensen Huang announced on Friday that he will not be attending President-elect Donald Trump's inauguration, choosing instead to celebrate the Lunar New Year with his employees and their families. Huang's decision comes as several other tech industry leaders are scheduled to travel to Washington, D.C. for the event. The Taiwan-born CEO, who has guided Nvidia to become the world's most valuable company through the AI boom, celebrated at an Nvidia party in Taipei on Wednesday.
According to Huang, he has not engaged in discussions with the incoming Trump administration regarding President Joe Biden's recently implemented artificial intelligence export regulations. Huang participated in an Nvidia new year celebration in Shenzhen on Wednesday, as evidenced by Chinese social media posts. He is anticipated to visit Beijing on Monday for the company's festivities there, as stated by a source close to Nvidia. On the same day, Elon Musk, the founder of Tesla and SpaceX, Jeff Bezos, the founder of Amazon, Mark Zuckerberg, the CEO of Meta, and Sam Altman, the CEO of OpenAI, are also scheduled to attend an event hosted by the Chinese government. Huang also disclosed that he had met with C.C. Wei, the chairman of TSMC, Nvidia's largest supplier, for lunch to discuss expanding the production of Nvidia's most advanced Blackwell AI chips. The surge in demand for AI chips has propelled Nvidia's value to unprecedented heights. The chip maker boasts a market capitalization of $3.4 trillion, and its stock has experienced an astonishing increase of over 140% in the past 12 months. However, on Monday, the Biden administration unveiled new export restrictions on advanced computer chips, which could potentially impact Nvidia's revenue streams.Despite this, the new U.S. government export restrictions on AI chips may present challenges to Nvidia's ability to sustain the robust revenue growth anticipated by investors. These regulations impose limitations on AI chip exports to most countries, excluding a select group of close US allies, including Taiwan. The regulations also maintain a ban on exports to certain countries, including China, as the US strives to close regulatory loopholes and prevent Beijing from acquiring advanced chips that could bolster its military capabilities. While the specific enforcement strategies of the Trump administration regarding these new rules remain unclear, he shares comparable views with Biden concerning the competitive threat posed by China. The new regulations are scheduled to take effect 120 days from their publication date, allowing the incoming administration ample time to deliberate on their implications
AI Chips Nvidia CEO Jensen Huang Lunar New Year Trump Inauguration Technology Export Restrictions
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