Key Facts on Nvidia’s Chip Smuggling Scheme
Nvidia has been targeted by a $2.5 billion chip-smuggling operation, primarily involving the illicit transport of its advanced GPUs into restricted markets like China. During a recent shareholder meeting, CEO Jensen Huang denounced the scheme as a “dead end,” highlighting the critical need for ongoing technical support for these chips to remain functional.
In the last quarter ending April 26, Nvidia reported $81.6 billion in revenue, an 85% year-over-year increase, alongside a net income of $58.3 billion, which is up 211% year-over-year. Despite the black-market challenges, Nvidia continues to maintain a dominant position in the AI hardware market and aims to adhere to U.S. regulations to avoid further restrictions.
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