Nvidia (NVDA, Financials) has addressed and dismissed floating allegations that it plans to reduce or stop exports of goods to China. Emphasizing on maintaining a strong presence and continued support from its consumers in the area, the company stressed that these claims are false and reiterated its commitment to the Chinese market.
This news comes in line with ongoing investigations by Chinese government officials, including an antitrust investigation into Nvidia’s purchase of Mellanox Technologies. Revising the $6.9 billion deal for potential competition concerns adds to the company’s regulatory woes in one of its most important global markets.
Despite legal hurdles, Nvidia is gaining prominence in China by hiring more staff, especially for research and development in autonomous driving technology; The chip giant now employs about 200 people in Beijing, bringing its total workforce in China to almost 4,000, according to Bloomberg.
With an eye on improving AI’s reasoning ability for more accurate and complicated problem solving, Nvidia’s CEO, Jensen Huang, has proposed the idea of ​​”long thinking” in AI research. This development is expected to drive major spending on artificial intelligence infrastructure and applications.
This article first appeared on GuruFocus.
