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☆ China is asking its tech giants to ditch Nvidia chips and buy local instead: report
  + stars: | 2024-05-14 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com   time to read: +4 min
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewChinese officials are asking domestic tech giants to buy locally-made AI chips instead of Nvidia's, The Information reported on Monday. Chinese tech giants, The Information's sources said, are now expected to purchase equal numbers of locally and foreign-made AI chips for their new data centers. China is a very important market for the technology industry," Nvidia CEO Jensen Huang told the Financial Times in May 2023. Cupertino-based tech giant Apple, for instance, has been working to diversify its supply chains away from China.
Persons: —, Tencent, pare, hasn't, Colette Kress, Jensen Huang, Huang, walling, Jay Pelosky, BI's Yuheng Zhan, Tencent didn't Organizations: Service, Baidu, Business, China's National, Ministry of Industry, Information Technology, Nvidia, downer, Reuters, Financial Times, BI, Apple, Bloomberg, China's Ministry of Industry, Alibaba Locations: China, United States, Cupertino, India
☆ The US-China rivalry will reshape the landscape for Big Tech earnings
  + stars: | 2024-05-12 | by ( Yuheng Zhan | ) www.businessinsider.com   time to read: +5 min
The growth of US tech earnings is vulnerable to ongoing tensions with China. As Beijing exerts influence in the region, US tech firms will compete for a smaller market share. S&P Global data shows that for US chip firms, China is even more important for business than their home turf. AdvertisementGeopolitical tensionsAbishur Prakash, the founder of advisory firm The Geopolitical Business, told Business Insider that US tech companies ignoring the geopolitical tensions with China are risking serious setbacks to their portfolios. Experts believe that China will gradually contribute less to the revenue of mega-cap US tech firms.
Persons: —, Tesla, Apple, Prakash, Elon, Kelvin Wong, walling, Jay Pelosky, Pelosky, Wong Organizations: Service, TPW, American, Nvidia, AMD Locations: China, Beijing, India, Europe, South Korea, Taiwan, Japan, Southeast Asia, Vietnam, Malaysia, Indonesia
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