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☆ The 3 fascinating things we learned from Nvidia CEO Jensen Huang's earnings call
▼ + stars: | 2024-02-24 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +1 min

Nvidia's Q4 earnings smashed Wall Street's high expectations. In a call with analysts, CEO Jensen Huang unpacked Nvidia's chips and software business. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementWhen Nvidia reported its earnings on Wednesday, it managed to exceed even Wall Street's high expectations. But some of the more interesting details came during a conference call with analysts held by CEO Jensen Huang following the earnings.

Persons: Jensen Huang, —, chipmaker Organizations: Service, Nvidia, Business

☆ Jensen Huang, the CEO of Nvidia, is on the cusp of becoming one of the richest 20 people in the world
▼ + stars: | 2024-02-23 | by ( Huileng Tan | ) www.businessinsider.com time to read: +1 min

Nvidia's stock surge has boosted cofounder and CEO Jensen Huang's net worth. Huang, now worth nearly $70 billion, is close to entering the ranks of the world's top 20 billionaires. Nvidia's share price surge is thanks to a boom in artificial intelligence and impressive company earnings. Since the start of 2022, Nvidia's stock price has increased five times, sending the fortune of cofounder and CEO Jensen Huang skyrocketing. Now worth nearly $70 billion, the 61-year-old Huang — who owns 3.5% of Nvidia — is on the cusp of breaking into the ranks of the world's top 20 billionaires on the Bloomberg Billionaires Index.

Persons: Jensen, Huang, —, Jensen Huang skyrocketing, Huang — Organizations: Service, Nvidia, Bloomberg, Business Locations: Santa Clara

☆ Wall Street is loving AI while Big Tech is warning employees about how they use it
▼ + stars: | 2024-02-23 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at Wall Street's love affair with Nvidia (and AI) while Big Tech still grapples with how to use the tools . Since Nvidia's GPUs sit at the center of the AI revolution, the company's success suggests the hype around the tech is warranted. One issue is bias showing up in AI tools . AdvertisementInternal documents show that Amazon is warning its employees not to use third-party generative AI tools for work , BI's Ashley Stewart and Eugene Kim report. It's an interesting acknowledgement of the risks involved with using AI tools — especially when Amazon is pitching its own chatbot to customers .

Persons: —, It's, Michael M, Tyler Le, it's, Matthew Fox, Wall, Jensen, Kathleen Brooks, XTB, BI's George Glover, Chelsea Jia Feng, — ChatGPT, Monica Melton, BI's Ashley Stewart, Eugene Kim, Paul Morigi, Jenny Chang, Rodriguez, Goldman, Joe Duran, Jensen Huang, Huang, Reddit, Sam Altman, Elon Musk, Gemini, isn't, RJ Scaringe, Rivian, Scaringe, Steve Conine, Niraj Shah, Lucas Jackson, Wayfair, Bruce Dixon, they'd, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Grace Lett Organizations: Service, Nvidia, Big Tech, Getty, Nasdaq, Nikkei, GameStop, SEC, CNBC, EV, Warner Bros Discovery Inc, Hyatt Hotels Locations: Paul, New York, London, Chicago

☆ These are the best-performing stocks since the market low back in October. Where analysts see them going
▼ + stars: | 2024-02-01 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Stocks as a whole have rallied off the October low — but some have seen more outsized gains than others. The S & P 500 recently climbed nearly 20% to fresh all-time highs from its low point on Oct. 27, 2023. AMD took a leg down on Wednesday after the company offered lighter guidance for current-quarter revenue than analysts had estimated. More than three out of every four analysts on Wall Street surveyed by FactSet have a buy rating onJensen Huang's Nvidia. BBWI 1Y mountain Bath & Body Works over the last year Analysts anticipate a rangebound period ahead for the stock.

Persons: they've, Goldman Sachs, Hari, Cantor Fitzgerald, C.J, Muse Organizations: CNBC Pro, Wall, Nvidia, Devices, AMD, FactSet, Body

☆ We could have a new member of the $2 trillion market cap club this week
▼ + stars: | 2024-01-30 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

On Monday, Alphabet closed at a market capitalization of $1.91 trillion, less than $100 billion away from a $2 trillion market cap and trailing Microsoft and Apple with market capitalizations last at $3.03 trillion and $2.91 trillion, respectively. Beyond Alphabet Alphabet is close to entering the $2 trillion club, but other prominent mega-cap tech companies are making progress, too. Amazon's market cap finished Monday at $1.64 trillion. The managing partner also sees Meta Platforms as a future $2 trillion market cap candidate. The maker of sophisticated graphics processing units reached a $1 trillion market cap for the first time only in 2023, when it climbed almost 240%.

Persons: Paul Meeks, Meeks, Merrill Lynch, bode, Gene Munster, Dan Ives, Ives, they're, Deepwater's Munster, Wedbush's Ives, Jensen Organizations: Microsoft, Apple, Merrill, Merrill Lynch Investment, Deepwater Asset Management, Amazon Web Services, Munster, Nvidia Locations: U.S

Their huge and growing earnings, combined with a large number of shares outstanding, mean that the three companies exert a bigger influence on the S & P 500 earnings picture than any other. Fourth quarter earnings for the entire S & P 500 are expected to rise about 5% over the same period in 2022. For share-weighted earnings, the earnings (or earnings estimates) for each company are multiplied by the shares outstanding. What this means is that companies that are experiencing a rapid increase in their earnings can begin to exert an outsized influence on S & P 500 earnings. In a world where the S & P 500 is expected to see earnings growth of 10% this year, Nvidia's earnings growth is off the charts.

Persons: Technolgy, Nvidia —, John Butters, Jensen, Howard Silverblatt Organizations: Microsoft, Apple, Nvidia, Meta, P Global Locations: FactSet

☆ A couple says they were caught naked by a cleaner who walked into their hotel room. They're demanding 10 times the cost of their stay as an apology.
▼ + stars: | 2024-01-25 | by ( Matthew Loh | ) www.businessinsider.com time to read: +2 min

Read previewA couple who stayed at a hotel in Guangdong, China, is demanding a refund worth 10 times the cost of their room after a cleaner walked in on them while they were naked. Huang and his girlfriend were staying at the Ranz Hotel in the city of Shenzhen on Saturday and had arranged for a late checkout at 6 p.m., per the outlet. Related storiesA front desk staff member at the Ranz Hotel confirmed the incident to Hunan-based daily Xiaoxiang Morning News. The hotel told the outlet it could offer an apology, but not the money. The Ranz Hotel did not immediately respond to a request for comment sent by BI.

Persons: —, Huang, Xie Organizations: Service, Business, TV, Guangdong Radio, Ranz Hotel, Morning, BI Locations: Guangdong, China, Shenzhen, Hunan, Weibo

NEW YORK (AP) — Lorrie Moore, Naomi Klein and the Egyptian writer Ahmed Naji are among the finalists for National Book Critics Circle awards. Honorary prizes are going to Judy Blume and to a longtime ally of Blume's in the fight against book bans, the American Library Association. On Thursday, the critics circle announced nominees in seven competitive categories, ranging from fiction to debut book to best translation. The other fiction nominees are Justin Torres' “Blackouts,” winner of the National Book Award last fall; Teju Cole's “Tremor,” Daniel Mason's “North Woods”; and Marie NDiaye's “Vengeance Is Mine,” translated from the French by Jordan Stump. The book critics circle, founded in 1974, consists of hundreds of reviewers and editors from around the country.

Persons: — Lorrie Moore, Naomi Klein, Ahmed Naji, Judy Blume, Blume's, Moore, “, Justin Torres, ” Daniel Mason's “, Marie NDiaye's, Jordan Stump, Grace E, Tina Post's, ” Nicholas Dames, ”, Myriam Gurba's, Naji, Katharine Halls, Matthew Zapruder's “, ” Susan Kiyo Ito's, David Mas, Patricia Wakida, Jonathan Coe's Martin Luther King, Gregg Hecimovich, Hannah Crafts, Anna, Rachel Shteir's, Betty Friedan, Jonny Steinberg's, Winnie, Nelson, Saskia Hamilton's “, ” Kim Hyesoon's, ” Romeo Oriogun's, Robyn Schiff's, Kareem Abdulrahman, Natascha Bruce, Dorothy Tse's ”, Don Mee, Kim Hyesoon's, ” Todd, ” Maureen Freely’s, Tiffany, Indonesian Norman Erikson Pasaribu's, John Leonard, Ariana Benson's, ” Emilie Boone's, ” Victor Heringer's “, ” Tahir Hamut Izgil's, Donovan X, Martin J, Siegel's, Blume, Becca Rothfield, Marion Winik Organizations: American Library Association, Rotten, PEN America, U.S, Washington Locations: Egypt, Indonesian

☆ Nvidia's Jensen Huang sheds his biker chic look to dance in a red floral vest during a visit to China
▼ + stars: | 2024-01-24 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Read previewAs the cofounder and CEO of Nvidia, Jensen Huang is known for building the company into the world's leading AI chipmaker. AdvertisementNvidia CEO Jensen Huang visited the company's offices in Shanghai, Beijing, and Shenzhen last week, taking part in year-end festivities. He engaged in the traditional twist Yangge, a popular rural folk dance in northeast China, wearing a traditional flower-patterned vest. Huang's trip to China came amid intensifying rivalry between Washington and Beijing over a range of issues, including tech and geopolitics. The restrictions thrust Nvidia into a difficult position since China has typically accounted for about one-fifth of the company's revenue.

Persons: —, Jensen Huang, He's, Huang, SCMP, Nvidia’s, …, Biden Organizations: Service, Nvidia, Business, Business Insider, Bloomberg, China Morning Locations: China, Shanghai, Beijing, Shenzhen, Washington

☆ In an internal meeting, Nvidia's CEO addressed a question about employees in 'semi-retirement' mode as unusual tension grows
▼ + stars: | 2023-12-14 | by ( Eugene Kim | ) www.businessinsider.com time to read: +10 min

Many Nvidia employees have become incredibly rich after the company's stock is up by about 1,200% over the past five years. Nvidia employees are also rarely put on performance-improvement plans, unlike some of its competitors, such as Amazon . Despite a growing number of companies launching their own in-house chips, Nvidia employees say they don't feel the competitive pressure yet. Three Nvidia employees, however, told BI that those chips never came up in customer conversations because, in their view, of Nvidia's superior performance. In other ways, Nvidia employees haven't let their riches go to their heads.

Persons: —, It's, Jensen Huang, Huang, he's, Jim Herd, Herd Freed Hartz, Herd, we're, Glassdoor, He's Organizations: Service, Nvidia, Business, AMD, Intel, Big Tech, Microsoft, Amazon, Employees, BI, Lamborghini, Meta Locations: Silicon

☆ Nvidia CEO says he will try to prioritise Japan for AI processors
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +1 min

Japan is rushing to rebuild its once world-leading semiconductor infrastructure and catch up on the development of AI technology. The graphics processing units (GPUs) made by U.S.-based Nvidia dominate the market for AI. "Demand is very high, but I promised the prime minister we will do our very, very best to prioritise Japan's requirements for GPUs," Huang told reporters at Prime Minister Fumio Kishida's official residence in Tokyo. "The semiconductor industry that Japan is now starting to grow and foster will be able to produce GPUs," Huang said. "Countries like Japan are realising that you need to own your own data, build your own AI factories and produce your own AI intelligence," he added.

Persons: Ann Wang, Jensen Huang, Huang, Fumio, Huang's, TSMC, Yoshifumi Takemoto, Rocky Swift, Chang, Ran Kim, Jamie Freed Organizations: REUTERS, Rights, Nvidia, Thomson Locations: Taipei, Taiwan, Japan, U.S, Tokyo, Hokkaido

☆ Nvidia CEO: Every aspect of the computer has fundamentally changed
▼ + stars: | 2023-11-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNvidia CEO: Every aspect of the computer has fundamentally changedCNBC's Deirdre Bosa reports on Jensen Huang's recent comments from the NYT DealBook Summit.

Persons: Deirdre Bosa, Jensen Organizations: Nvidia, NYT

☆ Nvidia cofounder lives off the grid, owns a private jet named Snoopy, and gives out single-use email addresses to avoid spam
▼ + stars: | 2023-11-29 | by ( Aaron Mok | ) www.businessinsider.com time to read: +3 min

Curtis Priem, cofounder of Nvidia, gave the majority of his stock to his college alma mater, Forbes reported. The chip giant's first CTO spent part of his wealth on an off-the-grid home and a private jet. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . By 2006, Priem sold the rest of his shares, leaving him with a fortune worth around $30 million, Forbes estimated. "I did a little crazy thing, and I wish I'd kept a little bit more [Nvidia shares]," Priem told Forbes.

Persons: Curtis Priem, Forbes, —, could've, Priem, Flexjet, I'd, Nvidia Jensen, Huang, Nvidia didn't Organizations: Nvidia, mater, Service, Foundation, Conservancy, Forbes, Rensselaer Polytechnic Institute, IBM, Computer, Gulfstream G450, RPI, Microsoft Locations: America, mater, Fremont , California

☆ Nvidia CEO Jensen Huang has 50 direct reports. Here's why.
▼ + stars: | 2023-11-29 | by ( Aaron Mok | ) www.businessinsider.com time to read: +3 min

Nvidia CEO Jensen Huang explained why he has 50 direct reports at the 2023 NYT DealBook Summit. "The more direct reports the CEO has, the less layers are in the company," Huang said. AdvertisementNvidia CEO and cofounder Jensen Huang said he has 50 direct reports — and for a good reason. "The more direct reports the CEO has, the less layers are in the company," Huang said. After all, Huang doesn't feel the need to do too much hand-holding with his direct reports — he said he expects them to know what they're doing.

Persons: Jensen Huang, Huang, —, Andrew Sorkin, Sorkin, that's, what's, Huang doesn't, Nvidia didn't Organizations: Nvidia, Service, New York Times, Bloomberg, Yorker, New Locations: New Yorker

☆ Nvidia CEO says he wakes up every morning worried his company might fail
▼ + stars: | 2023-11-29 | by ( Aaron Mok | ) www.businessinsider.com time to read: +3 min

Nvidia CEO Jensen Huang said he wakes up worried his company might fail. Huang said the feeling he got from Nvidia nearly going out of business years ago has stuck with him. The fear of his chip empire tanking, Huang admitted, is a feeling he grapples with every morning when he wakes up. "I think during adversity you're more focused," Huang said. "I like going home and telling my wife I saved the company today," Huang said during the DealBook summit.

Persons: Jensen Huang, Huang, —, Andrew Sorkin, Sorkin Organizations: Nvidia, Service, New York Times DealBook, Yorker Locations: Nvidia's, Taiwan

☆ Nvidia CEO reportedly writes hundreds of emails a day to his staff that executives compare to haiku and ransom notes
▼ + stars: | 2023-11-29 | by ( Aaron Mok | ) www.businessinsider.com time to read: +3 min

Nvidia CEO Jensen Huang writes hundreds of emails a day to staff, per The New Yorker. Execs at the chip giant compare Huang's curt emails to haiku and ransom notes. AdvertisementGetting to inbox zero may be a tough feat if you work at Nvidia — especially if important work emails from CEO Jensen Huang read like poetry or even a ransom note. Huang reportedly talks to his staff by sending hundreds of emails to them every day, according to The New Yorker. In fact, one executive said Huang's emails resemble the Japanese poetry style haiku; another executive compared them to ransom notes.

Persons: Jensen Huang, Execs, curt, —, Huang, it's Organizations: Nvidia, Service, Yorker, Business, New Yorker, Bloomberg Locations: New

☆ Nvidia earnings will give Wall Street a peek into AI demand heading into 2024
▼ + stars: | 2023-11-20 | by ( Ari Levy | ) www.cnbc.com time to read: +5 min

Jensen Huang, president of Nvidia, holding the Grace hopper superchip CPU used for generative AI at the Supermicro keynote presentation during Computex 2023. When Nvidia reports fiscal third-quarter results Tuesday, analysts are expecting to see revenue growth of over 170%. Heading into the Thanksgiving holiday, Wall Street will be closely scrutinizing the company that's been at the heart of this year's artificial intelligence boom. In particular, the emergence of AMD in the generative AI market presents a new dynamic for Nvidia, which has mostly had the AI graphics processing unit (GPU) market to itself. "NVDA needs to forcefully counter the narrative its products are too expensive for generative AI inference," the Bank of America analysts wrote.

Persons: Jensen Huang, that's, Lisa Su, Raymond James, OpenAI's, Sam Altman, OpenAI, Emmett Shear, Satya Nadella, Altman, Greg Brockman, Jensen, Eric Jackson Organizations: Nvidia, " Bank of America, AMD, Bank of America, FactSet, LSEG, Microsoft, Cailian Press Locations: China, OpenAI

☆ Nvidia's stock-price surge means CEO Jensen Huang is richer than Nike founder Phil Knight and hedge-fund legend Ken Griffin
▼ + stars: | 2023-11-20 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Founder and CEO Jensen Huang's wealth has soared nearly $30 billion as a result. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . That means his fortune now exceeds those of Nike founder Phil Knight, Citadel CEO Ken Griffin, and Blackstone supremo Stephen Schwarzman. He'll turn 60 this year, making him years older than fellow tech billionaires Bill Gates and Jeff Bezos when they left day-to-day operations at 52 and 57, respectively.

Persons: Jensen, Huang, —, Nvidia –, that's, Jensen Huang, –, Mark Zuckerberg, Elon Musk, he's, Phil Knight, Ken Griffin, Blackstone supremo Stephen Schwarzman, Chris Malachowsky, Curtis Priem, East San Jose Denny's, Bill Gates, Jeff Bezos Organizations: Bloomberg, Service, Nvidia, Big Tech, Nike, Citadel, Blackstone supremo, East San Locations: Taiwan, Thailand, Oregon, East, East San Jose

☆ The bosses of rival chip giants Nvidia and AMD are cousins, researcher says
▼ + stars: | 2023-11-06 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Nvidia CEO Jensen Huang and AMD CEO Lisa Su are first cousins once removed. It has recently emerged that Nvidia CEO Jensen Huang and AMD CEO Lisa Su are first cousins once removed, with 60-year-old Huang being the older cousin. Nvidia and AMD did not immediately respond to requests for comment from Insider sent outside regular business hours. The genealogist — a person who traces lines of family descent — published a condensed family tree on her Facebook account in June. Wu also interviewed a close family member of the two while putting together the family tree, per CNN.

Persons: Jensen Huang, Lisa Su, Su's, —, Huang, Su, Huang's, Jean Wu, It's, Wu, Jensen Organizations: Nvidia, Service, AMD, CNN, Consumer Technology Association webinar, Oneida Baptist Institute, Oregon State University, Massachusetts Institute of Technology, Devices, IBM, Freescale Semiconductor Locations: Taiwan, Taiwanese, Taipei, Thailand, Washington, Kentucky, Tainan, New York

☆ Jensen Huang, who got an Nvidia tattoo when its share price hit $100, says he's not getting inked again
▼ + stars: | 2023-10-31 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

Nvidia co-founder and CEO Jensen Huang had a wide-ranging interview with host Ryan Patel for HP's online show "The Moment." The CEO spoke about his sartorial choices, including his signature black leather jacket and Nvidia tattoo. However, he told the host he's unlikely to get inked again. AdvertisementAdvertisementNvidia CEO Jensen Huang got a tattoo of the company logo when its stock price hit $100 apiece — but he's probably not looking to get inked again. When asked how he felt about his status as a fashion icon thanks to his jacket, Huang had a modest response: "Don't give me that.

Persons: Jensen Huang, Ryan Patel, —, he's, you've, What's, Huang, Fortune Organizations: Nvidia, Service, YouTube

☆ Nvidia CEO Jensen Huang, known for his leather jacket, has his wife and daughter to thank for his signature style
▼ + stars: | 2023-10-30 | by ( Aaron Mok | ) www.businessinsider.com time to read: +3 min

Nvidia CEO Jensen Huang credited his style to his wife and daughter in a recent interview. The interest in his signature style comes as the chip maker attempts to cash in on the AI hype. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementJensen Huang, the CEO of Nvidia, is rarely seen in public without his shiny black leather jacket — but he doesn't take credit for his signature style. AdvertisementAdvertisementThe CEO of the chip giant is married to Lori Huang, who he met when he was 16 in an electrical engineering class.

Persons: Jensen Huang, —, Ryan Patel, Patel, Huang, Lori Huang, Huang isn't, Nvidia didn't Organizations: Nvidia, Service, Wilson Jackets, Bloomberg, Google, Microsoft

☆ Nvidia's CEO gave a super honest account of what it's like to start your own business. It should be required reading for anyone considering it.
▼ + stars: | 2023-10-20 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +3 min

Starting a company is difficult, and Jensen Huang says he wouldn't do it again if he had to go back. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementJensen Huang built Nvidia into a trillion-dollar company, but if he had to do it over, he wouldn't start a company again. Huang went on to say it's actually helpful for entrepreneurs to underestimate how challenging it can be to start a business.

Persons: Jensen Huang, —, Huang, Forbes Organizations: Nvidia, Service, Huang, Microsoft, Apple, Forbes

☆ Nvidia cancels AI Summit in Tel Aviv following Hamas attack on Israel
▼ + stars: | 2023-10-09 | by ( Hayden Field | ) www.cnbc.com time to read: +2 min

Nvidia canceled its AI conference in Tel Aviv next week due to safety concerns, as Israel ordered a siege of Gaza following the Hamas attack on Israel over the weekend. Nvidia had scheduled its in-person AI summit, with a keynote by CEO Jensen Huang, for Oct. 15 and 16 in Tel Aviv, billing the event as "the #1 conference for developers, business leaders, and AI researchers." Nvidia, the world's largest AI chipmaker, can't keep up with industrywide demand for its chips. Most of the summit's planned speakers are key figures at Nvidia, such as Kimberly Powell, vice president of health care; Deepu Talla, vice president of embedded and edge computing; and Gilad Shainer, senior vice president of networking and high-performance computing. "We regret to inform you that due to the current situation in Israel, we have decided to cancel AI SUMMIT," Nvidia announced on the event's website.

Persons: Jensen Huang, Kimberly Powell, Deepu Talla, Gilad Shainer Organizations: Nvidia, Revenue, CNBC, supercomputing, Microsoft, Amazon Web Services, Lenovo Locations: Tel Aviv, Israel, Gaza

☆ This could be the next major bullish catalyst for AI darling Nvidia
▼ + stars: | 2023-10-08 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

A new chip from Nvidia could prove the next major catalyst for the artificial intelligence darling in 2024, according to Wall Street analysts. Even so, Wall Street remains bullish on the chipmaker, with about 85% of analysts holding a buy rating on the stock, and the average price target implying 43% upside from Friday's close. While the launch of the next-generation chip known as Blackwell isn't expected until 2024, Wall Street analysts are already bracing for the debut to drive significant growth at Nvidia, which already dominates the AI market. The chip is also slated to carry a higher average selling price and better performance than Nvidia's current H100 model. Piper Sandler's Harsh Kumar called the product the "next-gen compute GPU product" for AI and high performance computing.

Persons: Jensen, Blackwell isn't, Atif Malik, Piper Sandler's Harsh Kumar, John Vinh, Vinh, — CNBC's Michael Bloom Organizations: Nvidia, Wall Street, Citi, Taiwan Semiconductor, KeyBanc Locations: CoWoS, 2H24, 4Q24

☆ Taiwan Investigating Accusation Submarine Program Details Leaked
▼ + stars: | 2023-10-02 | by ( Oct. | At A.M. | ) www.usnews.com time to read: +1 min

TAIPEI (Reuters) - Taiwan prosecutors said on Monday they are investigating accusations that people tried to interfere in the island's submarine program and that details about it were leaked, in what would be a serious breach of security. Taiwan unveiled its first domestically developed submarine on Thursday, a major step in a project aimed at strengthening the island's defence and deterrence against the Chinese navy, though it won't enter service for two years. Taiwan's Supreme Prosecutors Office, in a short statement, said Huang's accusations had attracted "great attention" given the national security and defence implications. Taiwan, which China views as its own territory, has made the indigenous submarine program a key part of an ambitious project to modernise its armed forces as Beijing stages almost daily military exercises to assert its sovereignty claims. The submarine program has drawn on expertise and technology from several countries - a breakthrough for diplomatically isolated Taiwan.

Persons: Huang Shu, kuang, Ben Blanchard, Gerry Doyle Organizations: Taiwan's, Prosecutors Office Locations: TAIPEI, Taiwan, China, Beijing

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