Decoding Nvidia CEO's Visit to Shanghai: Impact on Gaming, Graphics, and AI Processor Market

  • Nvidia Corp NVDA CEO Jensen Huang could visit Shanghai, the first visit in four years.
  • Despite escalating geopolitical tensions, Nvidia CEO Jensen Huang may visit Shanghai on June 6.
  • Huang may meet executives from Tencent Holding Ltd TCEHYTikTok owner ByteDance Ltd, smartphone giant Xiaomi Corp XIACY XIACF, and automobile makers BYD Co, Ltd BYDDF BYDDY and Li Auto Inc LI, SCMP reports.
  • The Taiwan-born American entrepreneur spent this week in Taiwan, having dinner with Morris Chang, founder of Taiwan Semiconductor Manufacturing Company Ltd TSM
  • Huang will likely meet the chairman of TSMC and Apple Inc AAPL supplier Hon Hai Precision Industry Co Ltd HNHPF Foxconn Technology Group on Friday.
  • Huang expressed immense confidence in China's ability to catch up in chip technology despite the U.S. embargo at the Computex expo in Taipei.
  • Huang had flagged immense damage to U.S. tech from its semiconductor chip embargo with China, one of the company's biggest and most important markets.
  • Huang said China made up roughly 33.33% of the U.S. tech industry's market and would be indispensable as both a source of components and an end market for its products.
  • China, including Hong Kong, accounted for more than 20% of Nvidia's sales in its latest financial year ending January 2023, while Taiwan represented more than 25%
  • He emphasized how Chinese companies built their chips to rival Nvidia's market-leading gaming, graphics, and artificial intelligence processors.
  • Nvidia had altered its flagship product into a legal version to export to China.
  • Price Action: NVDA shares traded higher by 1.33% at $402.99 premarket on the last check Friday.
  • Photo via Wikimedia Commons
Market News and Data brought to you by Benzinga APIs
Posted In: GovernmentNewsPenny StocksManagementTechMediaBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!