Warren invites Nvidia CEO Jensen Huang to Senate hearing on China AI chip sales
Democratic Senator Elizabeth Warren has invited Nvidia chief executive Jensen Huang to a Senate hearing on the company's sales of advanced AI chips to the Chinese market. The invitation, sent as US export controls tighten, prompted volatility in Nvidia shares during US trading.
CNBC Top NewsIn a letter to the Senate Banking Committee, Warren asked Huang to disclose details of sales to Chinese customers, including the H20 family of chips. 'We must ensure that the most advanced chips designed by Americans do not end up strengthening a rival military,' the senator wrote. A Nvidia spokesperson said the company was in 'full compliance' with US Commerce Department rules.
CFRA analyst Angelo Zino told CNBC that the invitation did not amount to a sanction, but that investors could begin pricing in additional licensing barriers. White House national security adviser Mike Waltz said Nvidia was 'engaging constructively' with the rule-making process. China's Commerce Ministry spokesperson He Yadong reiterated that US controls were disrupting global supply chains.
Nvidia shares fell as much as 1.8% at the open before recovering about half the loss. AMD and Broadcom also slipped on light volume. No date has been set for the Senate hearing. This is not investment advice.
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