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Stockreport

Two arrested for smuggling AI chips to China; Nvidia says no to kill switches [TechCrunch]

NVIDIA Corporation (NVDA)  More Company Research Source: TechCrunch
Last nvidia corporation earnings: 2/13 04:20 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.nvidia.com/home/default.aspx
The DOJ said Chuan Geng and Shiwei Yang were arrested in California on August 2 and charged with violating the Export Control Reform Act, a felony that carries a statutory penalty of a maximum of 20 years in prison. Geng and Yang are accused of knowing and willfully shipping “sensitive technologies,” including GPUs, to China from the U.S. through their California-based company, ALX Solutions. The DoJ did not name the company whose chips ALX Solutions was allegedly smuggling, but quoting a complaint, it said the chip is “the most powerful chip in the market” and is “designed specifically for AI applications.” That description makes it likely that the chips being smuggled were made by Nvidia. A report by Reuters specifically named Nvidia's H100 GPUs as the chips being shipped. A review of export documents by the DOJ found that ALX Solutions sent chips and other tech to shipping and freight-forwarding companies in Singapore and Malaysia, but received payments from entities in Hong [Read more]
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Stockreport

Two arrested for smuggling AI chips to China; Nvidia says no to kill switches [TechCrunch]

NVIDIA Corporation  (NVDA) 
More Company Research Source: TechCrunch
Last nvidia corporation earnings: 2/13 04:20 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.nvidia.com/home/default.aspx
The DOJ said Chuan Geng and Shiwei Yang were arrested in California on August 2 and charged with violating the Export Control Reform Act, a felony that carries a statutory penalty of a maximum of 20 years in prison. Geng and Yang are accused of knowing and willfully shipping “sensitive technologies,” including GPUs, to China from the U.S. through their California-based company, ALX Solutions. The DoJ did not name the company whose chips ALX Solutions was allegedly smuggling, but quoting a complaint, it said the chip is “the most powerful chip in the market” and is “designed specifically for AI applications.” That description makes it likely that the chips being smuggled were made by Nvidia. A report by Reuters specifically named Nvidia's H100 GPUs as the chips being shipped. A review of export documents by the DOJ found that ALX Solutions sent chips and other tech to shipping and freight-forwarding companies in Singapore and Malaysia, but received payments from entities in Hong [Read more]
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EVENT TIME:
NVDA
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Price Change %
Volume Shares
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%
Don't Miss Out On The Next BIG Stock Move
Performance comparison Updated
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
LAST PRICE AT
NEWS EVENT
SINCE EVENT
Multi-day stock performance from the time of the news release
LAST PRICE
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Low:
MAX DOWN
Low:
%
 POST NEWS RANGE
%
PRICE CHANGE
PRICE CHANGE PERCENTAGE
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%
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TICKS
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EVENT DAY
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PERFORMANCE SINCE EVENT
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