Is the White House Standing Between Nvidia and $50 Billion?
In CEO Jensen Huang’s eyes, China presents a gigantic opportunity made murky by the US government’s stance on chip exports.
He sees dollar signs in China.
Photographer: Jemal Countess/Getty Images
Financial filings are proving to be a useful truth serum in this age of unprecedented government intervention in the affairs of US companies.
After Intel Corp.’s warning earlier in the week that President Donald Trump’s smash-and-grab stake in the company could harm international revenue, Nvidia Corp. had a few bleak truths of its own on Wednesday when it reported quarterly results: The administration’s demand for a 15% cut of its chip sales to China might “subject us to litigation, increase our costs, and harm our competitive position and benefit competitors that are not subject to such arrangements,” the company said.