- Nvidia Corp (NASDAQ:NVDA) CEO Jensen Huang felt “perfectly safe” about its dependence on chip powerhouse Taiwan for manufacturing.
- Huang responded to reporters at a technology event in Taipei when probed on the political repercussions of its reliance on the country, Reuters reports.
- He confirmed diversification via multiple fabs at Taiwan Semiconductor Manufacturing Company Ltd (NYSE:TSM) and disclosed plans to source from the TSMC fab in Arizona.
- Also Read: Apple Supplier Foxconn Rides the AI Wave, Doubles Down on Server Business Amid ChatGPT Frenzy
- Huang said TSMC would make his company’s next generation of products while adding Nvidia would continue diversifying.
- Various companies have voiced concerns about likely risks to the business from military threats by China against the democratic island of Taiwan, which Beijing claims as its own.
- Huang shared plans to meet executives from TSMC and Apple Inc (NASDAQ:AAPL) supplier Hon Hai Precision Industry Co Ltd (OTC: HNHPF) Foxconn that use AI chips on Friday.
- He is yet to decide on his China visit after his Taiwan trip.
- Huang also lauded TSMC’s strategy of diversifying in different geographies.
- Nvidia joined the club of U.S. companies with a $1 trillion market value on Tuesday, buoyed by the AI boom.
- The stock, which has gained 164.3% YTD, lost close to 6% Wednesday on profit-taking.
- Price Action: NVDA shares traded higher by 1.75% at $385.06 on the last check Thursday.
- Photo via Wikimedia Commons
Atara Biotherapeutics To Receive Additional Near-Term Milestone Payment Under Updated Tabelecleucel Commercialization Agreement With Pierre Fabre; Atara To Receive Additional $30M Upon European Commission Approval And Filing Of Tab-Cel
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Responses Submitted to European Medicines
