- 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
Apollo Medical Holdings Q2 EPS $0.25 Beats $0.20 Estimate, Sales $533.00M Beat $243.76M Estimate
Apollo Medical Holdings (NASDAQ:AMEH) reported quarterly earnings of $0.25 per share which beat the analyst consensus estimate of $0.20 by 25 percent. This is a 10.71 percent decrease over earnings of $0.28 per share
