CNBC AI News, July 18th – U.S. chip giant Nvidia signals continued commitment to China amidst geopolitical tensions. Earlier today, China’s Ministry of Commerce announced that Minister Wang Wentao met with Nvidia CEO Jensen Huang on July 17th.
Minister Wang Wentao reaffirmed China’s dedication to attracting foreign investment, stating the country’s open door will only widen. Highlighting the vast scale of the Chinese market, its diverse range of applications, and vibrant innovation ecosystem, Wang expressed his hope that multinational corporations, including Nvidia, will provide high-quality and reliable products and services to their Chinese customers.
Jensen Huang responded, emphasizing the attractiveness of the Chinese market and Nvidia’s willingness to deepen cooperation with Chinese partners in the artificial intelligence sector.
Huang’s visit follows comments made during a trip to China in January, where he underlined the importance of the Chinese market to Nvidia’s global strategy.
He stated that Nvidia has a long and fruitful relationship with China, having operated extensively in the region for the past 25 years and employing thousands. Huang signaled Nvidia’s intention to further deepen its partnerships, citing the presence of excellent collaborators and numerous promising projects.
When questioned about the progress of Nvidia’s business in China, Huang offered a concise, yet reassuring, “Everything is going well.” The meeting underscores the complex balancing act Nvidia faces, navigating both U.S. export restrictions and the immense commercial opportunity presented by the Chinese AI market.
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