💸 The $300 Million Hair Dryer Heist
U.S. export controls made NVIDIA’s AI chips so valuable in China that an entire smuggling industry sprang up around them. Officials now say NVIDIA had a chance to notice—and didn’t.
Federal prosecutors arrested Greg Lui for moving servers containing $300 million worth of restricted chips to China. Bloomberg reports that this is part of a $2.5 billion scheme: Super Micro co-founder “Wally” Liaw allegedly sold servers to a shell company in Bangkok, supposedly for Thailand. They went straight to China, with their serial numbers stripped off using a red hair dryer.
NVIDIA disputes any wrongdoing. CEO Jensen Huang declined Congress’s invitation to testify; Senator Warren’s response was brief: “If he has time for a $1 million-per-person dinner at Mar-a-Lago, he can find time for us.”
The hair dryer is still plugged in.
#Nvidia's #NVIDIA #china #EEUU #EstadosUnidos $NVDA $NVDAB $NVDAon
U.S. export controls made NVIDIA’s AI chips so valuable in China that an entire smuggling industry sprang up around them. Officials now say NVIDIA had a chance to notice—and didn’t.
Federal prosecutors arrested Greg Lui for moving servers containing $300 million worth of restricted chips to China. Bloomberg reports that this is part of a $2.5 billion scheme: Super Micro co-founder “Wally” Liaw allegedly sold servers to a shell company in Bangkok, supposedly for Thailand. They went straight to China, with their serial numbers stripped off using a red hair dryer.
NVIDIA disputes any wrongdoing. CEO Jensen Huang declined Congress’s invitation to testify; Senator Warren’s response was brief: “If he has time for a $1 million-per-person dinner at Mar-a-Lago, he can find time for us.”
The hair dryer is still plugged in.
#Nvidia's #NVIDIA #china #EEUU #EstadosUnidos $NVDA $NVDAB $NVDAon
