8/9, 10:53 PM (Source: TeleTrader)
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Nvidia reportedly gets $5B chips order from Chinese tech firms

Chinese tech giants have placed orders with a cumulative worth of $5 billion for Nvidia Corporation's chips, which they plan to use for developing generative artificial intelligence systems, the Financial Times reported on Wednesday citing sources with knowledge on the matter.

According to the sources, Alibaba Group Holding Limited, Baidu, Inc., ByteDance Ltd. and Tencent Holdings Ltd. asked for around 100,000 of A800 processors from Nvidia, hoping to get them delivered this year.

Meanwhile, earlier, United States President Joe Biden declared a national emergency over the country's tech investments in China as the "advancement by countries of concern in sensitive technologies" represents an "extraordinary threat to the national security."

Baha Breaking News (BBN) / AY