It's an open secret that vendors here are offering one of the world's most sought-after technologies: the microchips that create artificial intelligence, which the United States is battling to keep out of Chinese hands.
One vendor said he could order the chips for delivery in two weeks. Another said companies came to the market ordering 200 or 300 chips from him at a time. A third business owner said he recently shipped a big batch of servers with more than 2,000 of the most advanced chips made by Nvidia, the US tech company, from Hong Kong to mainland China. As evidence, he showed photos and a message with his supplier arranging the April delivery for $103 million.
The US, with some success, has tried to control the export of these chips. Still, The New York Times has found an active trade in restricted AI technology-part of a global effort to help China circumvent US restrictions amid the countries' growing military rivalry.
Bu hikaye Business Standard dergisinin August 06, 2024 sayısından alınmıştır.
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Bu hikaye Business Standard dergisinin August 06, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
FY25 as weak-earnings year is gradually getting priced in
Even as many blame record foreign portfolio outflows for the market downturn, the real culprit is weak earnings amid rich valuations, says GAUTAM CHHAOCHHARIA, head of global markets, India, UBS. In an interview with Samie Modak in Mumbai ahead of the UBS India Summit, Chhaochharia highlights that 2024-25 (FY25) weak earnings growth is now factoring into market expectations. Investors are shifting their focus to the actions of the Reserve Bank of India (RBI) and the central government, as well as the outcome of upcoming state elections. Edited excerpts:
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