28.8 C
Nicosia
Tuesday, September 17, 2024
type here...
Business

Nvidia: Soared to the top so sharply it scared the authorities

0
33

Must read

How he got into everyone's sights

Nvidia: Εκτιναχθηκε τόσο απότομα στην κοφor πομξε αρς /></p> <p> Photo: AP </p> <p>Nvidia has soared to the top of the technology industry, providing the chips necessary to develop certain artificial intelligence systems. By the end of 2023 it held at least 90% of the global market for these chips.</p> <p>However, this huge success has attracted the attention of government authorities. Competent authorities in the EU, Britain and China have asked the company for information about its chip sales, supply sharing and investments in other companies, according to Nvidia's minutes.</p> <p>Last year, the US Justice Department launched an investigation into the company's sales practices and will examine one of its latest acquisitions, according to sources cited by The New York Times.</p> <p>Nvidia, however, was not prepared to receive so much attention from the authorities and is now scrambling to acquire the workforce and offices needed to respond to the inquiries. Just last year, Nvidia began looking for a Washington office and hired four people with expertise in public law. This year, it added its first competition lawyer, who will work with a legal team that has been handling questions about antitrust tactics for a decade. He also began to develop a strategy to respond to the state interest.</p> <p>Climb to the top<br />The stakes are huge. Over the past two years, Nvidia's quarterly earnings have risen ninefold to $14.88 billion. It became the third most valuable company in the world after Apple and Microsoft, with a capitalization of about 2.5 trillion. dollars.</p> <p>Nvidia dominates sales of the graphics cards that make it possible to build artificial intelligence systems in data centers. Customers even want more chips than the company can make. As a result, competition authorities are concerned about Nvidia's power to determine the distribution of a technology that is in short supply but also needed around the world.</p> <p>“Regulators want to see if Nvidia is influencing the market or if the product is so good it sells itself,” Daniel Newman, chief executive of technology research firm Futurum Group, told the NYT. “There is no evidence that they are engaging in monopolistic or anti-competitive practices, but the conditions are right because of their market dominance,” he pointed out.</p> <p>For many customers, Nvidia has earned its success. It has staked its future on using graphics cards to train the systems behind large AI language models, and is now expanding into supercomputers and cloud computing services.</p> <p>As for government investigations, Nvidia plans to addresses each question separately. It claims, however, that it operates fairly and based on competition rules. “Regulators need not worry. However, we are happy to provide all the information needed,” said a representative of the company.</p> <p>moneyreview.gr with information from NYT</p> <p><noindex></p> <div class=Source: www.kathimerini.com.cy

Previous article
Omonia: A “different” iterative
Next article
UN Secretary-General issues 'global SOS' over rising Pacific Ocean sea levels
- Advertisement -AliExpress WW

More articles

- Advertisement -AliExpress WW

Latest article

© 2024 Cyprus Digest. All rights reserved.

Popular in Cyprus

About Us

Popular Category

Editor Picks

MORE STORIES

Omonia: Ugly… but precious victory!