China Mine

Apr 11, 2021

In this photo released by Xinhua News Agency, rescue workers stand near a banner which reads: "Home is waiting for your region" at the entrance to a flooded coal mine in Hutubi county in of Hui Autonomous Prefecture of Changji, northwest China's Xinjiang Uyghur Autonomous Region on Sunday, April 11, 2021. Some miners were reported trapped after the coal mine flooded on Saturday. (Gao Han/Xinhua via AP)

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Loyalty vs accountability: a look at the Nvidia board deciding CEO Jensen Huang’s fate

Loyalty vs accountability: a look at the Nvidia board deciding CEO Jensen Huang’s fate

Nvidia’s board of directors is facing perhaps its biggest test yet as it weighs whether to oust chief executive Jensen Huang, the man credited with transforming the chipmaker into one of the world’s most valuable companies. The board was reportedly preparing to remove Huang after reports that he had an extramarital relationship with Kimberly Powell, Nvidia’s vice-president of healthcare, who reported to him, according to The New York Times and Wall Street Journal on Wednesday. The latest...

‘Web of complexity’: Jensen Huang’s position in doubt as Nvidia shares plunge overnight

‘Web of complexity’: Jensen Huang’s position in doubt as Nvidia shares plunge overnight

Nvidia shares fell more than 8 per cent at one point in US after-hours trading on Wednesday as CEO Jensen Huang’s prospects of hanging onto his role became more clouded after media reports of a board meeting and another extramarital affair. The drop in the American AI chip giant’s share price erased a 2.9 per cent rebound in the regular trading session, after the stock lost over 9.5 per cent in trading on Monday and Tuesday. It came as speculation mounted over whether Huang would keep his job....

Amid Nvidia saga, T-Head IPO a crucial test for Alibaba – and China’s AI ambitions

Amid Nvidia saga, T-Head IPO a crucial test for Alibaba – and China’s AI ambitions

Alibaba Group Holding’s planned Hong Kong listing of its semiconductor design arm, T-Head, is poised to reshape China’s artificial intelligence hardware arena while unlocking billions of dollars in trapped valuation for the tech titan, according to analysts. The proposed spin-off serves as a test of whether the sum of Alibaba’s parts is worth significantly more than its current market valuation. Alibaba’s Hong Kong-listed shares slipped about 1 per cent to HK$100.60 on Wednesday, the day...

Alibaba readies T-Head chip IPO as Hong Kong frenzy cools

Alibaba readies T-Head chip IPO as Hong Kong frenzy cools

Alibaba has applied to list chip-design unit T-Head in Hong Kong, as the Chinese tech giant braves a cooling initial public offering (IPO) market to raise funds for artificial intelligence (AI) ambitions. The Hong Kong stock exchange has approved the proposed separation and a confidential listing application was filed in September, Alibaba said in a statement on Tuesday. T-Head, which provides full-stack data centre chips, will remain a unit of the company. Alibaba also owns the South China...

Nvidia CEO Jensen Huang’s affair: everything you need to know

Nvidia CEO Jensen Huang’s affair: everything you need to know

We have put together stories from our coverage of Jensen Huang’s affair and its potential repercussions. If you would like to see more of our reporting, please consider subscribing. 1. Could Jensen Huang’s affair become another ‘spy balloon’ saga for US-China ties? China hawks in Washington could weaponise allegations that Nvidia CEO Jensen Huang was targeted by Chinese intelligence, despite denials from Beijing, Chinese experts warn. 2. ‘Adding fuel to fire’: how Nvidia CEO’s troubles could...

What Taiwanese chip giant TSMC gains from taking stakes in OpenAI and Anthropic’s AI race

What Taiwanese chip giant TSMC gains from taking stakes in OpenAI and Anthropic’s AI race

Taiwan Semiconductor Manufacturing Company’s (TSMC) move to take equity stakes in both OpenAI and Anthropic will give the world’s largest contract chipmaker direct financial ties to the frontier AI labs driving demand for its business. Its board on Tuesday authorised up to US$500 million to buy Anthropic common shares at its initial public offering (IPO) price, and up to US$500 million to buy preferred shares in OpenAI. Directors separately approved up to US$500 million to establish a dedicated...

How Nvidia CEO’s troubles, US midterms may tighten China chip curbs: ‘adding fuel to fire’

How Nvidia CEO’s troubles, US midterms may tighten China chip curbs: ‘adding fuel to fire’

A political storm sparked by US media reports alleging American intelligence agencies suspect Nvidia CEO Jensen Huang was targeted in an espionage operation – a claim Beijing has denied – threatens to intensify Washington’s tech blockade on China following a Democratic midterm victory. Analysts said the twin developments could give the US Congress the political momentum needed to plug loopholes in existing semiconductor restrictions, accelerating efforts to curb third-country chip smuggling and...

Who is Alice Huang and why is her relationship with Nvidia’s CEO under scrutiny?

Who is Alice Huang and why is her relationship with Nvidia’s CEO under scrutiny?

Nvidia founder and CEO Jensen Huang has admitted to having an extramarital affair as the chipmaker investigates reported allegations that a Chinese businesswoman close to him may have been working for Beijing’s intelligence services. Beijing has rejected the espionage claims as “baseless”, while Nvidia has said it had no reason to believe company secrets or US national security were compromised. The controversy wiped about US$190 billion off the chipmaker’s market value in a single day. US...

Chinese traders still confident of Nvidia GPU access amid Jensen Huang scandal

Chinese traders still confident of Nvidia GPU access amid Jensen Huang scandal

Prices for Nvidia graphics processing units (GPUs) are falling in China’s largest electronics market, as traders shrug off the frenzy of market speculation over tightening export controls in the wake of the US midterm elections and the Jensen Huang affair. The US chip giant’s top-of-the-range GeForce RTX 5090 graphics card surged in price last month at Shenzhen’s Huaqiangbei market, but that was mostly driven by rumours that Nvidia was going to halt production to focus on high-end enterprise...

Nvidia faces defining test as Jensen Huang probe adds to chip stock turbulence

Nvidia faces defining test as Jensen Huang probe adds to chip stock turbulence

Nvidia is facing an unprecedented valuation test as a board inquiry into CEO Jensen Huang exposes the US chipmaker to a rare key-person risk, while investors also weigh the midterm elections’ potential impact on Washington’s chip controls and AI regulation. The company’s shares slumped 7.3 per cent as markets opened in the United States on Monday, following Huang’s bombshell confirmation over the weekend that he had been unfaithful to his wife and would cooperate with an investigation into his...

Can DeepSeek challenge OpenAI, Anthropic in AI agents as Harness adoption takes off?

Can DeepSeek challenge OpenAI, Anthropic in AI agents as Harness adoption takes off?

DeepSeek’s Harness artificial intelligence agent framework has reached 1.54 million daily active users less than three months after launch, the Chinese AI champion said on Sunday, marking rapid growth in a new battleground between leading Chinese and American AI giants. Users of Harness through the company’s official application programming interface were consuming around 92 trillion tokens a day as of November 4, the Hangzhou-based start-up said. That is equivalent to about 1.1 billion tokens...

Nvidia CEO Jensen Huang admits to affair; board orders investigation

Nvidia CEO Jensen Huang admits to affair; board orders investigation

The board of US AI chip giant Nvidia has announced an independent investigation as chief executive Jensen Huang said in a memo to employees that he had been unfaithful to his wife. Huang admitted to an extramarital affair and apologised to his family and colleagues in the memo, which the company published on its website on Sunday. “I was unfaithful to my wife. My actions hurt her and our children. There is no excuse for what I did. I am deeply sorry,” Huang wrote. He apologised and pledged to...

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