The US let Nvidia sell chips to an empty office in China
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TL;DR
- The US government is approving sales of Nvidia's AI chips to Chinese firms.
- Concerns exist regarding the vetting process for these Chinese firms.
- One approved firm, New Matrix, appears to be an empty office with no verifiable presence.
- New Matrix's owners are linked to a Chinese private equity firm blacklisted by the US since 2024.
- This is reportedly part of a pattern of approving chip purchases for companies connected to restricted entities.
- Nvidia sales to China were previously restricted under the Biden administration but relaxed under Trump.
- The Trump administration's relaxation of limits reportedly involved Nvidia giving the government a 15% cut of sales.
- Nvidia CEO Jensen Huang was allegedly targeted in a Chinese spying plot.