Alibaba announces plans to list T-Head, its Nvidia chip rival
Alibaba noted it had already filed confidentially on Sept. 11 to list T-Head on the Hong Kong Stock Exchange.
Nvidia CEO Jensen Huang's personal scandal of an affair has sparked fears of a $250 billion market dip for the AI chip giant. Nigel Green, CEO of deVere Group, believes savvy investors see this as an opportunity to buy into the company at a discounted price. Nvidia shares have already dropped around 5% ahead of the US open following the board's launch of an independent investigation into reports of a foreign intelligence effort targeting Huang.
Green states that while the scandal is a "personal crisis" for the CEO, nothing about it changes Nvidia's core business - the company's chips are still in high demand as the world continues to shift towards computing power for AI technology. Green notes that the market is pricing this scandal like a corporate crisis, resulting in a potential loss of $200 billion to $250 billion in Nvidia's value.
However, he assures that the company's chip sales and global need for them remain unchanged. If the investigation clears Huang and finds no compromise of national security or company secrets, the market may quickly move on, making the current discounted price an attractive opportunity.
Written by urgent.news from IOL's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
