BUSINESS-ECONOMY
Nvidia has hired hundreds of Chinese nationals this year to strengthen its research capacities and concentrate on new autonomous driving technology. A Bloomberg report quoting sources showed from an initial staff of around 3,000 in early 2024, the world's second most valuable firm is expected to grow to over 4,000 by the end of the year. Nvidia has strengthened its team of self-driving researchers in Beijing by adding over 200 employees as part of this development. According to a Bloomberg source, the American firm has also strengthened its teams responsible for developing networking software and after-sales support. In response to insatiable demand for its AI processors, Nvidia is increasing its workforce worldwide. Despite Nvidia being unable to sell its most sophisticated transistors in China due to US trade restrictions, the country nonetheless managed to generate 5.4 billion dollars in sales last quarter. China is still a major market and research centre for the American chip designer. Despite Nvidia's efforts to keep relations with Beijing cordial, China’s antitrust agency revealed an investigation into Nvidia's acquisition of Mellanox in 2020. A deal that the authorities had previously conditionally allowed. The investigation started shortly after CEO Jensen Huang praised China’s technological achievements on a trip to Hong Kong just a few weeks ago. (With inputs from the agencies) A journalist, writing for the WION Business desk. Bringing you insightful business news with a touch of creativity and simplicity. Find me on Instagram as Zihvee, tr None
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