Chinese tech companies are spending billions on nerfed Nvidia GPUs

News Snapshot:

Why it matters: China's internet giants are securing as many Nvidia GPUs as they can, a new report suggests. Recent sanctions imposed by the White House have forced Asian companies to spend billions on the devices, which are essential if they want to develop their own generative AI systems. The US government is increasing its pressure on American tech companies to curb exports of advanced computing technologies to China. The Chinese government said it will retaliate, while Chinese companies are currently investing billions of dollars to purchase (or likely pre-purchase) GPU cards made by California-based company Nvidia. A new report...