The chip maker's expanded partnership with the iPhone manufacturer comes a day after the U.S. tightened restrictions on exports of semiconductors to China.
Nvidia stockholders could do with a bit of reassurance—and the company is doing its best to give it. A day after the U.S. tightened restrictions on exports of chips to China, Nvidia disclosed an expanded partnership with Foxconn to accelerate the development of self-driving cars.
The expanded partnership is a sign of new markets where Nvidia’s chips can be used. While Foxconn is best known for manufacturing iPhones, it hopes the factories will help broaden its business, particularly into manufacturing electrical vehicles with autonomous-driving capabilities. Nvidia CEO Jensen Huang has previously said the automotive industry is a $300 billion opportunity for the chip maker.
The question is whether the kind of long-term opportunity represented by self-driving cars can reassure Nvidia investors focused on the short-term threat posed by tighter U.S. restrictions on chip exports to China. The initial signs aren’t encouraging. Nvidia might benefit if it can shift the focus from the limits on exports of its graphics-processing units —the favored chips for training AI systems—and toward its wider range of products.
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