Nvidia (NASDAQ:NVDA) Chief Executive Jensen Huang met with Japanese Prime Minister Shigeru Ishiba on Monday, urging increased power production to support artificial intelligence development, according to Bloomberg News.
Following the discussion, Huang emphasized Japan's strategic position in AI innovation, citing its strength in robotics and advanced manufacturing. He underscored that expanding AI capabilities hinges on access to ample energy, the report said.
Developing intelligence demands power, Huang noted. Japan must invest in building updated infrastructure.
Huang's visit to Japan followed recent meetings in Beijing, where he engaged with Chinese officials and industry leaders. His trip to China occurred shortly after the U.S. imposed additional export restrictions on Nvidia's H20 chips, mandating licenses for sales to China. The regulation could cost the chipmaker an estimated $5.5 billion in revenue.
It's important to note that this stock's performance has lagged the broader market across every time frame: it fell 5.65% in the past week versus a 0.28% gain for the S&P 500, dropped 15.09% over one month compared with the index's 6.91% decline, and over six months and year?to?date it's down 25.88% and 24.42% versus the S&P's 9.57% and 10.18% losses.
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