Nvidia CEO Jensen Huang told shareholders that national security takes priority over commercial opportunities, and that data centres built with smuggled Nvidia chips are unworkable because Nvidia won't provide support or repairs. He addressed the growing chip smuggling problem amid high-profile enforcement actions, including the Supermicro case involving $2.5B in servers routed to China. Grey-market prices for Nvidia's B300 servers in China have reached ~$1M, nearly double the US list price. Huang also highlighted Nvidia's financial performance — $216B in revenue and $96B in free cash flow for fiscal 2026 — and noted that AI ROI questions have been answered, citing tripled GitHub pull requests from AI-generated code.
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