Nvidia is booming — but the UK government and others are keeping a very close eye on chip giant, here's why

(Image credit: Nvidia Latam)

Nvidia has disclosed that the UK has joined the lengthening list of governments keeping tabs on its business practices.

“Our position in markets relating to AI has led to increased interest in our business from regulators worldwide,” a filing with the US Securities and Exchange Commission (SEC) from the company read.

The tech giant confirmed that the UK has now joined the list alongside the European Union, US, France and China.

Business and competition under the microscope

The AI chip giant's stock price and markets have boomed to new heights, including briefly surpassing Amazon in terms of market value earlier this month.

Nvidia released its financial results for the fourth quarter and fiscal 2024 on Wednesday, revealing that its quarterly revenue increased 265% to $22.1 billion since fiscal 2023. Full year revenue also saw a huge leap to $60.9 billion, up 126% year-on-year.

Speaking on the announcement, Nvidia founder and CEO Jensen Huang said, “Accelerated computing and generative AI have hit the tipping point. Demand is surging worldwide across companies, industries and nations.

“Our Data Center platform is powered by increasingly diverse drivers — demand for data processing, training and inference from large cloud-service providers and GPU-specialized ones, as well as from enterprise software and consumer internet companies. Vertical industries — led by auto, financial services and healthcare — are now at a multibillion-dollar level.”

As hype surrounding AI seemingly doesn’t stop, Nvidia GPUs have frequently been the gold standard for developing AI models. This has given the company a dominant hold on the supply of AI chips, as other companies such as Microsoft, Apple, Alphabet and Amazon have scrambled to secure chips for their own models.

In a company filing submitted to the US Securities and Exchange Commission, Nvidia said, “Our position in markets relating to AI has led to increased interest in our business from regulators worldwide, and we expect to receive additional requests for information in the future.”

Via Bloomberg

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Benedict Collins
Staff Writer (Security)

Benedict Collins is a Staff Writer at TechRadar Pro covering privacy and security. Before settling into journalism he worked as a Livestream Production Manager, covering games in the National Ice Hockey League for 5 years and contributing heavily to the advancement of livestreaming within the league. Benedict is mainly focused on security issues such as phishing, malware, and cyber criminal activity, but he also likes to draw on his knowledge of geopolitics and international relations to understand the motives and consequences of state-sponsored cyber attacks.

He has a MA in Security, Intelligence and Diplomacy, alongside a BA in Politics with Journalism, both from the University of Buckingham. His masters dissertation, titled 'Arms sales as a foreign policy tool,' argues that the export of weapon systems has been an integral part of the diplomatic toolkit used by the US, Russia and China since 1945. Benedict has also written about NATO's role in the era of hybrid warfare, the influence of interest groups on US foreign policy, and how reputational insecurity can contribute to the misuse of intelligence.

Outside of work Ben follows many sports; most notably ice hockey and rugby. When not running or climbing, Ben can most often be found deep in the shrubbery of a pub garden.