Nvidia denies Enron-style accounting accusations amid AI bubble fears

The European Union is easing regulations on artificial intelligence, while the United States is taking even more drastic steps to deregulate the sector. This shift aims to foster growth in the AI industry, despite ongoing concerns about a potential bubble in the market, which Nvidia claims has not yet burst due to its strong earnings report.

Nvidia addressed recent accounting allegations in a memo to analysts, asserting that it does not employ Special Purpose Entities to obscure debt or inflate revenue, contrasting itself with the infamous Enron scandal. This response follows a series of stock sales and scrutiny over its financial practices.

Google has initiated discussions with customers, including Meta and major financial institutions, about utilizing its Tensor Processing Units (TPUs) in their own data centers. This move marks a significant step in Google's strategy to compete directly with Nvidia in the AI chip market, where it has traditionally rented out its technology rather than selling it outright.

The Trump administration is currently considering whether to permit Nvidia to sell its H200 artificial intelligence chips to China, a decision that reflects a significant shift from previous export restrictions aimed at safeguarding national security. This deliberation highlights the balancing act between economic interests and security concerns in U.S.-China relations.

US Commerce Secretary Howard Lutnick emphasized the need for the European Union to ease technology regulations while discussing potential steel and aluminum trade agreements. He also addressed the implications of selling Nvidia's H200 chips to China and the upcoming Supreme Court ruling on tariffs from the Trump Administration during an interview on Bloomberg Surveillance.

Revolut has achieved a valuation of $75 billion following a new capital raise led by prominent investors including Coatue, Greenoaks, Dragoneer, and Fidelity, with participation from Nvidia's NVentures and others. This funding round reflects strong investor confidence in the fintech sector and Revolut's growth trajectory.

Commerce Secretary Howard Lutnick announced that the decision to authorize sales of Nvidia’s H200 artificial intelligence chips to China is currently awaiting President Donald Trump's approval. This move comes amid ongoing discussions about the implications of such sales on national security, as highlighted during Lutnick's appearance on Bloomberg Surveillance.

A Shanghai intern resigned after his employer demanded he surrender an RTX 5060 graphics card he won at an Nvidia event during a business trip to Suzhou. The incident highlights tensions between personal achievements and corporate expectations in the tech industry.