Tencent shrugged off a new US AI chip ban, saying it's stockpiled enough Nvidia processors for 'a couple more generations'

Thu, 11/16/2023 - 05:55

Martin Lau attends a conference in Sun Valley, Idaho. — Martin Lau, president of Tencent Holdings, attends the third day of the annual Allen & Company Sun Valley Conference, July 13, 2017 in Sun Valley, Idaho.
Drew Angerer/Getty Images

Tencent president Martin Lau said on Wednesday the company is holding a vast stockpile of chips.
Its inventory is enough to last its AI development a "couple more generations," Lau said.
The US issued a new AI chip export ban to China in October, sparking fears that Tencent could be hit.

A top Tencent exec said on Wednesday that the Chinese tech giant is holding a huge stockpile of Nvidia processors, downplaying fears that new US export bans might cripple its business.