Nvidia shares had just hit another record when New York-based short seller Culper Research took aim at the Silicon Valley chipmaker. That was on May 13, when the tech giant, the world’s most valuable company, was becoming increasingly crucial to an artificial intelligence trade that had powered Wall Street to successive all-time highs.
But Culper saw dangers. In a 40-page report circulated to clients, the activist research firm declared Nvidia had a “significant China problem” and raised questions about its chief executive, Jensen Huang, and his unusually close relationship with an executive at Megaspeed, a major buyer of computer chips with suspected links to China’s intelligence services.
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