China visit by chipmaker Nvidia chief Huang looms

Jensen Huang, cofounder and chief executive of US chipmaker Nvidia, is said to be planning to go to China in the coming week as Tesla's Elon Musk and JP Morgan's Jamie Dimon continue their visit.

Mainland media reported Huang's upcoming visit as the chipmaker's market valuation fleetingly passed the US$1 trillion (HK$7.8 trillion) mark. Huang has just visited Taiwan. Huang will visit some distributors, a Nvidia spokesman in the mainland said.

In Taipei, Huang said China's ability to catch up in chipmaking should not be underestimated, as the country will use the opportunity to foster its local graphics processing unit start-ups.

This comes as the chip war between China and the US escalates, following Beijing's limit on the chip sales of US semiconductor manufacturer Micron to key industries in the country.

And Beijing, Shanghai and Shenzhen announced their policy support for the development of artificial intelligence in chipmaking, infrastructure and robots last week, indicating that the country is striving to play catch-up in the field.

Musk has met with foreign minister Qin Gang as well as commerce minister Wang Wentao and has dined with Zeng Yuqun, chairman of top battery supplier CATL, since landing in Beijing on Tuesday.

Little is known of their discussions. The industry ministry has only said Musk and its head Jin Zhuanglong exchanged views about the development of EVs and connected cars.

Musk's first visit to China in three years comes as Tesla faces intensifying competition from Chinese-made EVs, as well as uncertainty about expansion plans for its Shanghai plant which produced over 700,000 Model Y and Model 3 vehicles last year - more than half of the company's global output.

Dimon, chief executive of the largest US bank, said JP Morgan will remain committed to doing business in China even as political tensions grow.

He said that he does not foresee a decoupling between the West and China but acknowledged the situation is "becoming far more complex."

He added: "Over time there will be less trade. But it won't be a decoupling and the world will go on."