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
