Chapter 386 It’s America’s Turn to Be Uncomfortable (Ch 386)

10:00 am Beijing time is 7:00 pm California time. The news of the Panshi Technology press conference was like a digital tsunami across the Pacific Ocean, impacting the technology circle and financial market on the other side of the ocean almost in real time.

The first to feel the chill was Nvidia’s stock price, which was still in after-hours trading and pre-market trading the next day.

The stock price, which was already under pressure due to the OpenAI incident, suddenly turned downward again after hearing the news from the Panshi Technology press conference, especially after the news that the efficiency of domestic chips caught up with the A100, the cost was greatly reduced, and the small dumpling model was free, it was as if it had encountered a heavy air raid. The decline widened rapidly.

Panic began to spread.

Nvidia headquarters in Santa Clara, California.

Although it was night, CEO Huang Renxun’s office was brightly lit. He had just finished an online meeting on how to deal with the impact of the OpenAI incident and was rubbing his tired temples when several emergency alerts from his subordinates and the market monitoring system suddenly popped up on the screen.

Shocking title:

“【Urgent】China’s Panshi Technology releases major AI progress: domestically produced chips claim to be as efficient as A100, with sharply reduced costs!”

“【Breaking News】Panshi Technology announced that the Xiaotuanzi AI model is free across the board, and the API price is almost zero!”

“[Market] Nvidia’s stock price plunged sharply in after-hours trading, falling below the $XXX mark!”

Huang Renxun’s heart sank suddenly, and he quickly clicked on one of the links, quickly browsing the core information of the press conference and the live video clips.

When seeing Su Yang confidently announce the performance and cost data of domestic chips, as well as the API price that was almost free, even the head of this technology giant who had seen many ups and downs looked unhappy.

“Immediately convene core executives for an emergency video conference! Now!” He almost shouted at the virtual assistant.

A few minutes later, Nvidia’s chief technology officer, chief financial officer, head of global sales, vice president of government relations, and others appeared on the giant screen in front of Huang Renxun.

“Have you all seen the news?” Huang Renxun said straight to the point, his voice slightly hoarse, “Panshi Technology and Huawei. They claim that the domestically produced chip has the same performance as A100 and only costs one-third of it. Is the information confirmed?!”

The chief technology officer, an Indian executive with gray hair and gold-rimmed glasses, nodded solemnly, “Jensen, the preliminary information has been verified. The press conference is real, and the demonstration effect looks… very amazing. We need more time to analyze and verify the specific performance data of the chip, but from the fact that Panshi dared to publicly announce it and directly open the model for free, they at least have considerable confidence. Especially the training cost, less than 6 million US dollars… This is terrible.”

The CFO then added: “The stock price reacted very violently. The market obviously regarded this news as a major negative. If the performance and cost of their chips are really as advertised, our existing pricing system will be devastated, especially in the Chinese market, and may even affect the world.”

“The problem is,” the head of global sales interjected, “we can’t even sell high-performance chips to China right now! We’re blocked by our own policies.”

This statement ignited the latent resentment in the conference room.