Why Trump's Seizing Of Power In Venezuela May Spell Boom For Nvidia, Other AI Majors
The US carried out a large-scale strike against Venezuela and President Nicolas Maduro, along with his wife, were captured and flown out of the country.
Beyond the United States' seizure of the biggest oil reserves in the world, Trump's bombing of Venezuela appears to have a bigger motive, wherein power-hungry AI giants like Nvidia, Microsoft, Oracle and others may end up being major beneficiaries.
Mere months before the US struck Venezuela, Jensen Huang, CEO of Silicon Valley-based Nvidia, had highlighted in an interview with CNBC how the AI industry needs more energy to advance.
"We need more energy, we need more chips, we need better models and more models, and we need a lot more applications", the CEO said in the interview.
He further added that AI spreads across a variety of things, it is energy, chips, the models, and applications and, therefore, emphasised on the need for more energy.
Huang had also made a comparison with China in terms of energy and said that it is way ahead of the United States.
Not even three months later, Washington launched attacks on Venezuela, captured its President Nicolas Maduro and assumed control of the oil reserves.
Secretary of State Marco Rubio has also confirmed on Sunday that though the US will not take charge of Venezuela's daily affairs, it will focus on the country's oil sector.
Gaining access to these reserves may result in more energy mining, leading to a possible boom in AI-led tech companies like Nvidia, OpenAI, Microsoft, Meta Platforms and Oracle.
During the interview, Nvidia CEO had also lauded Trump's pro-energy stance and said that he was "so happy that President Trump leaned into pro energy growth, so that an entire industry above it could grow".
US Strikes On Venezuela: A Recap
US President Donald Trump said on Saturday that the US carried out a large-scale strike against Venezuela and President Nicolas Maduro, along with his wife, had been captured and flown out of the country.
"The United States of America has successfully carried out a large scale strike against Venezuela and its leader, President Nicolas Maduro, who has been, along with his wife, captured and flown out of the Country," Trump posted on social media.
Later, the Republican President claimed that US will take control of the country in the interim, until a transition could be organised. Trump said the US administration of Venezuela would include deploying US oil companies to the country.
