A California man, Yiu Kong Lui, 38, has been charged with helping to smuggle over $300 million worth of Nvidia semiconductor chips into China, according to prosecutors. Lui was arrested on Thursday and faces charges of violating export controls, smuggling, and money laundering. It is illegal to export advanced semiconductor chips to China without a license, as the US competes with China in the AI race. Prosecutors allege Lui conspired with foreign shipping companies to deceive US manufacturers.
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