Could Tesla concede China business despite Musk's 'absurdly fake news' dismissal?
Elon Musk has dismissed a Wall Street Journal (WSJ) report that stated that Tesla (NASDAQ: TSLA) is weighing a sale, spinoff or closure of its China operations ahead of a possible SpaceX merger, calling it “absurdly fake news” on X on Friday.
The denial comes as US technology firms from Nvidia to Tesla face renewed questions about how deeply they can stay planted in the world’s second-largest economy.
Nvidia (NASDAQ: NVDA) spent years defending its access to Chinese buyers before Washington’s export rules boxed it in, and its CEO was in the US capital this week to plead the case.
Now, it is Musk swatting down rumors that his carmaker is the next American giant looking for the exit.
What does Nvidia’s Washington visit show?
Nvidia CEO Jensen Huang spent the week meeting lawmakers and administration officials in Washington. He reportedly met Commerce Secretary Howard Lutnick on Tuesday, July 28.
US export controls already keep Nvidia’s most advanced processors out of China, and the trip came after senior Trump administration officials accused Beijing start-up Moonshot AI of training its Kimi K3 model on export-controlled Nvidia chips routed through Thailand.
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