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Nvidia CEO Huang Said No to AMD Deal Using ‘Apple Strategy’

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Nvidia CEO Huang Said No to AMD Deal Using 'Apple Strategy'

Back when Nvidia was a smaller industry player, AMD almost bought it. According to insiders, Nvidia CEO Jensen Huang had a deal-breaking condition that prevented the merger: He wanted to be CEO of the joint company.

Former AMD engineer Hemant Mohapatra shared a behind-the-scenes look into why an AMD-Nvidia alliance never came to fruition in a series of Friday posts on X. Mohapatra worked at AMD for over six years before eventually moving into venture capital.

He wrote that AMD “should have acquired Nvidia — and we tried,” but Huang “clearly thought very long term and was building his ‘Apple strategy'” of locking in users.

Related: Nvidia Long-Term Employees ‘Semi-Retired’ Multimillionaires

“He refused to sell unless he was made the joint company’s CEO to align with this strategy,” Mohapatra wrote. “AMD blinked and our future trajectories splintered forever.”

Current AMD engineer Phil Park confirmed Mohapatra’s account on Friday, writing, “I’ve never met Hemant, and though there are a few things where I have a different opinion, the anecdote about Jensen wanting to be CEO is true.”

Related: Is It Too Late To Buy Nvidia? Ex-Morgan Stanley VP Weighs In

A 2012 Forbes article further confirms the possible Nvidia-AMD merger and gives it more of a concrete time frame.

According to the piece, Nvidia almost became part of AMD in 2006 as AMD tried to get ahead of Intel by adding a graphics arm. After Huang wanted to be CEO of the combined tech company, AMD acquired Nvidia’s rival ATI for $5.4 billion in July 2006 instead.

At the time of writing, Nvidia’s $3.1 trillion market cap is over ten times more than AMD’s $288 billion.

Related: Elon Musk Praises Nvidia CEO Jensen Huang’s Leadership Style

Nvidia “stuck to their guns, and the market came to them eventually when AI took off,” Mohapatra wrote. “Most give up, Jensen just kept going harder.”

Nvidia CEO Jensen Huang in June 2024. SAM YEH/AFP via Getty Images

Nvidia has been making graphics chips for more than 30 years and started working towards AI and deep learning in 2006.

The multi-year, multi-billion dollar effort gave Nvidia a head start in the AI race: Nvidia’s chips are now the brains of OpenAI’s ChatGPT.

Nvidia also has over 80% of the AI chip market, though competition is intensifying as some of its biggest tech clients focus on making chips in-house.

Related: Nvidia CEO Jensen Huang Reveals His Competition Strategy



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Beware of These Risky Sales Tactics That Are Doomed to Fail or Backfire

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Beware of These Risky Sales Tactics That Are Doomed to Fail or Backfire

Opinions expressed by Entrepreneur contributors are their own.

True story: Recently, my daughter was at a major brand car dealership with her boyfriend, intending to purchase a pre-owned car. Note I made up the numbers for the sake of my daughter’s financial privacy, but the takeaways are still the same.

The dealership asked for, let’s say, $26,000 “all in” for the car, but my daughter had already decided that $20,000 was the most she would pay. There was a lot of ground to cover to actually make a deal happen. After some discussion, the salesperson did his best, dropping the price to $25,000. But that still left a big gap, so he told her, “Let me go check with my manager and see if he has any ideas.”

After five minutes, the salesperson and his manager entered the room together. The manager explained that at $25,000, this was a great price; it was already well below their MSRP, and the deal was “very thin” as it was for him. He then used the famous line, “Okay, here’s what I’m going to do to get you into this car today.” The manager pulled out a piece of paper with revised numbers that showed his price now at $23,995. He explained to my daughter that this was the absolute best possible price. He was “all in;” this was his “best offer,” and he told her to take it or leave it. For the grand finale — keeping in mind that this is a 100% true story — the manager took out a big red ink stamp and smacked it down on the paper. The stamp read “FINAL” in bold red ink. $23,995. FINAL.

My daughter responded, “Thanks, but I’m sorry; it looks like it’s not going to work out.” Without hesitation, he immediately blurted out, “How about $22,500?”

When my daughter told me the story, I had a wonderful laugh. After the big show, the manager held his price for a full six seconds. And the idea of the red final stamp just made the story even better. But the more I thought about it, the more I realized there’s actually quite a lot to unpack here regarding sales tactics, psychology and effectiveness.

Related: 3 Unconventional Sales Tactics That Will Close More Deals

I’m not in the car business, and I’ve never sold cars, but I can see some familiar sales tactics (and mistakes) playing out here:

Playing the waiting game

All this went down after my daughter had spent hours on the lot. It was getting late in the day on a Saturday, and the manager knew she was hoping to get it done. At some level, the manager was wearing her down and playing out the clock, playing the “waiting game.” It didn’t work in this case, but often, this notion of using time as a weapon can be very effective. Utilizing time as a strategic element in the negotiation process can be effective, but it must be used carefully and respectfully. Pushing too hard on time constraints can backfire.

Closing the deal by changing the sales lineup

When the salesperson reached his personal negotiation line or felt he would lose her, he brought in his manager. In addition to adding some time to the clock, this step created a new opportunity for a new dynamic. The dealership never really wants a potential buyer to walk out the door, so if one person doesn’t get the job done, it’s always worth trying someone else. Involving a manager or company administrator in the negotiation process can create new dynamics and opportunities for closing a deal.

Proposing your best and final offer

Although I laughed hysterically when I heard about the red stamp, I soon realized it was actually a smart move. Once upon a time, I’m guessing some sales and marketing people sat in a room, and someone said, “I have an idea — let’s make a red stamp that says final and use that during negotiations.” Everyone probably laughed, and they would have said, “No, I’m serious!” And then everyone thought about it and agreed, as funny of an idea as it was, it actually made sense. It’s one thing to tell someone something verbally, but when it’s “official” and in red ink on paper, it’s human nature to believe it and take it as indisputable. Using psychological sales tactics to create a Fear Of Missing Out (FOMO) effect, such as a “Final Offer” stamp, can be effective in conveying seriousness and finality, but you have to honor your word, or you will likely lose credibility.

All the tactics I outlined above were smart, but here’s where I think the dealership dropped the ball:

Trying a shutdown move too soon

The manager came in cold, and rather than take some time (again, time is on their side) to talk about the value, create some alignment, and build some rapport, he went straight for the kill. That tactic may work, but I felt it was too aggressive. He would have been better off discussing the pain points and goals concerning the product, coming up with some extra incentives, etc. Understanding the customer’s needs, discussing the product’s value and building rapport and trust can be crucial in successful sales.

Related: How to Master Your Sales Success — Why Every Answer and Rejection Matters

Putting an out-of-reach offer on the table

The manager decided to go for the close in a fairly aggressive way. In some cases, that tactic makes sense. But he played it all wrong with the numbers. He knew they were a full $5,000 or 20% off, and he decided to put it all on the line at $23,995. Obviously, given how fast he dropped another thousand, he had plenty more room. If he was going for the hard close and “FINAL” offer, he should have made it more compelling. By putting on the big show and then immediately dropping his price, he completely lost credibility and lowered the odds of closing. In this case, he lost my daughter’s trust and the sale. In negotiation, it’s important to understand the other party’s budget and limits before making an offer. Being aware of their constraints will increase the likelihood of closing a deal.

Saying your offer is “final” when it’s not

If you offer something of value at a good price and tell them it’s “final” (which I personally don’t recommend as a sales tactic), then stand by it and mean it. Your word has to mean something. Once he realized his “final” price was not going to work, rather than lower it, he could have thrown in some additional valuable incentive, perhaps some amount of free service or some kind of special financing. If a “final offer” is presented, standing by it as your final word is essential. If adjustments are needed, they should include additional incentives or value to maintain trust and credibility.

Sales is an art, no doubt about that. A great salesperson builds a relationship, asks questions and listens, understands the client’s pain points, is honest and transparent, and operates with integrity. Of course, strategies, techniques, incentives, and a lot of human emotion and psychology are at play, but all of them can happen successfully without losing your credibility.

So, the overall moral of my story? Choose wisely before using the big red stamp!

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Why Morgan Stanley Analysts Doubled Apple iPhone Predictions

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Why Morgan Stanley Analysts Doubled Apple iPhone Predictions

Apple entered the AI game last month with Apple Intelligence, a suite of new features designed to bring AI straight to iPhone, iPad, and Mac screens. Apple’s AI has a catch though: it only works on the newest iPhones and it could be the reason why millions of iPhone users with older models seriously think about upgrading, say Morgan Stanley analysts.

Morgan Stanley analysts named Apple a top-pick stock on Monday, after which Apple shares jumped to an all-time high, per Bloomberg. Apple Intelligence is a “clear catalyst” for iPhone upgrades and will enable Apple to sell nearly half a billion iPhones in the next two years, analyst Eric Woodring stated.

Apple Intelligence is expected to come out this fall for the iPhone 15 Pro and 15 Pro Max — older iPhones will not have access to Apple’s AI. The update offers AI-generated emojis, a smarter Siri, and direct access to ChatGPT, though some anticipated Siri AI upgrades may arrive next year.

Related: Apple Is Expanding What The iPhone Can Do. Here’s What’s Changing Right Away.

“We believe that there is record level of pent-up demand entering the iPhone 16 cycle later this year,” Woodring noted, adding that Apple Intelligence delivers “unique-to-the-Apple-ecosystem” value.

Morgan Stanley previously forecasted that Apple would sell around 230 million iPhones in the same time frame, making the new prediction more than double the previous one.

Apple is also uniquely positioned to be the AI “base camp” for its customers, “just as it has done for digital content (iPod) and social media (iPhone),” wrote Morgan Stanley analyst Ananda Baruah.

Apple CEO Tim Cook waves to customers before they enter Apple’s 5th Avenue store. (Photo by Drew Angerer/Getty Images)

Other analysts at different firms have made similar predictions. Wedbush Securities analyst Dan Ives told Reuters in June that more than 15% of existing iPhone users could buy the new iPhone Apple is expected to release this fall.

Related: Apple Labels These 3 Iconic Products ‘Vintage,’ and Soon-to-Be ‘Obsolete’

Ives estimated that 270 million iPhone users have not bought a new model in the past four years.

More than half of Apple’s overall revenue in the second quarter of 2024 came from iPhones; Apple has the majority of the market share for smartphones in the U.S.

At the time of writing, Apple was the largest company in the world with a $3.584 trillion market cap. Microsoft, Nvidia, Google, and Amazon followed.

Related: Warren Buffett Had to Work From His iPhone After Telephone Lines Went Down at Berkshire Hathaway: ‘I’m Glad We Didn’t Sell All of Our Apple’

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How to Start a Business This Weekend: AppSumo CEO Noah Kagan

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How to Start a Business This Weekend: AppSumo CEO Noah Kagan

Noah Kagan shared how he started AppSumo, a “Groupon for software,” in one weekend in a new podcast episode. The startup cost was $60; AppSumo earned $80 million last year and Kagan is still its CEO.

In 2010, Kagan was 28 years old and had already experienced what it was like to be the 30th employee at Facebook and the fourth employee at personal finance app Mint.

“I think I just felt insecure at some of these places,” Kagan told fellow entrepreneur Jeff Berman in a June episode of the “Masters of Scale” podcast.

Kagan was fired after nine months at Facebook by Mark Zuckerberg and later fired from Mint, too. He realized that dedicating his time to his day job carried a risk — another person could decide to let him go at any time.

Related: The Author of ‘Million Dollar Weekend’ Says This Is the Only Difference Between You and the Many ‘Very, Very Dumb People’ Making a Lot of Money

“I think I wanted to prove that I’m smart or prove that I’m successful or prove that Facebook when they fired me, and then when Mint fired me, [that] I can do it,” Kagan said.

The idea for AppSumo, a marketplace of software deals for small business owners or solopreneurs, was born when Kagan thought there was a way to promote software tools and also get paid for it. He saw that the site MacHeist gave Apple users discounts on software bundles and wanted to try making the same type of discounts available to a broader audience.

“My interest was letting the geniuses create software, and my skill and my excitement is promotion,” Kagain said.

The business came together in about 60 hours. First, Kagan found software he wanted to sell: the image-sharing service Imgur. He cold-emailed Imgur’s founder on Reddit and got approval to sell a discounted version in exchange for a cut of sales.

Related: Here’s Why Reddit Turned Down an Acquisition Offer From Google in Its Early Days, According to Cofounder Alexis Ohanian

The next piece was meeting with Reddit’s founding engineer to ask for free advertising. He got that too.

The final part was paying a developer to create a website with a PayPal button and purchasing the AppSumo.com domain name.

What was the total cost to launch the business? $60 and one weekend of his time.

AppSumo made $300,000 in the first year, and $3 million in the second, Kagan said in the podcast. It brought in $80 million in revenue last year.

Kagan now has a net worth of $36 million.

Kagan said that the crucial part of business was being invested in the problem and getting excited about it.

Related: This Flexible Side Hustle Is Helping Millions Earn Extra Cash — and Might Be ‘More Attractive’ Than an Office Job

“I think that’s the thing in business people are kind of missing out,” Kagan said. “They’re chasing AI now or chasing being an influencer. I think find areas [where] you’re like, I don’t know if I’m going to ever get tired of this.”

Starting a side hustle or finding an extra source of income has an upside — according to Kagan, you have more control over your future.

“If you can just give up 30 minutes a week, if you can just give up one Netflix show a week, if you can give up one thing a week, and you keep doing it weekly, eventually you can have that business,” he said.

Related: This Is the Winning Formula for Starting a Successful Podcast, According to a New Analysis

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