More than two months after a $11.4 million shipment of Nvidia hardware vanished between Oakland and Texas, police have announced no arrests and no recovery of the cargo, with the investigation ongoing.
The six pallets of unidentified Nvidia equipment left Oakland on August 29 aboard a truck displaying the logo of a food transportation company, according to reports. The truck was bound for Fort Worth, Texas. The theft was not noticed until early September, when the buyers realised the shipment had never arrived. Police tracing the truck's route found it made several multi-hour stops before being lost in San Bernardino County, California. A grand theft report was filed on September 13.
Olaf Groth, a professor at UC Berkeley's Haas School of Business, said: “These chips command about double the price that they command inside the United States. So, if a chip costs about $550,000, then they go for about 1 million or more abroad,”
In a similar heist in Brazil in September, two pallets of Nvidia GeForce RTX 5090 graphics cards valued at about $470,000 disappeared at São Paulo's Guarulhos Airport, with an investigation uncovering a possible inside job.
Analysis
Why This Matters
- High-value GPU thefts underscore the difficulty of securing advanced technology in transit.
- The stolen hardware could end up on black markets abroad, with potential national security implications due to advanced computing capabilities.
- The lack of arrests suggests organised crime networks may be targeting these shipments.
Background
GPU theft has become increasingly common as demand for high-performance chips surges for AI and gaming. Nvidia's hardware, especially server-grade GPUs, can resell for double the US price in foreign markets. This heist is one in a series of such thefts globally.
Key Perspectives
Olaf Groth (UC Berkeley Haas School of Business): Says stolen chips can command double the US price abroad, providing strong incentive for theft.
What to Watch
- Whether law enforcement makes any arrests in the coming weeks.
- If any of the stolen hardware surfaces on online marketplaces, as happened in the Brazil case.
- Further security measures by logistics companies for high-value tech shipments.
Checked
11 claims in this story checked against 2 sources: 11 supported.
Show each claim
- SupportedThe $11.4 million Nvidia shipment was still missing more than two months later.Ars Technica - All content: “A shipment of Nvidia hardware valued at $11.4 million vanished in transport between Oakland and Texas over the summer, and more than two months later, police have announced no arrests or recovery of the cargo.”
- SupportedPolice had announced no arrests and no recovery of the cargo, and the investigation was ongoing.Ars Technica - All content: “police have announced no arrests or recovery of the cargo. [...] Oakland police confirmed that there was a grand theft report filed on September 13 and that the investigation remains ongoing.”
- SupportedThe incident raised concerns among experts about security of high-value technology shipments.Latest from Tom's Hardware: “The incident has also raised concerns among experts about the security of high-value technology shipments and the potential national security risks posed by advanced computing hardware making its way into black-market channels.”
- SupportedThe missing shipment was valued at $11.4 million.Ars Technica - All content: “A shipment of Nvidia hardware valued at $11.4 million vanished in transport between Oakland and Texas over the summer”
- SupportedSix pallets of unidentified Nvidia equipment left Oakland on August 29, bound for Fort Worth, Texas.Ars Technica - All content: “six pallets of unknown Nvidia equipment left Oakland on August 29 on a truck bound for Fort Worth, Texas.”
- SupportedThe truck bore the logo of a food transportation company.Ars Technica - All content: “The hardware was reportedly picked up as scheduled by a truck bearing the logo of a food transportation company”
- SupportedThe theft was not noticed until early September, when the buyers realised the shipment had not arrived.Ars Technica - All content: “The theft wasn't noticed until early September, when the buyers realized that the shipment had never been received.”
- SupportedPolice tracing the truck's route found several multi-hour stops before losing track of it in San Bernardino County, California.Ars Technica - All content: “Police attempting to trace the truck's route found it had made several multi-hour stops after picking up the hardware before losing the truck somewhere in San Bernardino County, California.”
- SupportedOlaf Groth, a professor at UC Berkeley's Haas School of Business, said the quoted words about chip prices.Latest from Tom's Hardware: “"These chips command about double the price that they command inside the United States. So, if a chip costs about $550,000, then they go for about 1 million or more abroad," said Olaf Groth, a professor at UC Berkeley's Haas School of Business.”
- SupportedIn a similar heist in Brazil in September, two pallets of Nvidia GeForce RTX 5090 graphics cards valued at about $470,000 disappeared at São Paulo's Guarulhos Airport.Latest from Tom's Hardware: “In a similar incident from Brazil back in September, two pallets containing Nvidia's top-of-the-line GeForce RTX 5090 graphics cards, valued at approximately $470,000 (R$2.5 million), disappeared at Guarulhos International Airport in São Paulo.”
- SupportedThe investigation into the Brazil theft uncovered a possible inside job.Latest from Tom's Hardware: “The investigation eventually uncovered a possible inside job, with Brazilian police identifying three airport employees suspected of helping carry out the heist.”
