Kuehne + Nagel

The US government is investigating Apex Logistics, a Singapore-based subsidiary of Kühne+Nagel, on suspicion of involvement in concealing Nvidia AI chips bound for China. Authorities are examining whether export restrictions were circumvented, including via shipments purportedly of systems from manufacturer Super Micro Computer; the shipments in question date to 2024. Kühne+Nagel says Apex is fully cooperating with authorities and sees no link to the parent company. » Plus sur n-tv.de

The US agency BIS is investigating Kühne+Nagel’s Singapore-based subsidiary Apex over the alleged illegal transport of Nvidia AI chips and complete AI systems to China; shipments from 2024 are affected, and a report cites nearly 50 deliveries. Apex says it is fully cooperating with authorities and describes the case as limited to a small number of consignments; two responsible employees have left the company. A Kühne+Nagel spokesperson stresses the parent company has not been contacted and the case is unrelated to Kühne+Nagel. Kühne+Nagel’s share price fell temporarily by about 3.5 percent to €213.2. » Plus sur finanzen.net

Klaus-Michael Kühne has died at the age of 89 after a long illness. He leaves behind Kühne + Nagel, the world's largest air and sea freight forwarding company, as well as holdings in Lufthansa and Hapag-Lloyd. Under his leadership, the company's market value grew massively since 1994; his private fortune is estimated at around 37 billion euros. Control of the legacy will in future be held by the Kühne Foundation, chaired by Thomas Staehelin, while CEO Dominik de Daniel will run the operating business. » Plus sur wiwo.de