Senator Elizabeth Warren has demanded that Nvidia Corp (NASDAQ: NVDA) CEO Jensen Huang testify before Congress regarding reports of the company’s technology powering Russian military drones.

The call for testimony follows a New York Times report stating that Ukrainian investigators discovered Nvidia Jetson Orin computers in the wreckage of Russian drones used in attacks near Zaporizhzhia. Ukrainian officials indicated these systems may have enabled autonomous targeting without human oversight.

Warren Criticizes Huang's Schedule

Warren took to X to criticize Huang, arguing that his recent public engagements demonstrate he can allocate time for congressional inquiries.

"If Jensen Huang has time to attend a $1 million-a-head dinner at Mar-a-Lago and fly across the world to meet with President Xi Jinping, he can find time to testify in front of Congress about reports that NVIDIA technology is powering Russia’s war machine," Warren said.

This marks an escalation from June, when Warren invited Huang to testify before the Senate Banking Committee regarding Nvidia’s China operations and US export controls. Huang declined, citing unavailability, but invited committee members to visit Nvidia’s headquarters in California.

Nvidia Denies Direct Sales to Russia

Nvidia responded to the allegations via an emailed statement to Benzinga. The company clarified that the Jetson systems found in the drones are consumer-grade products intended for students, developers, and startups.

Key points from Nvidia’s statement:

• The Jetson line was not sold directly to Russia.
• The devices were not designed for military applications.
• Nvidia cannot track secondary sales or resale markets.
• The company will take action if it determines any customer is violating US export controls.

Ukrainian defense intelligence also reported finding an Nvidia Jetson computer on a Russian S-71M Monochrome missile tested in attacks against Ukraine. One drone equipped with such a system reportedly killed three people in Zaporizhzhia on July 6.

Market Reaction

Nvidia shares closed at $208.48 on Monday, down 2.91%. In after-hours trading, the stock rose 0.20% to $208.90. Benzinga Edge Rankings place Nvidia in the 99th percentile for growth, with positive short-, medium-, and long-term price trend ratings.

What the Numbers Show

The divergence between Nvidia’s denial of direct sales and the physical presence of its hardware in active combat zones highlights the limitations of current export control tracking. While the company asserts it does not sell to Russia, the reliance on secondary market monitoring creates a gap between corporate policy and end-use reality.

Nvidia Corp has informed customers that prices for its artificial intelligence servers will rise by more than 15%. The increase applies to systems equipped with Vera Rubin and Grace Blackwell platforms, with shipments expected in early 2027.

The hike is driven by surging costs for memory chips, which constitute a significant portion of server bill-of-materials. Suppliers including Samsung Electronics, SK Hynix Inc, and Micron Technology have gained pricing power as AI infrastructure demand strains global supply chains.

Affected Platforms and Customers

The price adjustment is not uniform; it depends on the specific Nvidia chip generation and memory configuration used in each system. Server manufacturers building for major data center operators have already begun notifying their clients.

Key companies reportedly affected include:

• Microsoft Corp
• Alphabet Inc’s Google
• Oracle Corp

Nvidia did not immediately respond to requests for comment regarding the specific magnitude of increases for individual SKUs.

Market Context

The move reflects broader inflationary pressures in the semiconductor supply chain. Similar to recent price adjustments by Apple Inc and Qualcomm Inc, Nvidia is passing on higher input costs to enterprise buyers. This development comes as the company prepares to report second-quarter results on Aug. 26, with analysts projecting revenue of $92 billion, a 96% jump year-over-year. Third-quarter guidance is projected to reach $103 billion.

Nvidia shares closed at $214.72 on Friday, down 0.98% for the day. In the past 12 months, Nvidia shares are up by 19.41%.

What the Numbers Show

The correlation between rising memory costs and Nvidia’s pricing strategy highlights a dependency in AI hardware economics. While Nvidia’s revenue is projected to surge to $92 billion in Q2, the pass-through of component costs suggests that gross margin expansion may face headwinds if memory prices continue to outpace volume efficiencies. The 15%+ hike indicates that supply constraints are shifting bargaining power from chipmakers to component suppliers like SK Hynix and Micron.