By Suzanne Phan
Publication Date: 2026-11-06 02:31:00
OAKLAND, Calif. (KGO) — Authorities are investigating the theft of more than $11 million worth of Nvidia computer hardware in Oakland, in what experts describe as a sophisticated cargo heist targeting one of the world’s most valuable technology companies.
According to reporting by the Bay Area News Group, the theft involved $11.4 million worth of Nvidia cargo that disappeared after departing Oakland on its way to Texas.
The shipment, consisting of six pallets of Nvidia hardware, left Oakland on Aug. 29 and was bound for Fort Worth, Texas. Authorities said the cargo was picked up as planned by a truck identified as a food transport company.
Investigators later lost track of the vehicle in San Bernardino County.
In a statement, Oakland police said: “The Oakland Police Department is investigating a grand theft that occurred in East Oakland. The victim reported the crime to OPD on September 13, 2026.”
Olaf Groth, a professor at UC Berkeley’s Haas School of Business and has expertise in artificial intelligence, emerging technology and global economics, said Nvidia chips are highly sought after.
“There’s lots and lots of incentives to hijack those chips anywhere where security is weak,” Groth said.
He said the chips can command significantly higher prices outside the United States.
“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,” Groth said.
The theft is the…
