$11.4M shipment of Nvidia cargo stolen from Oakland
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 latest in a series of crimes targeting high-value technology shipments in the Bay Area. Last year, police in Fremont and Union City investigated burglaries involving Nvidia cargo valued at more than $7.5 million.
Groth said the scale and complexity of such thefts suggest increasingly sophisticated criminal operations.
"Because the cargoes are getting bigger. The heists are getting more complex and that will point toward a professionalization of the teams that are hijacking these," he said.
An ABC7 viewer also provided video of a separate attempted theft in September. According to police, suspects believed they were targeting trucks carrying expensive Nvidia technology. The trucks instead contained 40,000 pounds of sand.
Groth said the incidents highlight broader concerns about protecting advanced computing technology.
"Security has to get a lot tighter around these because they're a national security asset," he said.
He also raised concerns about where stolen hardware could ultimately end up.
"This is a national security concern as well because we don't know where these chips are going. They could be going to China, they could be anywhere where we have conflict in the world," Groth said.
Authorities have not announced any arrests in the $11.4 million theft, and the investigation remains ongoing.
Experts say the case underscores growing concerns about the security of high-value technology shipments and the potential national security implications when advanced computer hardware enters the black market.
