Authorities in Oakland, California, are currently investigating a significant theft involving six pallets of NVIDIA equipment valued at approximately $11.4 million. The cargo was originally destined for Fort Worth, Texas, and its disappearance has raised serious concerns about security in the transport of high-value tech goods.

Details of the Incident

On August 29, a truck, which displayed a logo from a food transportation company, was authorized to pick up the cargo in Oakland. However, shortly after the pickup, the vehicle and its drivers deviated from their expected route and ceased any communication. Reports indicate that the truck made several prolonged stops before authorities lost track of it in San Bernardino County.

It was only in early September that the absence of the cargo was noted, leading to the theft being reported to Oakland police on September 13. As of now, no arrests have been made in connection with the incident.

The Value of the Stolen Equipment

Although specifics regarding the items stolen have not been disclosed, the potential value of NVIDIA hardware on the black market is considerable. According to Professor Olaf Groth from UC Berkeley, NVIDIA chips can often be sold for prices that significantly exceed their domestic retail value. For example, a compute system priced at $550,000 could command upwards of $1 million when sold overseas.

A Trend of Increasing Heists

The theft of high-value NVIDIA products is not an isolated incident; similar occurrences have been noted in the past. For instance, last year, law enforcement in Fremont and Union City dealt with thefts involving NVIDIA equipment worth more than $7.5 million. Additionally, reports emerged of an incident in Sao Paulo, Brazil, where two pallets of ZOTAC RTX 5090 graphics cards were stolen from an airport, with one unit later appearing for sale online.

In 2021, another high-profile theft involved a truckload of EVGA graphics cards in California. The recurring nature of these high-stakes heists suggests that such shipments will continue to be prime targets for professional theft crews.