Six pallets of Nvidia hardware reportedly worth $11.4 million vanish

By Rebecca Stone

On Aug. 29, a truck collected six pallets of Nvidia hardware reportedly worth $11.4 million in Oakland for delivery to Fort Worth, Texas. The load never arrived.

Oakland police are investigating the missing shipment as a grand theft. In a statement to FreightWaves, the Oakland Police Department said it is “investigating a grand theft that occurred in East Oakland.”

The victim reported the loss on Sept. 13, about two weeks after the pickup. That date marks the police report, not necessarily the theft itself; the published accounts do not establish when or where the cargo left the carrier’s custody.

What happened after the Oakland pickup?

The Mercury News, as cited by FreightWaves, reported that the truck collecting the pallets displayed a food transportation company’s logo. The driver headed south and made several stops lasting hours.

KTVU, citing court records, reported that investigators lost track of the truck in San Bernardino County. That leaves a specific interval in the shipment’s movement unresolved, while the public record does not identify the owner, shipper, carrier or driver.

The logo identifies an apparent connection to food transportation, but it does not by itself establish which company owned or operated the truck. Likewise, Fort Worth identifies the intended destination without naming a consignee, customer or receiving facility.

What has police confirmed?

Oakland police have not confirmed the reported $11.4 million valuation, identified the missing Nvidia products or explained how the theft occurred. No Nvidia product family or model appears in the published accounts.

That makes $11.4 million a reported cargo value rather than a police-verified loss figure. Nvidia did not respond to FreightWaves’ requests for comment, leaving the account without company confirmation of either the amount or the hardware’s identity.

The reported account also identifies no production disruption, capacity change or wider product-availability problem. The owner, shipper, carrier and driver remain unnamed, and police have announced no arrests.

Is this part of a wider theft pattern?

According to KTVU, police in Fremont and Union City investigated 2025 burglaries of Nvidia products worth more than $7.5 million. Those burglaries differed from the Oakland case in kind: they involved theft from premises rather than a carrier pickup.

At its reported value, the Oakland load would exceed the $7.5 million threshold associated with the earlier burglaries. The comparison has limits because the Oakland valuation remains unverified, and neither FreightWaves nor KTVU has linked the cases.

The wider cargo picture is broader still. KTVU reported nearly 700 cargo thefts across the United States and Canada in the second quarter of this year. That count covers cargo generally and does not identify Nvidia hardware as the target in those incidents.

Two facts, not one pattern. The reporting documents previous thefts of high-value Nvidia products alongside substantial cargo theft across North American logistics, but it establishes no coordinated network connecting them.

What does the theft mean commercially?

For Nvidia, the missing hardware’s unspecified identity prevents any defensible connection to a particular business line, customer or revenue stream. No financial impact has been quantified, and the published account offers no evidence of a production or capacity effect.

For the logistics chain, the unanswered questions are more concrete: who owned the pallets, which company collected them, which driver took the southbound route and why investigators lost the truck in San Bernardino County. Those answers are needed to reconstruct the shipment’s movement and responsibility; the source does not establish how the theft happened.

For now, the $11.4 million is the scale of the theft claim, not a confirmed Nvidia financial loss, shipment-revenue figure or production-capacity change. The next material disclosures will be the cargo identity, carrier and any arrests; until then, the separate theft statistics cannot support conclusions about Nvidia’s sales, pricing or competitive position.