(KRON) -- Police are reportedly investigating the theft of millions of dollars worth of Nvidia chips in Oakland. According to a report in the East Bay Times, "sophisticated thieves" made off with six pallets of chips, valued at $11.4 million. The pallets were reportedly to be shipped to Fort Worth, Texas. According to the Times, the pallets were picked up as planned by a truck labeled with a food transportation company logo. However, somewhere along the way, the truck and its drivers "simply fell off the grid" while headed south. As chip stocks plummet, Apple quietly trims AI budget for employees Police reportedly attempted to trace the truck, but lost track of it in San Bernardino County. The pallets were picked up back on Aug. 29, but the theft wasn't reported or realized until early September. Before the truck vanished, it reportedly made "several multi-hour stops." No arrests have been announced in the truck's disappearance. Based in Santa Clara, Nvidia is one of several companies tied to the AI trade that's seen its stock values plummet in the wake of Tuesday's midterm elections. ...read more read less