Quote:Nvidia (NVDA) stock sank nearly 7% Wednesday after the AI chipmaker disclosed that it would take a $5.5 billion hit from the US government's surprise new controls on its semiconductor exports to China.
Nvidia said in a regulatory filing late Tuesday night that the US government informed the company it would require a special license for exports of its H20 chips made specifically for the Chinese market to comply with US trade rules.
Notably, no licenses for GPU shipments into China have ever been granted, given the US government's concern that the chips could be used to build AI supercomputers in the country, Jefferies analyst Blayne Curtis wrote in an analysis following the news that the latest rule is effectively a ban.
https://finance.yahoo.com/news/nvidia-st...19576.html
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