Bernstein says the U.S. government’s new export restrictions on Nvidia’s high-end AI products to China could have a lasting negative impact on its business. Read More...
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Tesla Stock Takes Hit From Nvidia’s Warning About Business With China
Chip giant Nvidia (ticker: NVDA) on Wednesday told investors in a filing with the Securities and Exchange commission that the U.S. government had imposed new licensing requirements on some of its advanced chips. The government “indicated that the new license requirement will address the risk that the covered products may be used in, or diverted to, a ‘military end use’ or ‘military end user’ in China and Russia,” read part of the filing. Nvidia added it doesn’t sell to customers in Russia, but $400 million in third quarter sales destined for China could be impacted.
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