Exports to China of the most high-tech chips. like those developed by Nvidia, will be banned without a license.
Nvidia stock fell for a second day as investors digest new U.S. export controls that will affect the chip maker’s sales to China. While analysts agree the rules aren’t likely to be a near-term drag on the company, the outlook is worse in the longer term—and that could hurt the shares.The factor hitting shares of the chip maker, which dominates in artificial intelligence, is further restrictions on the export of chips used in AI applications.
“Given the strength of demand for our products worldwide, we do not anticipate that the additional restrictions will have a near-term meaningful impact on our financial results,” Nvidia said in filings with the Securities and Exchange Commission late Tuesday. When U.S. export controls went into place last year, Nvidia was able to make a lower-performance chip for the Chinese market. Could it do the same this time?
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