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Nvidia stock falls as China reportedly restricts imports of H200 chips
Nvidia (NVDA) stock sank roughly 2% in early trading Wednesday after Reuters reported that Chinese authorities have instructed customs agents to ban the tech giant's H200 AI chips from entering the country.
The drop in share price outpaced the tech-heavy Nasdaq Composite's (^IXIC) 1% decline as stocks slid across the board.
The US formally approved H200 exports to China with some conditions on Tuesday.
Citing people briefed on the matter, Reuters also reported that Chinese government officials instructed domestic tech firms not to purchase H200 chips unless necessary. Nvidia did not immediately respond to a request for comment on the report.
The drop in share price outpaced the tech-heavy Nasdaq Composite's (^IXIC) 1% decline as stocks slid across the board.
The US formally approved H200 exports to China with some conditions on Tuesday.
Citing people briefed on the matter, Reuters also reported that Chinese government officials instructed domestic tech firms not to purchase H200 chips unless necessary. Nvidia did not immediately respond to a request for comment on the report.
https://www.aol.com/finance/nvidia-stock-falls-china-reportedly-155203064.html
2 replies
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= new reply since forum marked as read
This is what you get for cozying up to dictators, and you deserve it. 