Chips Dip as Nvidia Slides on New Potential U.S. AI Chip Export Ban
Semiconductor stocks, however, helped keep gains in check for tech, paced by a decline in NVIDIA Corporation on worries about the impact of fresh U.S. curbs on AI chip exports to China. The Biden Administration is reportedly mulling new restrictions on exports of artificial intelligence chips to China, the Wall Street Journal reported Wednesday.
Nvidia Chief Financial Officer Colette Kress downplayed the impact of potential further U.S. action on chip exports, saying the chipmaker expected no"immediate material impact.”
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