News Formal

Nvidia tumbles, leading chip stocks lower, on new US-China export restrictions

  • 📰 startelegram
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 63%

Business News News

The U.S. tightened the rules that ban the export of key AI technologies to China, sending chip stocks sharply lower in early trading.

shares led U.S. chipmakers lower in early Tuesday trading after Trade Secretary Gina Raimondo unveiled expanded restrictions on the sale of advanced technologies to China.

The rules also address a loophole in the previous restrictions, which allowed Nvidia to sell its A800 and H800 semiconductors, by focusing on overall performance as opposed to the computing power of individual chips. "If China can’t buy from the United States, they’ll just build it themselves," Huang told the paper."So the US has to be careful. China is a very important market for the technology industry.”

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 248. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Netflix and Nvidia have been crossed off this firm's list for quality stocks.Critical information for the U.S. trading day
Source: MarketWatch - 🏆 3. / 97 Read more »