Nvidia falls as Beijing discourages local companies from buying Nvidia chips

Investing.com -- Nvidia fell Friday as Beijing is pressuring Chinese companies to buy artificial intelligence chips that are produced in China rather Nvidia's chips as part of an effort to boost its domestic semiconductor industry and cushion the impact of U.S. restrictions, Bloomberg report Friday, citing unnamed sources.

But the new policy isn't an outright ban on Chinese companies buying Nvidia chips but rather guidance as Chinese regulators are keen to avoid curtailing the country's AI startups and escalating tensions with the US, the sources said.

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