Biden administration will restrict the export of advanced chips to China, such as Nvidia, in order to "plug loopholes."
Hawk_Finance
2023-10-18 17:43:43
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The Biden administration updated export control rules for artificial intelligence (AI) chips on October 17, planning to prevent companies such as Nvidia from exporting advanced AI chips to China.。Following the announcement, Nvidia shares plunged nearly 5%, AMD shares plunged more than 2%, and Intel shares fell 1.7%。According to the latest rules, Nvidia's chip exports to China, including A800 and H800, will be affected.。The new rules will take effect after 30 days of public consultation.。In response, Nvidia said: "We comply with all applicable regulations and strive to provide thousands of applications that support different industries.。Given the global demand for our products, we do not expect (the new regulations) to have a material impact on our financial results in the near term.。"
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