Shares plunge as firm says H20 chip, designed for Chinese market to comply with controls, now needs special licence
Nvidia has said it expects a $5.5bn (£4.1bn) hit after Donald Trump’s administration barred the chip designer from selling crucial artificial intelligence chips in China, sending shares in one of the US’s most valuable companies plunging in after-hours trading.
The company said in an official filing late on Tuesday that its H20 AI chip, which was designed specifically for the Chinese market, to comply with export controls, would now require a special licence to sell there for the “indefinite future”.
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