Nvidia takes a $5.5B hit following an AI chip export ban

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Nvidia takes a $5.5B hit following an AI chip export ban

Nvidia announced it will incur $5.5 billion in charges after the US government restricted exports of its H20 AI chips to China. The American company experienced a drop in shares, similar to AMD, which is also facing difficulties from the same embargo regarding its MI308 chip.



The US Commerce Department is "committed to acting on the President's directive to safeguard our national and economic security," stated a spokesperson for the department that oversees US export controls.

The H20 the AI chip in Nvidia's portfolio, designed for clients in China, where the AI industry is booming....

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