NVDA Q3 Earnings Alert: Why our AI stock picker is still holding Nvidia stockRead More

Nvidia falls as Beijing discourages local companies from buying Nvidia chips - BBG

Published 09/27/2024, 03:03 PM
© Reuters
NVDA
-

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.

NVIDIA Corporation (NASDAQ:NVDA) fell 3% in recent trading.

Chinese regulators have been discouraging companies from purchasing Nvidia’s H20 chips, which are used to develop and deploy AI models, the sources told Bloomberg. 

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.

Nvidia declined Bloomberg's request for comment. The China’s Ministry of Commerce, Ministry of Information and Technology, and Cyberspace Administration didn’t respond to Bloomberg's faxed requests for comment. 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.