The Clap
Nvidia, a leading manufacturer of high-end graphics processing units (GPUs), has been ordered by the U.S. government to suspend sales to China & Russia.
The Deets
The U.S. government has grown increasingly fearful that U.S.-manufactured chips sold overseas would be used for military use.
So What?
Nvidia expects to miss out on some $400 million in sales due to the restriction on China sales, but doesn’t see any impact regarding the Russia ban.
Nvidia’s stock price fell 6.5% in extended trading following the news.
Now What?
Nvidia will be applying for a license that allows it to export to China, but is uncertain if it will receive this exempting license.
Nvidia dealt a big blow 💻
