Nvidia expects to take $5.5bn hit as US tightens AI chip export guidelines to China

Nvidia has stated it expects a $5.5bn (£4.1bn) hit after Donald Trump’s administration barred the chip designer from promoting essential synthetic intelligence chips in China, sending shares in one of many US’s Most worthy corporations plunging in after-hours buying and selling. The corporate stated in an official submitting late on Tuesday that its H20 AI chip, which was designed particularly for the Chinese language market to adjust to export controls, would now require a particular licence to promote there for the “indefinite future”. The US authorities, which is battling China within the race for AI supremacy, informed Nvidia the brand new guidelines have been designed…