Summary
Nvidia's CEO, Jensen Huang, expressed disappointment after reports that China instructed its top technology companies to stop purchasing Nvidia's AI chips. This follows Nvidia's history of facing restrictions on selling its advanced chips to China. The move is part of ongoing geopolitical tensions between China and the United States.
Key Facts
- Nvidia's CEO, Jensen Huang, expressed disappointment over China's reported order to stop buying Nvidia's AI chips.
- China's Cyberspace Administration reportedly instructed tech companies to halt the use of Nvidia chips tailored for the Chinese market.
- Nvidia previously faced a ban on selling advanced chips to China, which was temporarily lifted in July.
- Nvidia is required to pay 15% of its Chinese revenues to the U.S. government due to a deal made in the summer.
- The news of the ban caused Nvidia’s shares to drop by more than 1% in premarket trading.
- Nvidia's chips are crucial for the AI industry, powering data centers worldwide.
- China is developing its own chips to compete with the U.S. in the AI sector.
- Nvidia was the first company to reach a valuation of $4 trillion.
