Nvidia Gets Hit by China Threat. Time to Buy the Dip?
Shares of Nvidia (NASDAQ: NVDA) were pulling back today as investors responded to a new threat facing the AI superstar.Just weeks after the company disclosed a write-off of as much as $5.5 billion due to new rules preventing exports of its H20 chips that were specifically designed for China, Nvidia now appears to be facing new competition out of China as Chinese tech giant Huawei is reportedly set to launch a new AI chip.As a result, Nvidia stock was down 2.6% as of 3:21 p.m. ET.Continue reading
Shares of Nvidia (NASDAQ: NVDA) were pulling back today as investors responded to a new threat facing the AI superstar.
Just weeks after the company disclosed a write-off of as much as $5.5 billion due to new rules preventing exports of its H20 chips that were specifically designed for China, Nvidia now appears to be facing new competition out of China as Chinese tech giant Huawei is reportedly set to launch a new AI chip.
As a result, Nvidia stock was down 2.6% as of 3:21 p.m. ET.
