Trending : Nvidia Expects Sales Hit From U.S. Licensing Rule
10:28 ET -- Nvidia Corp. is one of the most talked about companies in the U.S. across all news items in the last 12 hours, according to Factiva data, after the chip maker forecast a hit to sales... | September 1, 2022
NVDA
10:28 ET -- Nvidia Corp. is one of the most talked about companies in the U.S. across all news items in the last 12 hours, according to Factiva data, after the chip maker forecast a hit to sales from a U.S. licensing rule. In a regulatory filing, Nvidia says it could lose as much as $400 million in quarterly sales after the U.S. imposed new licensing requirements on shipments of some of its most advanced chips to China. The company says it was in talks with Chinese customers to fulfill planned purchases with other products and may seek licenses from the government if the replacements weren't sufficient. The U.S. Commerce Department says it taking action to protect U.S. national security. The new rule is weighing on Nvidia's shares, which were down 8.6% in morning trading, widening the year-to-date drop to 53%. Dow Jones & Co. owns Factiva. ([email protected])
(END) Dow Jones Newswires
09-01-22 1043ET