Page 2 - Nvidia Chips News Today

Jensen Huang, president and chief executive of Nvidia, will on Monday meet representatives from the Vietnamese government and Vietnamese companies to discuss ways "to boost the semiconductor industry" in Vietnam and "Nvidias potential partnership with Vietnamese tech firms," the invitation letter to the private event said.

"Nvidia has been working very closely with the U.S. government to create products that comply with its regulations," Huang told a news conference in Singapore.

"For example, the French Competition Authority collected information from us regarding our business and competition in the graphics card and cloud service provider market as part of an ongoing inquiry into competition in those markets," Nvidia said in a regulatory filing dated Nov. 21.

Nvidia has told customers in China it is delaying the launch of a new artificial intelligence chip it designed to comply with U.S. export rules until the first quarter of next year, two sources familiar with the matter said.

Nvidia: The California-based AI chip giant had been expected to launch the new products as early as Nov. 16, chip industry newsletter SemiAnalysis reported this month.

Nvidia on Tuesday reported that its revenue more than tripled in the recently ended quarter as companies snapped up chips to power artificial intelligence (AI).

Nvidia: Last month, the U.S. AI chip giant said new export restrictions announced by Washington would block it from selling two of its modified advanced AI chips - the A800 and H800 - both of which were created for the Chinese market last year to comply with previous export rules.

Nvidias stock fell to as low as $392.30, down 4.7%, to the lowest level since mid-June. The stock, which has been one of the major drivers of this years 22% gain in the Nasdaq index, is now down nearly 20% from its record high close of $493.55 reached on Aug. 31. It was last down 2.09%.

Nvidia does not expect a near-term impact on its earnings from the move, it disclosed in a filing on Tuesday, but did not say why the U.S. government had accelerated the timing.

Huaweis Ascend AI chips are comparable to Nvidias in terms of raw computing power, analysts and some AI firms such as Chinas iFlyTek say, but they still lag behind in performance.