Page 4 - Nvidia Chips News Today : Breaking News, Live Updates & Top Stories | Vimarsana

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.

Nvidia's 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 year's 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.

Huawei's Ascend AI chips are comparable to Nvidia's in terms of raw computing power, analysts and some AI firms such as China's iFlyTek say, but they still lag behind in performance.