Chinese Chip Stocks Plunge After US Steps up Tech Export Crackdown
China's biggest chipmaker falls almost 4% thanks to fears new export controls will cut China off from semiconductors made with US tools.
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China's biggest chipmaker falls almost 4% thanks to fears new export controls will cut China off from semiconductors made with US tools.
Nvidia said the US government is requiring a new export license to address the risk of "military end use" of chip technology in China and Russia.
Slower sales of gaming products prompted Nvidia to cut its second-quarter revenue outlook to $6.7 billion from $8.1 billion.
Nvidia's earnings report showed strong revenues but it warned that tough macroeconomic conditions would reduce its sales for the current quarter.
Good mood didn’t last long as the US didn’t let the tensions de-escalate insisting that Russia is certainly not pulling back its troops but is rathe