Nvidia Stock Falls After US Restricts Chip Sales to Russia and China

    Author Stas SerfesPosted on Format VideoCategories Investing NewsTags , , , , , , , , , ,

    We got some big news from Nvidia (NASDAQ:NVDA) recently, that’s honestly bad news.

    It’s going to hurt the business.

    They were told recently by the US government to stop selling sophisticated chips to both China and Russia.

    The US told Nvidia (NASDAQ:NVDA) recently that there’s a new license requirement for them to be able to export to China, including Hong Kong as well and this restriction’s going to affect their A100 and their H100 products.

    Nvidia Predicts Large Loss for the Quarter

    And now Nvidia’s forecasting they could lose about $400 million in the quarter from now not being able to sell to China and that’s going to affect their previous forecast of $5.9 billion for the quarter.

    In recent years, the United States has really been increasing its restrictions on exports to China due to the fears of maybe the Chinese military using these products against the United States.

    Things like that, right?

    And Nvidia (NASDAQ:NVDA) stock’s down over 11% on the day and down over 62% from all-time highs.

    This is bad. Follow along for more.

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    Author Stas Serfes
    About the author: Stas Serfes is a stock market investor/trader who owns Strive Smart LLC, a media company that’s amassed millions of views across multiple platforms. Upon graduating college, he realized he wanted to take the entrepreneurial route and create his own path. In 2017 Stas started his Youtube channel “Stas Serfes” where he began creating content on his experiences in the stock market and what he’s learned. This stemmed from his passion about money, business, stocks, and personal finance.