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.