We got some big news from Nvidia Corp. (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 chips to both China and Russia.
The US told Nvidia Corp. (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 Lowers Forecast for the Quarter
Now, Nvidia’s Corp. (NASDAQ:NVDA) 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.
And in recent years, the United States has really been increasing their 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 the stock’s down over 11% on the day and down over 62% from all time highs.
This is bad.
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