California-based semiconductor maker Nvidia has been given some relief from the U.S. government after being told to stop exporting two of its top computing chips to China.
Then on Thursday, the company filed an amended disclosure saying that the government had provided some reprieve by agreeing to allow the exports necessary to continue the development of the H100 through March 1 of next year, and authorized Nvidia to continue any exports needed to provide support for U.S. customers of the A100 until the same date.
The share decline offered a buying opportunity for Cathie Wood. The CEO and CIO of Ark Invest sold shares of Tesla to buy Nvidia, Barron's reported. Jefferies analyst Mark Lipacis told Barron's the selloff was an "overreaction". Needham analyst Rajvindra Gill had a different view, calling the license a "significant headwind" for the company.The U.S. also agreed to allow Nvidia to fulfill orders through its Hong Kong facility through Sept. 1, 2023, meaning the company can ship outside China.
The logo of Nvidia Corporation is seen during the annual Computex computer exhibition in Taipei, Taiwan May 30, 2017. "We are working with our customers in China to satisfy their planned or future purchases with alternative products and may seek licenses where replacements aren’t sufficient," a Nvidia spokesperson told
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