Nvidia is likely to lose more than $10 billion in revenue from President Donald Trump’s decision to ban sales of the company’s H20 chips to China.
The U.S. government effectively banned those sales in April by tightening export licensing requirements.
Late Wednesday, Nvidia said the H20 restrictions cost the company $2.5 billion in sales in its fiscal first quarter. It projects an $8 billion hit to revenue in the current second quarter, bringing the six-month revenue loss to $10.5 billion.
Latest News
- This Terrific Dividend Stock Is Spending $5.6 Billion to Add Even More Fuel to Its Dividend Growth Engine
- Class of 2025: Here are tips for landing your first job and forming good money habits
- Failed Sotheby’s auction of $70M bust leaves art insiders speechless — are collectibles no longer covetable?
- Best Stock to Buy Right Now: Apple vs. Chipotle
- My mom died and left me 10 times as much as I expected, and I'm a little lost on how best to manage it
- NYC man lost $114,000 — his entire 401(k) — after his physical check from Paychex was stolen and cashed
