Nvidia CFO Expects No Significant Impact From Latest US Embargo
Portfolio Pulse from Anusuya Lahiri
Nvidia Corp (NVDA) and other chipmakers' stocks fell amid reports of the U.S. adopting a stricter stance over China's AI ambitions. The U.S. plans to tighten export controls to restrict sales of some AI chips to China. Nvidia's CFO expects no significant impact on its earnings from the embargo. China accounts for 20%-25% of Nvidia's data center sales.
June 28, 2023 | 4:38 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Nvidia's stock fell amid stricter U.S. export controls on AI chips to China. However, the CFO expects no significant impact on earnings.
The news of stricter U.S. export controls on AI chips to China caused a drop in Nvidia's stock. However, the CFO's statement that he expects no significant impact on earnings from the embargo may mitigate the negative impact.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100