Nvidia Warns of $5.5 Billion Charge on New China Export Curbs; Stock Drops
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Nvidia said it would record a $5.5 billion charge on its quarterly earnings and disclosed that the U.S. will now require a license for exporting the company's H20 processors to China and other countries. Nvidia shares fell around 7% early Wednesday. The company had designed the H20 chips to enable sales of artificial-intelligence processors to China that were allowed under U.S. export controls.
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