Nvidia Records $5.5 Billion Charge on New H20 Export Restrictions
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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 more than 6% in after-hours trading. The H20 chips have far less processing power than the latest top-of-the-line Nvidia processors.