Key Points in This Article: Nvidia's (NVDA) $4.27 trillion market cap leads the S&P 500, where the top 10 stocks account for 40% of its value.
Jitters have been fueled by the flop of the latest ChatGPT rollout, possible layoffs at Meta's AI unit and even an MIT study raising doubts about the potential of AI to goose corporate profits. And there's another big worry lurking: the threat of dire electricity shortages.
Nvidia (NVDA) reportedly has told suppliers to suspend production of its H20 chip, after Beijing asked local firms to avoid using the chip tailored for the Chinese market due to security concerns.
A wobble in U.S. technology shares has raised the stakes for Nvidia Corp's quarterly results on Wednesday, with earnings from the semiconductor giant posing a crucial test for the scorching AI trade.
Nvidia is reportedly working on a new chip for the China dubbed the B30A, which will be more advanced than the H20. The company's CEO Jensen Huang said he is in "dialogue" with the U.S. government about offering a new product to China.
Less than a week away from earnings, Nvidia continues to face concerns over the fate of its H20 chip sales to China, with a fresh report indicating potentially more trouble.
Nvidia has told component suppliers to suspend work related to its H20 chip, according to multiple reports.
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Nvidia Corp (NASDAQ:NVDA, ETR:NVD) has instructed suppliers to pause production of its H20 artificial intelligence chip, a model developed specifically for the Chinese market, according to industry reports. The company told US-based Amkor Technology, which handles advanced packaging, and South Korea's Samsung Electronics, which provides high-bandwidth memory, to suspend work on the chip this week.
Shipping Nvidia's H20 chips to China was "great" for Beijing and Washington and not a security threat, the tech giant's chief said Friday.
Nvidia CEO Jensen Huang spoke to reporters during a visit to Taiwan. "I think TSMC is one of the greatest companies in the history of humanity, and anybody who wants to buy TSMC stock is a very smart person," he said.
According to the sources cited by the Information, Nvidia sent communications regarding a pause in H20-related production to Amkor Technology and Samsung Electronics. The directive comes weeks after the Chinese government reportedly told local tech companies to stop buying the chips due to alleged security concerns.