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NVIDIA's Market Value Evaporates $1.3 Trillion Overnight: U.S. to Tighten Chip Exports to China
April 21 news, U.S. local time on April 16, the three major indexes of U.S. stocks closed sharply lower, the Nasdaq fell 3.07%, the Dow fell 1.73%, the S&P 500 index fell 2.24%.
April 21 news, U.S. local time on April 16, the three major indexes of U.S. stocks closed sharply lower, the Nasdaq fell 3.07%, the Dow fell 1.73%, the S&P 500 index fell 2.24%.
Large technology stocks fell collectively, Nvidia shares plummeted 6.9%, market value evaporated $1,881 (about RMB 1.37 trillion) overnight, Tesla fell more than 4%, Apple, Meta, Microsoft fell more than 3%, Amazon, Google fell more than 2%.
NVIDIA's plunge has to do with the U.S. policy of tightly regulating chip exports to China, an issue on which Trump has repeatedly jumped across the board, much to Jen-Hsun Huang's bemusement.
NVIDIA Corp. said Tuesday that the U.S. government is controlling exports of its H20 chips to some countries and regions, severely weakening a product line that was originally designed in response to previous export controls.
NVIDIA said in a regulatory filing that the U.S. government had notified the company on Monday that it would need to apply for licences ‘indefinitely’ for future exports of H20 chips to some countries. The government said the new rules were intended to address concerns that the chips ‘may be used or diverted to supercomputers in other countries.
NVIDIA warned that it would take a charge of about $5.5 billion in the first quarter of the current fiscal year related to ‘inventory, purchase commitments and related reserves’ associated with the H20 series of chips.
NVIDIA has said that further tightening of export controls will only strengthen the resolve of other countries to get rid of their dependence on US technology and will weaken the competitiveness of US companies.
Time:2025-04-21
Time:2025-04-21
Time:2025-04-21
Time:2025-04-21
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