Is Washington Handing China A Win With Nvidia Sales?
Nvidia (NASDAQ:NVDA) stock is taking a hit Friday as a U.S. government decision to permit the chip giant to resume sales of its H20 AI chips to China faces strong opposition from House Select Committee on China Chairman John Moolenaar. This move, seen by some as a boost to China’s AI ambitions, comes amid broader national security concerns that are also delaying a multi-billion dollar AI chip deal between the U.S. and the United Arab Emirates, highlighting the increasingly complex geopolitical landscape impacting the semiconductor industry.Moolenaar warned Commerce Secretary Howard Lutnick that the move could boost China’s AI capabilities and help its firms gain global market share, Reuters reported on Friday.Also Read: Nvidia’s Jensen Huang Says China Leads In Open-Source AIIn a letter sent Friday, Moolenaar criticized the reversal of the April export ban, which aimed to keep cutting-edge U.S. AI chips out of Chinese hands due to national security risks.Nvidia confirmed ...Full story available on Benzinga.com
