New York governor wants Trump to take action on drone attack risks
New York Governor Kathy Hochul has urged the White House to take immediate steps to address the growing threat of drone attacks on the United States, ...
Nvidia has announced it expects a $5.5 billion financial impact after new US government export restrictions barred it from selling its advanced H20 AI chips to China without a license.
US-based microchip giant Nvidia warned on Tuesday that tightened export regulations will cost the company $5.5 billion as it halts sales of its H20 artificial intelligence chips to China and Hong Kong. The company confirmed that the US government informed it last week that new rules would require an export licence for the H20, one of its most sought-after chips in the Chinese market.
The move comes amid rising trade tensions between the US and China, as both nations impose steep tariffs and tighten restrictions across strategic industries, particularly in semiconductors and AI.
Following the announcement, Nvidia’s shares plunged nearly 6% in after-hours trading. The company said the license requirement is indefinite and is aimed at addressing national security risks, particularly the potential use of the chips in Chinese supercomputers.
“This is certainly a lot of money, but it’s something Nvidia can bear,” said Marc Einstein of Counterpoint Research, adding that the situation may still shift. “I wouldn't be surprised to see some exemptions or changes made to tariff policy in the near future.”
Founded in 1993, Nvidia initially gained prominence for producing graphics chips for gaming. In recent years, it has emerged as a leading force in AI, with its chips powering machine learning models and data centers globally. The H20 chip is a centerpiece of Nvidia's strategy in the AI boom, particularly in Asia.
The $5.5 billion charge includes costs related to existing inventories, purchase commitments, and reserves for the restricted products. Nvidia did not comment further when approached by the BBC.
Rui Ma, founder of the Tech Buzz China podcast, said that continued restrictions could lead to a full decoupling of US and Chinese AI chip supply chains. “It doesn’t make any sense for any Chinese customer to be dependent on US chips,” she said, noting that China is already facing an oversupply of data centers.
The Biden administration’s move to curb technology exports is part of a broader push—also endorsed by President Donald Trump—to maintain US dominance in advanced tech sectors amid China’s growing capabilities.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
A deadly mass shooting early on Monday (7 July) in Philadelphia's Grays Ferry neighbourhood left three men dead and nine others wounded, including teenagers, as more than 100 shots were fired.
Australian researchers have created a groundbreaking “biological AI” platform that could revolutionise drug discovery by rapidly evolving molecules within mammalian cells.
Dozens of international and domestic flights were cancelled or delayed after Mount Lewotobi Laki Laki erupted on Monday, but Bali’s main airport remains operational.
French member of parliament Olivier Marleix was found dead at his home on Monday, with suicide being considered a possible cause.
New York Governor Kathy Hochul has urged the White House to take immediate steps to address the growing threat of drone attacks on the United States, citing past incidents and their increasing use in global military operations.
U.S. President Donald Trump has announced that Washington has successfully contributed to resolving the long-standing conflict between Azerbaijan and Armenia.
The Financial Stability Board (FSB), the G20’s financial regulator, has paused further climate policy work as the United States distances itself from key initiatives.
Slovak Prime Minister Robert Fico says Bratislava will only back the EU’s 18th sanctions package on Russia if it secures guarantees for future gas supplies, citing national energy interests.
European Commission Vice President Teresa Ribera called on China and the EU to reaffirm their full commitment to the Paris Agreement during climate talks in Beijing.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment