Nvidia failed to warn customers about new U.S. export rules for H20 chip sales to China, resulting in a $5.5 billion charge. Chinese tech giants have been stocking up on chips, driving demand. Despite this, analysts remain optimistic about Nvidia's investments in AI and its plans to develop $500 billion in infrastructure. NVDA stock is down 6.35% at $105.11.
Hongkong Post on Wednesday announced the suspension of its postal services for parcels containing goods to the United States, citing what it describes as "bullying" and "unreasonable" actions by the U.S. government regarding new tariffs and postal fees.
Major Chinese companies trading lower due to Trump's increased tariffs. China's GDP grew in Q1 but trade war dims outlook and prompts calls for stimulus.
Nvidia Corp. (NASDAQ: NVDA) has reportedly not communicated to some of its major Chinese customers about the new U.S. export rules affecting its AI chip.
Nvidia will take a $5.5 billion charge due to U.S. export restrictions on AI chips to China, but analyst Dan Ives says the long-term AI demand story remains strong despite rising geopolitical tensions.
Alibaba shares are trading higher on Monday after President Donald Trump and his administration announced consumer electronics are exempt from the 145% reciprocal tariffs on Chinese goods.
Alibaba's AI app Quark surpassed ByteDance's Doubao to become the most popular in China with 150M monthly active users. Alibaba's cloud unit also expands its AI platform.
