Stocks dragged down by financials and hyperscalers
Sherwood News • • business
Key Points:
- The U.S. Department of Commerce updated export license policies, allowing Nvidia and other semiconductor companies to ship certain advanced AI chips, including Nvidia’s H200, to China under specific conditions such as availability in the U.S. and shipment limits to China not exceeding 50% of U.S. end use.
- Despite former President Trump’s earlier suggestion that 25% of proceeds from H200 chip sales to China would go to the U.S. government, the current export rule does not include such a provision.
- Chinese buyers have placed orders for over 2 million H200 chips, potentially creating a $54 billion market for Nvidia, though China’s willingness to import large quantities amid efforts to develop domestic chip production remains uncertain.
- Reports indicate that
