TECH - Nvidia Dodges US Export Restrictions Again With Launch Of Three New Chip Models Tailored For China | Benzinga
Nvidia Corp (NASDAQ:NVDA) stock is soaring after the company again confirmed its intention to dominate the Chinese chip market, albeit with increasingly severe export restrictions from the U.S. government.
Shares of the company are up 2.9% on Thursday and 9% on the week at the time of writing, as several reports unveiled a new series of AI chips that are being released to accommodate new restrictions announced by the federal government in mid-October.
The rumor was confirmed by several independent sources, including Chinastarmarket, a state-affiliated Chinese news outlet and The Financial Times, which was able to review documents distributed by Nvidia to prospective customers of the upcoming chips.
According to the Chinese source, Nvidia could share an official announcement on the new products by Thursday, Nov. 16, one week from now.
Nvidia's New Chips, Explained
Recently, Nvidia successfully capitalized on its strategic position to become a key provider of the infrastructure needed to train large language models like OpenAI's ChatGPT and Alphabet Inc.’s (NASDAQ:GOOG) (NASDAQ:GOOGL) Google Bard.
With product series such as the H100 or the A100 chips, Nvidia currently dominates the market for semiconductors needed to train AI systems, with as much as ...