The Biden administration has announced a new ban on high-end chip exports to China. Chip giant NVIDIA has also come under this ban. This ban will also apply to AMD and Intel. News BBC.
Share prices of various US chip companies fell in the market immediately after the announcement of the Biden administration.
According to analysts, NVIDIA will suffer the most. Because 25 percent of the company’s overall revenue comes from China. NVIDIA’s share price fell 4.7 percent shortly after the new ban was announced.
The new ban is aimed at closing several loopholes in the US ban on chip exports last October. The ban is designed to block China’s military from importing high-quality chips.