Nvidia to Record $5.5B Charge as US Cracks Down on Chip Exports to China
1. Nvidia faces a $5.5 billion charge due to U.S. export restrictions. 2. U.S. limits aim to prevent AI chip use in Chinese supercomputers. 3. Nvidia's revenue from China dropped to 10%, projected to reach zero. 4. Shares fell about 6% in premarket trading following the news. 5. AMD also affected by similar export controls, shares down 6%.