The performance of the chip industry was marred last year in the face of macroeconomic headwinds, supply chain constraints spurred by the Russia-Ukraine war, and escalating tensions between the United States and China. Last year, the United States imposed stringent restrictions on chip exports.
In September 2022, chip giant NVIDIA Corporation (NVDA) was blocked by the U.S. government from exporting two of its top computing chips, A100 and H100 graphic processing units, for artificial intelligence (AI) work to China. The company said the ban impacted $400 million in sales of the affected chips to China that could be lost if firms decide not to buy alternative NVDA products.
