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Fortune

Lionel Lim

Nvidia takes a $5.5 billion hit from a new Trump ban that could also hasten China’s push to make its own chips

Nvidia Donald Trump China United States AMD

(Credit: Justin Sullivan—Getty Images)

Nvidia, the company most closely connected to the AI boom, once again finds itself in the middle of the U.S.’s tech rivalry with China.

The chipmaker’s shares dropped almost 7% in post-market trading after the company revealed it could no longer export its H20 chips to Chinese customers. In a securities filing, the chipmaker said that it would take a $5.5 billion charge owing to the export ban.

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Trump casts his midterm ballot early in Florida

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