U.S. to place curbs on export of more AI chips to China
By MYBRANDBOOK
The U.S. Department of Commerce has announced its plans to prevent the sale of more advanced artificial intelligence chips to China in the coming weeks. The U.S. government says the new rules are intended to close loopholes that popped up after last year’s restrictions on AI chip exports went into effect. The new export restrictions will restrict the export of Nvidia’s A800 and H800 chips.
Soon after the announcement, shares of Nvidia closed down about 5%, while Broadcom and Marvell slipped about 2% and 1%, respectively. Shares of AMD fell more than 1%; Intel closed down about 1.4%.
The earlier restrictions banned the sale of the Nvidia H100, which is the processor of choice for AI firms in the U.S. such as OpenAI. Instead, Chinese companies were able to buy a slightly slowed-down version called the H800 or A800 that complies with U.S. restrictions, that primarily slowed down an on-device connection speed, called an interconnect.
The restrictions could also affect chips sold by Intel and AMD. Other rules will likely hamper the sale and export to China of semiconductor manufacturing equipment from companies such as Applied Materials, Lam and KLA.
The restrictions cut off a big and growing market for AI semiconductors. Besides, it could raise concerns that the Chinese government will retaliate economically against U.S. firms doing business in the country.
Nvidia seems to have anticipated the restrictions, and said in August that they would not have an immediate material effect on earnings, but might hurt over the long term.
“We comply with all applicable regulations while working to provide products that support thousands of applications across many different industries,” an Nvidia spokesperson said. “Given the demand worldwide for our products, we don’t expect a near-term meaningful impact on our financial results.”
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