Nvidia (NVDA) shares slumped over 5% in after-hours activity late Tuesday after the company said it expects a $5.50 billion charge in fiscal Q1 linked to its H20 product line after the US government mandated it to secure an export license for China, Hong Kong, Macau, and D5 countries.
The government signaled that the license is to mitigate the risks of certain Nvidia products being utilized in a supercomputer in China, the company said.
On April 14, the government imposed the license requirement for the indefinite future, it added.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments