Chip stocks drop as Nvidia, AMD warn of higher costs from China export controls

In this article AMD NVDA Follow your favorite stocks CREATE FREE ACCOUNT Nvidia CEO Jensen Huang delivers the keynote for the Nvidia GPU Technology Conference at the SAP Center in San Jose, California, on March 18, 2025. Brittany Hosea-small | Reuters Technology stocks dropped Wednesday, led by a 8% plunge in Nvidia , as the chipmaking sector signaled that President Donald Trump's sweeping tariff plans could hamper demand and growth. Nvidia revealed in a filing Tuesday that it will take a $5.5 billion charge tied to exporting its H20 graphics processing units to China and other countries and said the government will require a license to ship the chips there and other destinations. The chip was designed specifically for China use during former President Joe Biden's administration to meet U.S. export restrictions barring the sale of advanced artificial intelligence processors, which totaled an estimated $12 billion to $15 billion in revenue in 2024. Advanced Micro Devices said in a fi ... Read full article.