Overview

• CEO Jensen Huang told investors that future financial guidance will exclude all China business due to strict export licensing requirements.
• US export controls blocked shipments of Nvidia’s H20 cards to China, leading to a $2.5 billion revenue shortfall and a $4.5 billion inventory charge.
• The Commerce Department recently revoked a diffusion cap on chip sales and imposed new licenses for semiconductor design tools sold to China.
• Huang warns that export limits risk accelerating China’s own chipmaking efforts, a view echoed by Huawei’s Ren Zhengfei about domestic chip performance gaps.
• Analysts and US security experts say a looming trade framework could ease some technology curbs and reopen China’s market to American chip firms.