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Chip Stocks Shed $73 Billion After US Curbs Nvidia Sales to China
by YourTech Story YourTechStory is all about stories of products, teIn a significant blow to the semiconductor industry, chip stocks experienced a sharp decline on Tuesday following the United States’ announcement of sweeping updates to export curbs aimed at restricting China’s access to advanced computer chips. The PHLX Semiconductor Sector index, a key indicator comprising 30 chip stocks, was poised to wipe out approximately $73 billion in combined market value.
The newly imposed restrictions specifically target Nvidia Corp., a major player in the semiconductor market. The affected chips include Nvidia’s A800 and H800 models, which were designed for the Chinese market. The updated rules mandate that companies notify the US government before selling chips that fall below the controlled threshold, a move intended to tighten control over the export of advanced semiconductor technology.
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YourTechStory is all about stories of products, te
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Created on Oct 19th 2023 00:56. Viewed 83 times.
