Nvidia has had a good week. Blockbuster earnings led to a share surge that values the company at $1.9 trillion, making it the third most valuable U.S. company ahead of Alphabet and Amazon. CEO Jensen Huang, who said Wednesday that generative AI is at a “tipping point,” is on the cusp of breaking into the world’s top 20 richest people.
Yet in its bumper earnings report, Nvidia also warned that its business in China was dropping: The company’s data center revenue out of China was at “mid-single-digit percentage” levels, coming down from as much as 25% in earlier quarters. U.S. export restrictions are making it difficult for Nvidia to ship products to China.
China Policy Research 