This article was first published in Gurufocus.
September 17th -NVIDIA (NASDAQ: NVDA) fell almost 3% on Wednesday as Chinese regulators reportedly ordered major tech companies to stop purchasing one of the latest artificial intelligence processors.
China's Cyberspace Management has told businesses, including Alibaba (NYSE: BABA) to stop testing and ordering the RTX Pro 6000D, reported that the Financial Times cited people familiar with the issue. The chip was specifically designed for the Chinese market and was introduced in July.
The move is another set of Nvidia's ambitions in the world's second largest economy. Earlier this year, Beijing gave caution regarding the use of H20 semiconductors. Nvidia has already ruled out sales to China from its financial outlook.
Jensen Fan's chief executive said at an event in London on Wednesday that Nvidia could only operate in a welcome market. He said that while there is a wider problem between Washington and Beijing, the company remains patient.
Nvidia declined to comment on the reported restrictions. According to the report, Alibaba and Bytedance did not respond immediately to requests for comment.
