Nvidia stock tumbles on a report the chip titan could face tighter regulation in China [Yahoo! Finance]
NVIDIA Corporation (NVDA)
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Source: Yahoo! Finance
This could damage Nvidia's business. China makes up 13% of total annual sales, the FT said. The move: Nvidia sank 4.54% Wednesday morning, dropping to $115 per share by 10:35 a.m. ET. The flagship semiconductor firm is down 14.24% this year. Why: A report from the Financial Times says the chipmaker is at risk of losing business in China, which accounts for $17.1 billion in annual revenue for the company. The threat has arisen after Beijing introduced new energy efficiency rules that would effectively remove a best-selling Nvidia processor from the Chinese market. The FT reported that the government was encouraging Chinese groups to build data centers with chips that meet tighter energy requirements not satisfied by Nvidia's technology. It
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