NVIDIA COULD TAKE MULTIBILLION DOLLAR HIT IN REVENUE DUE TO NEW CHIP SANCTIONS ON CHINA

Shares of U.S. chipmakers like Nvidia fall as the Biden administration tries to curb their export to China. The recently booming company could reportedly take a multibillion dollar hit to their revenue. Last year, U.S. officials had ordered Nvidia to stop exporting its top two AI chips to China to limit the country's technological capability.