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Nvidia Stock Jumps On Report Of New Chip Designed for China Market That Meets U.S. Export Rules

Nvidia Corp.  (NVDA)  shares moved firmly higher Tuesday following a report suggesting the chipmaker had developed a new semiconductor it could sell to customers in China without violating new U.S. export restrictions.

The report from Reuters, later confirmed by the company, said the advanced A800 graphics processing unit (GPU) could be used in place of A100 chips made by Nvidia that are currently on the list of technologies banned from sale in China by the U.S. government.

Nvidia said in Securities and Exchange Commission filing in September that the new restrictions on the sale of its A100 and forthcoming H100 chips, which are also incorporated in other Nvidia-designed data center products, could put around $400 million sales — around 11% of expected data center revenues — at risk if its clients wouldn’t purchase alternative products.

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