Updated at 8:48 am EST
NVIDIANVDAShares rose on Thursday following reports that the technology group is set to unveil a new series of ai chips, designed for customers in China, that will comply with new export rules imposed by the US government.
The Financial Times reported that Nvidia could announce the launch of the new chips, called HGX H20, L20 PCIe and L2 PCIe, next week, following the acceleration of restrictions on high-tech exports by US companies to based customers. in China. last month by Secretary of Commerce Gina Raimondo.
China’s Star Market Daily, a media group linked to the state-backed STAR Market, the Chinese equivalent of Nasdaq, also reported on Nvidia’s chip plans.
The new restrictions, which expand on new export rules implemented last year, are designed to limit China’s access to “advanced semiconductors that could drive advances in artificial intelligence and sophisticated computers that are critical for (Chinese) military applications,” Raimondo said.
The rules also address a loophole in previous restrictions, which allowed Nvidia to sell its A800 and H800 semiconductors, by focusing on overall performance rather than the computing power of individual chips.
Nvidia CEO Jensen Huang told the Financial Times last spring that the United States risked “enormous damage” to its technology sector as a result of China’s tighter restrictions, saying the new rules would “cut off the Knee-High Chips Law.”
“If China can’t buy from the United States, they will just build it themselves,” Huang told the newspaper. “So the United States has to be careful. China is a very important market for the technology industry.”
However, Nvidia noted in a filing with the Securities and Exchange Commission in October that “given global demand for our products, we do not expect a significant near-term impact on our financial results” as a result of the new US restrictions.
Nvidia shares rose 2% in premarket trading to indicate an opening price of $475.15 each.
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