Nvidia Faces Significant Sales Loss

In a startling development, Nvidia, a global powerhouse in artificial intelligence, saw its shares plummet by over 7% in premarket trading. This dramatic drop comes in the wake of the company's announcement regarding a projected $5.5 billion loss, attributed to new US tariff restrictions on high-end chip exports to China.

SEC Filing Reveals Impact of Export Restrictions

A recent filing with the US Securities and Exchange Commission (SEC) has shed light on the anticipated financial fallout from Washington's decision to limit the sale of advanced US chips, including the H20, to China. This move has directly impacted Nvidia's bottom line, with shares falling to $112.20 by 4:10 am ET.