Nvidia(US:NVDA) Xin Lang Cai Jing·2025-04-17 08:25Core Viewpoint - Nvidia is a key player in the global technology industry, particularly in the AI chip sector, but has faced significant challenges due to unpredictable U.S. government policies, particularly under the Trump administration [1][3]. Group 1: Impact of U.S. Government Policies - On April 15, Nvidia announced that the U.S. government required a license for the export of its H20 chip to China, which will indefinitely affect approximately $5.5 billion in quarterly expenses related to inventory and procurement commitments [1]. - Following the announcement, Nvidia's stock price dropped over 6% in after-hours trading, resulting in a market value loss of approximately $130 billion [1]. - The rapid policy changes have led to skepticism regarding the stability of Nvidia's market position and the potential manipulation of stock prices by the Trump administration [3]. Group 2: Financial Projections and Revenue Impact - Bloomberg estimates that Nvidia's revenue for 2025 could decrease by $14 billion to $18 billion due to these policy changes [4]. - The H20 chip, while not as powerful as Nvidia's flagship AI chips, is crucial for maintaining market share in China, projected to generate $12 billion to $15 billion in revenue in 2024 [5]. Group 3: Broader Industry Implications - The erratic U.S. policies not only harm Nvidia but also disrupt the global semiconductor supply chain, which relies on international collaboration for technological advancement [7]. - Companies like Nvidia are forced to invest resources into developing specialized chips to comply with U.S. regulations, which diverts innovation efforts and increases operational costs [7]. - The situation underscores the importance for global companies to be aware of geopolitical risks and to seek diversified and self-sustaining development paths [8].