China asks tech companies to buy less of Nvidia chips

Nvidia Corp (NASDAQ: NVDA) is in focus today following a report that China has asked its tech companies to prefer local AI chips. Are you looking for signals & alerts from pro-traders? Sign-up to Invezz Signals™ for FREE. Takes 2 mins.Why does it matter for Nvidia stock?Copy link to sectionThe news is significant for the semiconductor behemoth as its H20, L20, and L2 chips are tailor made for China.  Peers that may also take a beating as Beijing pushes further to phase out foreign-made AI chips include Adva ...