Nvidia(US:NVDA) 是说芯语·2025-06-13 00:44Core Viewpoint - The article discusses the impact of U.S. export controls on Nvidia's business, particularly in the Chinese market, highlighting the company's cautious outlook and potential revenue losses due to these restrictions [1][2]. Group 1: U.S. Export Controls - Nvidia's CEO, Jensen Huang, does not expect the U.S. to lift export controls, indicating that any change would be a significant surprise [1] - Huang criticized the export controls, stating that their objectives have not been met and should be clearly defined and time-tested [1] - Analyst Gil Luria from D.A. Davidson suggests that if Nvidia cannot resume sales in China after the next quarter, expectations for 2026 may be revised downward [1] Group 2: Financial Impact - Nvidia reported a loss of $2.5 billion in sales due to export restrictions in the first quarter, with an anticipated loss of $8 billion in the second quarter [1] - The company is currently evaluating its "limited market options" in China, having been effectively excluded from the $50 billion data center market until new product designs are approved by the U.S. government [1] - In the first quarter, Nvidia's H20 sales revenue was $4.6 billion, with Chinese business accounting for 12.5% of total revenue, driven by pre-emptive stockpiling by customers before the implementation of export controls [2]