Chip wreck: Nvidia sinks sector after U.S. restricts China sales Newsachieve.com


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Register now and get FREE unlimited access to Reuters.comregisterSep 1 (Reuters) - U.S. chipmaker stocks tumbled on Thursday, with the major semiconductor index slipping more than 3% after Nvidia (NVDA.O) and Advanced Micro Devices (AMD.O) said officials The US ordered them to stop exporting advanced technology. processors for artificial intelligence in China.Shares of Nvidia fell 11%, the biggest one-day percentage drop since 2020, while shares of smaller competitor AMD fell almost 6%.As of noon, the market value of Nvidia shares has evaporated to the tune of about $40 billion. The 30 companies that make up the Philadelphia Semiconductor Index (.SOX)...