Nvidia Drops on Report US Plans More AI Chip Curbs for China

News Snapshot:

(Bloomberg) — Nvidia Corp. led declines in tech stocks after a report Washington could close loopholes in the sale to China of powerful chips used to train artificial intelligence, potentially denting sales in the world’s top semiconductor market. Most Read from Bloomberg Nvidia, which gets about a fifth of its revenue from China, slid as much as 3.2% in after-hours trading in New York. Rival Advanced Micro Devices Inc. fell about 3%. The two lead the market for chips vital to the development of generative AI models such as ChatGPT. In China, traders unloaded a slew of AI-related stocks, pushing...