US restricts exports of Nvidia AI chips to Middle East

News Snapshot:

The US has expanded the restriction of exports of Nvidia artificial intelligence chips beyond China to some countries in the Middle East. Nvidia, which is one of the world’s most valuable companies at $1.2tn, said in a regulatory filing this week the curbs affected its A100 and H100 chips, which are used to accelerate machine-learning tasks on major artificial intelligence apps, such as ChatGPT. The firm said the controls would not have an “immediate material impact” on its results. It did not say which countries in the Middle East were affected by these restrictions. Nvidia’s rival in the sector, AMD,...