US export restrictions could cost Nvidia $5 billion in lost orders, sends share price to 5-month low

News Snapshot:

What just happened? Nvidia's incredible year in which it became a trillion-dollar company took a rare stumble yesterday when Team Green's share price dipped almost 5%. The decline came on the back of a report that new US restrictions on the export of AI-focused chips to China could see up to $5 billion worth of Nvidia orders canceled. In late October, the Department Bureau of Industry and Security (BIS) further tightened export restrictions on AI accelerators to China and other countries of concern, including Saudi Arabia, Russia, Iran, the United Arab Emirates, and Vietnam. Restrictions on communication speeds, limited to...