On China Warning, Nvidia Stock Hits Fresh 2022 Lows, But For How Long?
The Tokenist | Sep 02, 2022 10:54AM ET
Shares of Nvidia (NASDAQ:NVDA) hit fresh year-to-date lows on Thursday after the chip-maker warned about the U.S. government limits on exports of top artificial intelligence (AI) chips to China.
In an security of Ethereum wallets has increased , the world’s second-largest digital asset is shifting to proof-of-stake (PoS) from proof-of-work (PoW) system this month, hence Nvidia’s graphic cards won’t continue to experience strong demand.
Colette Kress, Nvidia’s CFO, warned recently that the volatility in the crypto market “has in the past impacted, and can in the future impact, demand for our products and our ability to estimate it accurately.”
Summary/h2
Nvidia shares have hit an 18-month low in recent days after the company warned shareholders that it may suffer a material impact from the new U.S. government regulation on the export of top AI chips to China. The new overhand for shares comes just a few days after the chip-maker issued a disappointing sales guidance for the third quarter.
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