Nvidia Allowed To Export As Transfers Needed To Develop Its AI Chip

Nvidia Corp said on Thursday that the U.S. government has allowed exports and in-country transfers needed to complete the development of the company's H100 artificial intelligence chip.

The chip designer has also been allowed to fulfill orders of the A100 and H100 AI chips via its Hong Kong facility through Sept. 1, 2023.

U.S. officials told Nvidia on Wednesday to stop exporting its two top computing chips for AI work to China, a move the company said would interfere with the development of the H100.

The company said on Thursday Washington has also allowed it to perform exports needed to provide support for U.S. customers of A100 through March 1, 2023. (https://bit.ly/3Q5YfhR)

Shares of the company were down 4% in premarket trading on concerns that the U.S. ban could hurt Nvidia's business in the key Chinese market.

Rival Advanced Micro Devices Inc also said on Wednesday that U.S. officials have told it to stop exporting its top artificial intelligence chip to China.

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