{"id":28933,"date":"2023-06-29T01:02:04","date_gmt":"2023-06-29T05:02:04","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/chinese-internet-stocks-slip-on-report-u-s-to-tighten-ai-chip-exports\/"},"modified":"2023-06-29T01:02:06","modified_gmt":"2023-06-29T05:02:06","slug":"chinese-internet-stocks-slip-on-report-u-s-to-tighten-ai-chip-exports","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=28933","title":{"rendered":"Chinese Internet Stocks Slip on Report U.S. to Tighten AI Chip Exports"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000681355\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<p>China internet stocks lost ground Wednesday following a report in <em>The Wall Street Journa<\/em>l that the Biden Administration intends to make it harder for chip makers<br \/>\n        Nvidia<br \/>\n       and<br \/>\n        Advanced Micro Devices<br \/>\n       to sell their most advanced processors to Chinese companies working on generative artificial intelligence applications.\u00a0<\/p>\n<p>The group of companies that would be affected by a ban includes China\u2019s largest internet players\u2014<br \/>\n        Baidu<br \/>\n       (ticker: BAIDU),<br \/>\n        Alibaba<br \/>\n       (BABA),<br \/>\n        Tencent<br \/>\n      (TCEHY) and privately held ByteDance, parent of TikTok.<\/p>\n<div class=\"paywall\">\n<p>Last August, Nvidia (NVDA) warned that it could lose up to $400 million of quarterly sales from the U.S. government\u2019s imposition of new licensing requirements on the sale of some of its most advanced chips to customers in China. The Biden Administration said at the time that it was worried the chips could fall into the hands of China\u2019s military. For Nvidia, the original ban covered its popular A100 and H100 chips, used to train large language models.<\/p>\n<p>Nvidia responded by creating less-powerful chips for the China market\u2014the A800 and H800\u2014but according to the <em>Journal<\/em>, the new restrictions would also ban export of those chips without a license.<\/p>\n<p>At an investment conference Wednesday, Nvidia CFO Collette Kress said that she doesn\u2019t expect any near-term impact from the expansion of export restrictions to cover the A800 and H800. But Citi analyst Atif Malik wrote in a research note that over time, restrictions on Nvidia\u2019s ability to sell to Chinese customers could be an issue. He notes that Nvidia\u2019s sales to China have historically been in the 20% to 25% range.\u00a0<\/p>\n<p>Earlier this month, the South China Morning Post reported that China\u2019s big tech firms were scrambling to find replacement parts for Nvidia\u2019s processors. That story cited a commentary in the state owned Economic Daily asserted that China\u2019s AI sector was being slowed by a shortage of GPUs and other components.<\/p>\n<p>Baidu and TenCent declined to comment on the <em>Journal<\/em> report; the other affected China companies didn\u2019t immediately respond to a request for comment.<\/p>\n<p>In U.S. trading Wednesday, Alibaba was down 2.6%, Baidu was off 1.6% and Tencent was 2% lower.<\/p>\n<p>Write to Eric J. Savitz at eric.savitz@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/chinese-internet-chip-exports-6bb6c550?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>China internet stocks lost ground Wednesday following a report in The Wall Street Journal that the Biden Administration intends to make it harder for chip makers Nvidia and Advanced Micro Devices to sell their most advanced processors to Chinese companies working on generative artificial intelligence applications.\u00a0 The group of companies that would be affected by [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":28934,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-28933","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Chinese Internet Stocks Slip on Report U.S. to Tighten AI Chip Exports | iFintechWorld<\/title>\n<meta name=\"description\" content=\"China internet stocks lost ground Wednesday following a report in The Wall Street Journal that the Biden Administration intends to make it harder for chip\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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