Nvidia recorded no China sales revenue for H20 chips and reported revenue that narrowly beat Wall Street targets in the second quarter, as the AI chipmaker reported financial results on Wednesday.
Nvidia has been navigating trade restrictions on H20 shipments to China since April. The U.S. government began issuing licenses for approved buyers in China in July, and Nvidia said a few of its China-based customers had received such licenses. But no H20 chip revenue to China was included in its second-quarter revenue, Nvidia said (It noted that some H20 chip inventory was sold outside of China in the second quarter, adding a $180 million benefit to the topline).
Nvidia said it was not including H20 in its financial forecast for the current quarter, though it estimated that $2 billion to $5 billion worth of H20 chips could be shipped to China if “geopolitical” issues were resolved. The company also repeated its call for the U.S. government to allow it to sell its more advanced “Blackwell” generation of products to China.
Nvidia earnings beat Wall Street’s sky-high expectations, but the stock is falling because ‘there were no H20 sales to China-based customers’
Submitted 9 hours ago by cm0002@lemmy.world to technology@lemmy.zip
https://finance.yahoo.com/news/nvidia-earnings-beat-wall-street-222351252.html?guccounter=1