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Sept. 21, 2022, 5:57 p.m. EDT

Nvidia Stock: Is There a Particular Reason Why It Rose Today? The Chinese Market Has an Opportunity for Products, Says CEO Huang

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Sep 21, 2022 (PressReach.com via COMTEX) -- Nvidia stock increased by about 1% on Wednesday after the company’s chief executive stated there is still significant room for Nvidia’s products in China despite worries over regulations.

CEO Jensen Huang stated at a press conference that Nvidia stock should not be too affected by the limits imposed by the U.S. government.

According to Reuters, Nvidia ( NASDAQ:NVDA ) CEO Jensen Huang said, “the vast majority of our clients are not affected by the specification,” meaning that despite the limitations, the company still has a “big space” in the Chinese market.

Moreover, Huang stated that a “great number of goods” in the United States and China will be architecturally compatible, fall within the parameters, and not require a license.

In addition to Huang’s statements, Nvidia /zigman2/quotes/200467500/composite NVDA +0.83% has been working on a simulation platform for autonomous driving research alongside lidar developer Cepton /zigman2/quotes/225527135/composite CPTN -5.19% . After the news broke, shares of Cepton /zigman2/quotes/225527135/composite CPTN -5.19% jumped by more than 17%.

Analysts had noted that the revelation may pose a “structural risk” to the entire industry when Santa Clara, California-based Nvidia stock and Advanced Micro Devices /zigman2/quotes/208144392/composite AMD -0.19% reported that the Biden administration restricted the sale of some of their products to China and Russia.

U.S. government “explained that the new licensing requirement will address the possibility that the covered items may be used in, or diverted to, a military end use’ or military end user’ in China and Russia,” Nvidia /zigman2/quotes/200467500/composite NVDA +0.83% wrote in an 8-K filing.

When asked about the potential financial impact, Nvidia /zigman2/quotes/200467500/composite NVDA +0.83% estimated $400M, while AMD /zigman2/quotes/208144392/composite AMD -0.19% said it did not envisage any significant change.

However, Nvidia stock said in a separate 8-K filing that the U.S. government has approved exports of its H100 integrated circuits and that it has approved order fulfillment and logistics for both the A100 and H100 through the company’s Hong Kong location until September 1, 2023.

At its annual conference on Tuesday, Nvidia /zigman2/quotes/200467500/composite NVDA +0.83% unveiled several new products, including high-end RTX and GeForce GPUs.

Among Citi’s top buy and sell calls across industries, including I.T., Nvidia stock was recently designated as a sell.

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Author: Shariq Khan
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COMTEX_414987231/2810/2022-09-21T17:56:57

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/zigman2/quotes/200467500/composite
US : U.S.: Nasdaq
$ 161.20
+1.33 +0.83%
Volume: 37.24M
Dec. 7, 2022 4:00p
P/E Ratio
68.58
Dividend Yield
0.10%
Market Cap
$393.28 billion
Rev. per Employee
$1.27M
loading...
/zigman2/quotes/225527135/composite
US : U.S.: Nasdaq
$ 1.28
-0.07 -5.19%
Volume: 143,768
Dec. 7, 2022 4:00p
P/E Ratio
39.26
Dividend Yield
N/A
Market Cap
$211.16 million
Rev. per Employee
N/A
loading...
/zigman2/quotes/225527135/composite
US : U.S.: Nasdaq
$ 1.28
-0.07 -5.19%
Volume: 143,768
Dec. 7, 2022 4:00p
P/E Ratio
39.26
Dividend Yield
N/A
Market Cap
$211.16 million
Rev. per Employee
N/A
loading...
/zigman2/quotes/208144392/composite
US : U.S.: Nasdaq
$ 70.14
-0.13 -0.19%
Volume: 59.18M
Dec. 7, 2022 4:00p
P/E Ratio
42.03
Dividend Yield
N/A
Market Cap
$113.30 billion
Rev. per Employee
$1.47M
loading...
/zigman2/quotes/200467500/composite
US : U.S.: Nasdaq
$ 161.20
+1.33 +0.83%
Volume: 37.24M
Dec. 7, 2022 4:00p
P/E Ratio
68.58
Dividend Yield
0.10%
Market Cap
$393.28 billion
Rev. per Employee
$1.27M
loading...
/zigman2/quotes/200467500/composite
US : U.S.: Nasdaq
$ 161.20
+1.33 +0.83%
Volume: 37.24M
Dec. 7, 2022 4:00p
P/E Ratio
68.58
Dividend Yield
0.10%
Market Cap
$393.28 billion
Rev. per Employee
$1.27M
loading...
/zigman2/quotes/208144392/composite
US : U.S.: Nasdaq
$ 70.14
-0.13 -0.19%
Volume: 59.18M
Dec. 7, 2022 4:00p
P/E Ratio
42.03
Dividend Yield
N/A
Market Cap
$113.30 billion
Rev. per Employee
$1.47M
loading...
/zigman2/quotes/200467500/composite
US : U.S.: Nasdaq
$ 161.20
+1.33 +0.83%
Volume: 37.24M
Dec. 7, 2022 4:00p
P/E Ratio
68.58
Dividend Yield
0.10%
Market Cap
$393.28 billion
Rev. per Employee
$1.27M
loading...

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