US-China chip war: Nvidia hit as China cut off from more advanced chips

The Biden administration has announced new restrictions on exports of advanced chips to China, including two made-for-China chips from Nvidia. US chip stocks fell as the curbs also hit Advanced Micro Devices and Intel. The curbs are aimed at closing loopholes that became apparent after the US announced export curbs on chips last October. Nvidia has said in a filing that the new export restrictions will block sales of two high-end artificial intelligence chips it created for the Chinese market, and that one of its gaming chips will also be blocked. Both Japan and the Netherlands - which is home to key chip equipment maker ASML - have also imposed chip technology export restrictions on China.

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