Nvidia shares rise after beating sales estimates, flags $8 billion export hit due to US curbs on China

Nvidia shares rise after beating sales estimates, flags $8 billion export hit due to US curbs on China

Nvidia posted strong quarterly sales as customers rushed to buy its AI chips ahead of new U.S. export restrictions to China. However, those same curbs are expected to cost the company $8 billion in the current quarter, leading to a weaker-than-expected forecast.

Representative photograph for tech giant Nvidia. (Photo: Reuters)