Will Nvidia Announce Something Big on July 16?
Nvidia (NASDAQ: NVDA) has made headlines over the past few years as it's reinforced its position as an artificial intelligence (AI) chip leader. The company has spoken of "insane" demand for its latest architecture and chip, has delivered record levels of revenue and high profitability, and has shown that it can be part of every stage of AI growth. All of this has helped the shares to skyrocket, advancing more than 980% over the past three years.
But Nvidia has encountered one major hurdle along this path, and that's operating in the Chinese market. A few years ago, the U.S. launched export controls, preventing Nvidia and others from shipping their top-performing chips to that country. Nvidia responded by designing a chip that met U.S. guidelines, but this spring the U.S. informed the company that it could no longer export that chip without a license -- the U.S. hasn't yet granted such a license to chip companies.
That move officially closed the door to the Chinese market, prompting Nvidia to say it no longer would include China in its earnings guidance. Since, CEO Jensen Huang has spoken openly about how export controls will be negative for U.S. chip designers as well as the AI industry in the U.S. Now, Huang has something planned for July 16 that Nvidia investors should watch.
Source Fool.com
