White House asks Congress to reject bill blocking Nvidia chip exports- Bloomberg
The White House’s stance is a victory for Nvidia, which has been consistently lobbying to be allowed to sell more chips overseas. China until recently still represented a major market for Nvidia, although the firm signaled earlier this year that it would stop including the country in its sales forecasts.
This also came amid increased Chinese scrutiny towards American-made chips, as Beijing pushed for full self-reliance in AI technology.
The Bloomberg report comes just hours after Nvidia clocked stronger-than-expected third-quarter earnings and presented an upbeat outlook for the current quarter. CEO Jensen Huang also pushed back against fears of an AI-fueled bubble in tech valuations.
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