Nvidia rises as CEO says there is a 'large space' for company in Chinese market
Justin Sullivan

Nvidia (NASDAQ:NVDA) shares rose more than 3% on Wednesday as the company's Chief Executive said he still sees a "large space" for the semiconductor giant's products in China.
In a press conference, Chief Executive Officer Jensen Huang said the restrictions placed on Nvidia (NVDA) by the U.S. government should likely not impact the company that much. 
"The vast majority of our customers are not affected by the specification," Huang said, according to Reuters, adding that the restrictions still allow Nvidia (NVDA) to have a "large space" in the Chinese market.
Huang also noted that a "large number of products" in the U.S. and China will be architecturally compatible, be within the limits and do not require a license.
On Tuesday, Nvidia (NVDA) announced several new products at its annual conference, including high-end RTX and GeForce GPUs.
Earlier this month, Nvidia (NVDA) and Advanced Micro Devices (NASDAQ:AMD) both âconfirmed that the U.S. government has curbed the sale of some of their products to China and Russia, with analysts noting the news could be a "structural risk" for the entire industry.
In an 8-K filing, Nvidia (NVDA) said the U.S. government "indicated that the new license requirement will address the risk that the covered products may be used in, or diverted to, a âmilitary end useâ or âmilitary end userâ in China and Russia."
Nvidia (NVDA) said the impact could be worth as much as $400M in revenue, while AMD (AMD) said it did not see a material impact. 

In a separate 8-K filing however, Nvidia (NVDA) said the U.S. government has authorized exports of its H100 integrated circuits and it has authorized both A100 and H100 order fulfillment and logistics through the company's Hong Kong facility through September 1, 2023.


Earlier this week, investment firm Citi listed Nvidia (NVDA) as a sell among its top buy and sell calls in all sectors, including information technology.