NVIDIA may be developing new AI chip for China
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BEIJING/SINGAPORE (Reuters) -Nvidia is developing a new AI chip for China based on its latest Blackwell architecture that will be more powerful than the H20 model it is currently allowed to sell there,
While most of AI's power players have already reported, the ultimate industry bellwether, Nvidia ( NVDA 0.94%), has yet to step up to the plate. The semiconductor giant is scheduled to announce results on Aug. 27, and expectations could not be higher.
The heaviest weight on the market was Nvidia, whose chips are powering much of the move into AI. It sank 3.5%.
Nvidia ( NVDA 0.94%) owns stock in publicly traded companies as part of its treasury strategy. Its $4.3 billion portfolio included six positions as of the June-ending quarter, but two accounted for 95% of invested assets: 91% was allocated to CoreWeave ( CRWV -3.17%) and 4% was to Arm Holdings ( ARM 1.52%).
NEW YORK — Wall Street faded Aug. 19 following drops for Nvidia and other stars that have been riding the mania surrounding artificial-intelligence technology.