USA, new restrictions on Chinese chips. Nvidia warns: "leaks will be permanent"

US industry could suffer "permanently lost opportunities" if the Washington government imposes new onesAI chip export restrictions in China. This was warned by the US technology company, Nvidia. In October 2022, US authorities announced restrictions on the sale of some artificial intelligence chips to China, in yet another effort by Washington to contain the Asian country's advance.

These restrictions could make life difficult for US industries, including Nvidia, as well as cause a financial hole, as the Chinese account for a large chunk of their profits.“In the long run, restrictions prohibiting the sale of our data center graphics processing units in China, if implemented, will result in a permanent loss of opportunity for US industry to compete and drive one of the largest markets and impact the future business and financial results,” Nvidia executive Colette Kress told CNN. Shares of Nvidia fell 3.2% on Wednesday, before deducting part of the losses, to close down 1.8%.China is a key market for Nvidia, as Beijing and Hong Kong accounted for 22% of the company's revenue in 2022.