Nvidia, the semiconductor maker known for its advancements in artificial intelligence technology, has announced its collaboration with the U.S. government to ensure the exportation of its upcoming chips to China.
At a conference in Singapore, Nvidia’s CEO, Jensen Huang, stated, “Nvidia has been closely cooperating with the U.S. government to develop products that comply with regulatory guidelines. Our current focus is to work alongside the government in order to produce a new range of products that adhere to the newly imposed restrictions.”
The company, headquartered in California, has been impacted by recent limitations on chip exports from the U.S., which were implemented due to concerns over potential military applications of cutting-edge technology. Despite these challenges, Nvidia still holds a prominent position in the second-largest global economy. However, these restrictions have created opportunities for competitors such as Huawei.
In premarket trading, Nvidia stock rose by 1.1% to $471. It is worth noting that the value of the company’s shares has more than tripled throughout this year.