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Why Nvidia Stock Cratered on Thursday

TheMotleyFool

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Why Nvidia Stock Cratered on ThursdayPhoto, wide shot, wide-angle lens, Telecom equipment supplier, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Michael Light: https://img.theapi.app/temp/ad10ed87-71d0-4096-a50b-ba9470f8264b.png

Shares of Nvidia (NASDAQ: NVDA) tumbled hard on Thursday, falling as much as 11.1%. As of 11:13 a.m. ET, the stock was still down 10.9%.

The catalyst that sent the semiconductor specialist plunging was a federal government mandate restricting chip sales to China and Russia.

In a regulatory filing that dropped late Wednesday, Nvidia revealed that the U.S. government had imposed a new licensing requirement on the company's high-end chips used for artificial intelligence (AI) systems and data centers, effective immediately, for any exports to China and Russia.

Source Fool.com

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