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Nvidia to Record $5.5B Charge as US Cracks Down on Chip Exports to China

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Nvidia said it is set to take a $5.5 billion first-quarter charge after the U.S. limited exports of its artificial intelligence ( AI ) chips to China .

China 's Ministry of Commerce also imposed export controls on AMD 's sales of its AI chips there.

The news, the latest salvo in an escalating trade war between Washington and Beijing , sent firm's shares tumbling in premarket trading Wednesday .

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