Nvidia, NVDA, has just reported that the US government is banning their export of H20 products to China for the indefinite future

Apple, AAPL, iPhone could triple in price to $3,500 if they’re made in the US

Former U.S. Rep. George Santos sentenced to 7 years in prison for fraud

One-third of younger millennials received down payment help in the form of a gift or a loan from a friend or relative

China is considering suspending its 125% tariff on some US imports including medical equipment, ethane and plane leasing

​Nvidia is anticipating a $5.5 billion charge in its upcoming quarterly earnings due to new U.S. export restrictions on its H20 AI chips to China. The U.S. government informed Nvidia on April 9 that exporting the H20 chip to China would now require a special license, citing concerns about potential use in Chinese supercomputers. This license requirement is set to be in effect indefinitely. ​The H20 chip, introduced last year, was specifically designed to comply with earlier U.S. export controls, allowing Nvidia to continue sales in China. However, the new restrictions have led Nvidia to account for $5.5 billion in charges related to inventory, purchase commitments, and related reserves for the H20 product line. ​Following the announcement, Nvidia's shares fell approximately 6% in after-hours trading. The company had previously secured significant orders for the H20 chip from major Chinese tech firms, including Tencent, Alibaba, and ByteDance, driven by the demand for cost-effective AI models from startups like DeepSeek. In response to the evolving regulatory landscape, Nvidia has announced plans to invest up to $500 billion in building AI infrastructure within the United States over the next four years. This initiative includes manufacturing AI supercomputers in Texas and producing Blackwell AI chips in Arizona.The U.S. Commerce Department has also imposed similar export licensing requirements on AMD's MI308 chips, reflecting broader efforts to control the export of advanced computing technologies to China.