Nvidia's H20 snubbed in China
Digest more
NVIDIA Corporation (NASDAQ:NVDA) ranks among the best magic formula stocks to invest in. BofA Securities kept its Buy rating on NVIDIA Corporation (NASDAQ:NVDA) while increasing its price target from $180 to $220.
Nvidia is set to recoup billions of dollars in revenue as the Trump administration has signaled it will grant licenses for the company to resume sales of its AI chips to China after a surprise export ban in April.
Mich., said Beijing-focused export controls should be designed to keep China’s military “from leapfrogging ahead with U.S. hardware.”
Under the export rules implemented during the Biden administration, Nvidia was allowed to sell the H20 chip in China up until April 2025.
Nvidia stock's surge looks poised to accelerate because investors' biggest concern about the company -- losing the Chinese data center AI chip market -- is now a non-issue.