Nvidia (NVDA) Facing Draconian A.I. Export Controls

Analysts cut Nvidia (NVDA) price targets after the U.S. announces further China chip restrictions. Citi cut NVDA’s price target to $575 from $630. The analyst notes that the scope of the new performance density thresholds will make it difficult to sell to China. A Morgan Stanley analyst notes that A.I. export controls were expected, and the initial interpretation looks more draconian than prior expectations. The analyst highlights that A.I. restrictions to regions such as China and Saudi Arabia are more specific and, at the margin, look more negative for revenues. Caroline Woods discusses this along with ASML Holding (ASML) after a revenue miss and cautious guidance. Tune in to find out more about the stock market today.