Nvidia,
the semiconductor maker that has surged this year on the back of excitement around artificial intelligence , says it is working with the U.S. government to ensure its next chips will be allowed to be exported to China.
“Nvidia has been working very closely with the U.S. government to create products that comply with its regulations,” Nvidia Chief Executive Jensen Huang said at a conference in Singapore on Wednesday. “Our plan now is to continue to work with the government to come up with a new set of products that comply with the new regulations that have certain limits.”
The California-based company has been hurt by restrictions on chip exports by the U.S., put in place on concern that cutting edge technology could be used for military purposes. Nvidia still has a dominant position in the world’s second-biggest economy, but the restrictions open opportunities for rivals such as Huawei.
Nvidia stock added 1.1% in premarket trading to $471. The shares have more than tripled this year.
Write to Brian Swint at brian.swint@barrons.com
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