By George Glover
Nvidia could soon face tighter restrictions on sales to China and Russia, according to a report. The chip designer’s shares were falling in late trading on Wednesday.
The Big Tech stock slid 1.1% to $138.54 after the closing bell. Markets are closed Thursday for a national day of mourning for former U.S. President Jimmy Carter.
Nvidia shares climbed 4.3% over the first five trading days of 2025. According to Dow Jones Market Data, the stock rose 6.9% over the first five days of 2023 and 5.5% over the same period in 2024. It went on to rack up triple-digit gains in both of those years as the AI craze drove up demand for its products and led to its profit surging.
The dip late Wednesday came after a report said that the Biden administration plans to impose a final round of chip export restrictions before leaving office. The plan would see U.S. allies given free rein to import chips but block imports by unfriendly countries like China and Russia, according to Bloomberg, which cited people familiar with the matter. Nvidia has been contacted for comment.
Separately, the government of the Netherlands said on Thursday that it had struck a deal for Nvidia to supply its products to help build an AI facility.
Write to George Glover at george.glover@dowjones.com