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Nvidia Shares Drop as China Restricts AI Chip Purchases; Alibaba Gains After Winning China Uni-Deal
Nvidia dropped over 1% after China banned purchases of its AI chips, while Alibaba rose 2.
Nvidia shares slipped more than 1% in premarket trading after reports indicated that China banned major domestic technology firms from purchasing the company’s AI chips. The restrictions come amid intensifying geopolitical tensions and ongoing U.S.–China export controls, adding new uncertainty to Nvidia’s international revenue outlook. Meanwhile, Alibaba shares rose 2.3% after securing China Unicom as a large-scale customer for its homegrown AI chips. Analysts highlighted that the developments may accelerate China’s shift toward domestic semiconductor alternatives while pressuring global GPU supply chains.