Asia stocks tumble as US restricts Nvidia

NEW YORK: Share prices of big technology companies declined in Asia yesterday, dragging broader markets lower, after Nvidia, the American chip giant, revealed that the US government would restrict sales of some of its chips to China.

- DANIELLE KAYE

They are the first major limits that President Donald Trump's administration has put on semiconductor sales abroad. Nvidia dominates the market for chips used in building artificial intelligence systems and will now require a licence to sell AI chips to China. It raises the possibility that the company's sales to China will evaporate in the coming months, bringing an end to a business that has contracted as the United States has curbed chip exports to its geopolitical rival.