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Chinese electric car maker Nio IncNIO joined others in the industry denying any impact from U.S. restrictions on Nvidia CorpNVDA chip sales to China, CNBC reports.
Now the U.S. requires Nvidia to get a license for future export to China for certain products, citing national security concerns.
The new U.S. restrictions target Nvidia’s A100 and H100 products, whose sales are part of its more significant data center business.
Nvidia expects to lose $400 million or 10.6% of its data center business and 6.8% of its overall third quarter revenues due to the newly imposed restrictions, CNBC writes.
Nio founder, Chair, and CEO William Li estimated that computing power is sufficient for its autonomous driving technology development in the aspect of AI training for now.
The Nvidia Drive Orin chip has become a core part of assisted driving tech for Nio and other electric car companies in China.
Nio’s new ES7 SUV came with four Nvidia chips, including one that enabled the car to learn from individual driver preferences.
Li acknowledged multiple options in China regarding artificial intelligence training chips.
He also noted that the restrictions would not affect Nio’s long-term strategy.
Last week, automaker Geely Automobile Holdings LtdGELYY, WeRide, and Pony.ai expressed their indifferences to the restrictions.
The U.S. took steps to restrict China’s access to cutting-edge semiconductor technology, including imposing restrictions on China’s chipmakers.
China’s President Xi Jinping sought a more robust effort to pool nationwide resources to advance critical technologies during a Communist Party meeting.
Price Action: NIO shares traded higher by 0.40% at $17.55 in the premarket on the last check Thursday.
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