While as a fabless chip company, Nvidia can’t benefit from manufacturing subsidies, it may qualify for some of the research and development (R&D) funding provided by this program. Department of Commerce this month is now seeking applications for the subsidies authorized by last month’s CHIPS Act. That’s not to say they haven’t been any bright spots.įor instance, the U.S. These apply to some of the high-end AI products it currently sells to end-users in China. One bit of news hurting shares lately has been the U.S. Concerns about the impact on operating performance by factors like a stronger dollar and a slowing global economy are also applying pressure to the sector overall.Īlso, as mentioned above, company-related news is also negatively affecting the performance of NVDA stock.
Tech stocks overall remain under pressure, and not just due to the Fed’s plans to continue hiking rates to combat inflation.
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