Nvidia Corp (NVDA, -4.68%) has stated that an expanded ban on AI tech products to China could potentially cause delays in its current rollout. However, the company does not expect to see any significant financial impact in the near term, according to a filing with the Securities and Exchange Commission.
Following a 4.7% drop in the regular session to close at $439.38, Nvidia shares fell 0.8% after hours. This decline came as the United States extended its restrictions on technology to China.
In the filing, Nvidia commented, “The licensing requirement may impact the company’s ability to complete development of products in a timely manner, support existing customers of covered products, or supply customers of covered products outside the impacted regions, and may require the company to transition certain operations out of one or more of the identified countries.” The company further emphasized that these risks were material ones.
However, Nvidia remains optimistic about the future. The company stated, “Given the strength of demand for our products worldwide, we do not anticipate that the additional restrictions will have a near-term meaningful impact on our financial results.”
