Nvidia shares fall after China AI chip is delayed

News Snapshot:

What just happened? More bad news for China's sanctions-hit artificial intelligence industry. Nvidia has reportedly told customers in the country that its new AI chip designed specifically to comply with the latest US export rules is being delayed until the first quarter of next year. Nvidia's share price fell around 4% on the back of the claims, though it has recovered slightly since then. Citing two sources familiar with the matter, Reuters writes that the delayed chip is the H20, the most powerful of three AI-focused products Nvidia has developed to comply with the new US restrictions announced in October....