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Nvidia revenue hit by U.S. chip curbs, China's zero-COVID policy

More weak demand expected despite alternative semiconductor offering

The U.S. banned exports of Nvidia's H100 and A100 chips to China in September.    © Reuters

PALO ALTO, U.S. -- U.S. chipmaker Nvidia reported a 17% year-over-year quarterly revenue decline on Wednesday, with demand weakening from China due to Washington's export curbs and Beijing's zero-COVID policies.

For the three months ended Oct. 30, the California-based company recorded $5.9 billion in revenue, down 17% on the year. The decline was largely driven by the lackluster performance of the gaming chip division, which saw a 51% year-over-year revenue drop to $1.6 billion.

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