By Adam Clark
Nvidia was edging down early on Monday. The chip maker is still facing issues with its advanced artificial-intelligence processors reaching Chinese customers in the face of U.S. export controls.
Nvidia shares were down 0.5% at $124.39 in premarket trading, while futures for the S&P 500 were gaining 0.1%. The stock rose 4% on Friday.
Nvidia's share price is still down in the wake of the company's earnings report last week, despite beating expectations for revenue growth. The stock fell after President Donald Trump announced that tariffs on Canada and Mexico, along with an additional tariff on China, would take effect on Tuesday.
Part of the issue for Nvidia is likely to be continued concerns about potential restrictions on exports of its AI hardware amid reports that advanced chips are reaching China despite U.S. sanctions.
Some Chinese sellers are promising delivery of Nvidia's current-generation Blackwell chips within six weeks, with orders routed via companies in places such as Malaysia, Vietnam and Taiwan, The Wall Street Journal reported on Sunday.
Nvidia's sales in Singapore have become a particular focus for some lawmakers who have pushed for tighter export controls. The country's authorities recently charged three men in a fraud case, which is suspected to involve sales of Nvidia semiconductors in potential breach of U.S. export controls, according to a Singaporean government announcement on Monday.
Nvidia didn't immediately respond to a request for comment. The company told The Wall Street Journal that it would investigate every report of possible diversion and take appropriate action.
Among other chip makers, Advanced Micro Devices was gaining 1.1% and Broadcom was rising 2.2% in premarket trading.
Write to Adam Clark at adam.clark@barrons.com
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March 03, 2025 05:37 ET (10:37 GMT)
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