ByteDance, Alibaba Group (BABA), Tencent Holdings and other Chinese companies placed at least $16 billion in orders for Nvidia's (NVDA) H20 server chips in the first three months of the year in an effort to get out in front of a potential US ban on the sale of the chips in China, The Information reported Wednesday, citing two people with direct knowledge of the transaction.
Nvidia and Alibaba did not immediately reply to requests for comment from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Price: 108.45, Change: -1.70, Percent Change: -1.54
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.