Chip giant Nvidia (NASDAQ:NVDA) has told its customers that it could delay the launch of its AI chip tailored for the Chinese market until the first quarter of next year, according to Reuters. Nvidia is delaying the launch of the AI-focused chip, H20, to comply with the export restrictions placed by the U.S.
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This delay could complicate the company’s efforts to combat rising competition from Chinese manufacturers like Huawei, as many Chinese companies are turning to Huawei for their AI chips. It was initially expected that Nvidia could launch the China-focused AI chip on November 16.
Is Nvidia Stock a Buy or Hold?
Analysts remain bullish about NVDA stock, with a Strong Buy consensus rating based on 36 Buys and three Holds. Even as the NVDA stock has surged by more than 200% year-to-date, the average NVDA price target of $657.17 implies an upside potential of 34.9% at current levels.
