What the numbers say: Santa Clara, California-based Nvidia's fiscal year 2023 saw an increase in revenue, reaching $26.97B compared to $26.91B in 2022. This marks the highest recorded figure for the period examined.
Relevance: The semiconductor industry, including companies like Nvidia, could face significant financial impact as they become caught in the crossfire of new U.S. regulations on exporting AI chips to China, potentially resulting in a multibillion-dollar loss. However, despite geopolitical pressures, the industry's role in developing AI technology and favorable demand dynamics reassure investors.
Influence: In September, Nvidia said that U.S. officials asked the company to stop exporting two top computing chips for AI work to China.