China urges local companies to stay away from Nvidia AI chips – report

Bloomberg is out with a report saying China is ramping up pressure on domestic companies to use domestic chip products rather than Nvidia chips.

Shares of Nvidia are down 3.5% and at a session low and weighing on the broader market. The Nasdaq is now down 0.6%.

The thing is, this exact same story was out in May.

This article was written by Adam Button at www.forexlive.com.