Nvidia plans to launch a new artificial intelligence chip (AI) at a lower cost targeted specifically for the Chinese market, after being restricted from exporting the more expensive chip model. Expected to go into mass production in June, the new chip will be priced between $6,500 and $8,000, cheaper than the restricted H20 model which ranges from $10,000 to $12,000.
CEO Jensen Huang stated that Nvidia’s market share in China has decreased from 95% to 50% due to U.S. export restrictions. Nevertheless, the company will continue to optimize its products to serve this market.
This news was released before Nvidia announced its quarterly earnings report on May 28, with revenue expected to reach $43.4 billion, a 66% increase compared to the same period last year.
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