Usg, Government agency

US technology firm Nvidia has said that the Biden administration has imposed restrictions on the sale of a number of high-tech computer chips to Russia and China as they can be used for military purposes."On August 26, 2022, the U.S . government, or USG, informed NVIDIA Corporation, or the Company, that the USG has imposed a new license requirement, effective immediately, for any future export to China (including Hong Kong) and Russia of the Company's A100 and forthcoming H100 integrated circuits," the company said in a statement that was published by the US Securities and Exchange Commission on Wednesday.The company said the license is required to export and support technologies, thereby eliminating the risk that these technologies could be used for military purposes.The statement noted that the company may request a license for a potential customer, but does not guarantee that the government will issue a license."The new license requirement may impact the Company's ability to complete its development of H100 in a timely manner or support existing customers of A100 and may require the Company to transition certain operations out of China. The Company is engaged with the USG and is seeking exemptions for the Company's internal development and support activities," the statement said, adding that the measure affects USD 400 million in the company's revenues in the third fiscal quarter.The high-tech products of another US company, Advanced Micro Devices (AMD), are also under restrictions, according to The New York Times.Last week, US President Joe Biden signed an executive order to implement the USD 280 billion CHIPS and Science Act of 2022. This includes more than USD 52 billion in subsidies for US semiconductor manufacturers in an effort to counter China's growing technological clout.China has opposed the new US chip law that aims to support the local producers of semiconductors. Chinese Foreign Ministry spokesman Wang Wenbin last month said that the new Chips and Science Act adopted by the US will disrupt global supply chains and hamper international trade."The United States stated that the act aims to increase the competitiveness of US technologies and the semiconductor production, however, this act provides huge subsidies to US enterprises producing chips and introduces a differentiated policy of industry support, some provisions of which, among other things, restrict the normal investment and trade and economic activities of relevant Chinese enterprises, as well as normal scientific and technical cooperation between China and the US," Wang said at a briefing.( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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International :US restricts export of Nvidia computer chips to Russia, China

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