What's Going On With Nvidia Stock Thursday?

Artificial intelligence kingpin Nvidia Corp NVDA is in no mood to give up on China's ambitions. 

Weeks following the U.S. ban on selling two advanced AI chips and a leading gaming chip to Chinese companies, the chip designer plans to introduce three new chips in China.

Nvidia could release the HGX H20, L20 PCIe, and L2 PCIe chips by November 16, Reuters reports.

Nvidia has commanded over 90% share of China's $7 billion AI chip market, and analysts saw the U.S. curbs creating opportunities for domestic firms like Huawei Technologies.

Thanks to the U.S. embargo, Nvidia recently lost to Huawei for a sizeable artificial intelligence chip order from Chinese tech giant Baidu Inc BIDU.

Last week, reports indicated Nvidia lost over $5 billion in orders in 2024 from China's leading AI and cloud-computing companies, including Alibaba Group Holding Limited BABA.

In October, the American AI chip behemoth disclosed that Washington's newly declared export constraints would prevent it from exporting two altered high-end AI chips, the A800 and H800, designed for the Chinese market. Additionally, the company noted that these restrictions would also impact one of its premier gaming chips, the L40S, unveiled in August.

Price Action: NVDA shares traded higher by 1.83% at $474.48 premarket on the last check Thursday.