Last fiscal year, Nvidia made $17.1 billion in revenue from selling to China, making it the company's fourth-largest market. That represented about 13% of its total sales for the year. This share declined in the latest quarter, but the company's total sales continued to rise.

The chip designer halts production of the H20 AI chip that it developed for China, after Beijing told companies there not to buy it.

Nvidia reportedly has told suppliers to suspend production of its H20 chip, after Beijing asked local firms to avoid using the chip tailored for the Chinese market due to security concerns.