<p>英偉達宣佈，由於美國政府實施的新出口限制，公司將承擔約 55 億美元與其 H20 圖形處理單元（GPU）出口相關的費用。該公司在最近的文件中透露，已於 4 月 9 日收到美國政府的通知，表示其針對特定國家和地區的芯片需要獲得出口許可證。</p><p>這 55 億美元的費用預計將在 2026 財年的第一季度記錄，該財年將於 2025 年 4 月 27 日結束。這筆費用與 H20 產品線的庫存、採購承諾及相關準備金有關。該公告強調了由於對其芯片出口限制的增加，英偉達整體增長可能放緩的潛在風險。該公司股票在消息發佈後經歷了顯著的盤後交易下跌，突顯了市場對這些限制的財務影響的擔憂。</p><p>美國政府決定實施這些限制是為了更廣泛地控制對某些地區的先進技術出口。這一舉措可能對英偉達產生深遠的影響，因為它在遵守新法規的複雜性與管理財務義務之間進行權衡。公司適應這些變化的能力將對其未來表現和市場地位至關重要。</p><p>英偉達的 H20 芯片旨在遵守美國出口限制，基於 2022 年發佈的前一代 AI 架構&#34;Hopper&#34;。H20 芯片與美國及其他地區使用的 H100 和 H200 AI 芯片相當，但其互連速度和帶寬較慢。預計 H20 芯片在 2024 年將產生 120 億至 150 億美元的收入。</p><p>除了現有的出口管制外，英偉達還將面臨根據拜登政府初步&#34;AI 擴散規則&#34;從下個月開始的新出口限制。英偉達一直主張，對其芯片的進一步限制可能會抑制競爭，並可能削弱美國的技術優勢。該公司此前表示，已將部分運營，包括測試和分銷，遷出美國，以應對 2022 年實施的出口管制。</p><p>在上個月的公司會議上，英偉達首席執行官黃仁勳表示，當被問及出口限制時，公司將努力遵守法律。由於特朗普政府宣佈對主要貿易伙伴實施廣泛關税，英偉達的股票今年已下跌 16%。儘管包括智能手機、計算機和半導體在內的各種電子產品享有豁免，但特朗普和一些官員在週末表示，這些豁免是暫時的，並且是針對該行業的單獨關税計劃的一部分。</p><p>在英偉達披露消息後，超微半導體的股票在週二的盤後交易中下跌超過 7%，而另一家 AI 芯片製造商博通的股票也下跌了近 4%。新的出口限制預計將對半導體行業產生重大影響，因為英偉達、超微半導體和博通等公司在遵守新法規的挑戰與管理財務義務之間進行權衡。這些公司適應這些變化的能力將對其未來表現和市場地位至關重要。</p><figure class="image"><img src="https://pub.pbkrs.com/uploads/2025/a091bd7cccb42d3827db1c38e4770bae?x-oss-process=style/lg" alt="" width="1368" height="768" original-src="https://pub.pbkrs.com/uploads/2025/a091bd7cccb42d3827db1c38e4770bae"/></figure>

英偉達

<p>Nvidia 預計由於美國對其 H20 GPU 的出口限制，將產生 55 億美元的費用，因為它必須為特定地區獲得許可證。這筆費用將在 2026 財年的第一季度記錄，影響庫存和採購。這些限制可能會減緩 Nvidia 的增長，並導致其股價大幅下跌。該公司認為，進一步的限制可能會損害競爭和美國的技術優勢。其他半導體公司如 AMD 和 Broadcom 在 Nvidia 宣佈後也出現了股價下跌，突顯了對整個行業的更廣泛影響</p>

<p>Nvidia has announced that it will incur approximately $5.5 billion in expenses related to the export of its H20 graphics processing units (GPUs) due to new export restrictions imposed by the U.S. government. The company revealed in a recent filing that it received notification from the U.S. government on April 9, stating that it would need to obtain export licenses for its chips destined for specific countries and regions.</p>
<div class="lb-trans"><p>英偉達宣佈，由於美國政府實施的新出口限制，公司將承擔約 55 億美元與其 H20 圖形處理單元（GPU）出口相關的費用。該公司在最近的文件中透露，已於 4 月 9 日收到美國政府的通知，表示其針對特定國家和地區的芯片需要獲得出口許可證。</p>
</div><p>The $5.5 billion expense is expected to be recorded in the first quarter of the 2026 fiscal year, which ends on April 27, 2025. This cost is associated with inventory, procurement commitments, and related reserves for the H20 product line. The announcement underscores the potential slowdown in Nvidia's overall growth due to the increased export restrictions on its chips. The company's stock experienced a significant drop in after-hours trading following the news, highlighting the market's concern over the financial implications of these restrictions.</p>
<div class="lb-trans"><p>這 55 億美元的費用預計將在 2026 財年的第一季度記錄，該財年將於 2025 年 4 月 27 日結束。這筆費用與 H20 產品線的庫存、採購承諾及相關準備金有關。該公告強調了由於對其芯片出口限制的增加，英偉達整體增長可能放緩的潛在風險。該公司股票在消息發佈後經歷了顯著的盤後交易下跌，突顯了市場對這些限制的財務影響的擔憂。</p>
</div><p>The U.S. government's decision to impose these restrictions is part of a broader effort to control the export of advanced technologies to certain regions. This move is likely to have far-reaching consequences for nvidia, as it navigates the complexities of complying with new regulations while managing its financial obligations. The company's ability to adapt to these changes will be crucial in determining its future performance and market position.</p>
<div class="lb-trans"><p>美國政府決定實施這些限制是為了更廣泛地控制對某些地區的先進技術出口。這一舉措可能對英偉達產生深遠的影響，因為它在遵守新法規的複雜性與管理財務義務之間進行權衡。公司適應這些變化的能力將對其未來表現和市場地位至關重要。</p>
</div><p>Nvidia's H20 chip is designed to comply with U.S. export restrictions and is based on the previous generation of AI architecture known as &#34;Hopper,&#34; which was released in 2022. The H20 chip is comparable to the H100 and H200 AI chips used in the U.S. and other regions, but it has slower interconnect speeds and bandwidth. The H20 chip is estimated to generate revenue between $12 billion and $15 billion in 2024.</p>
<div class="lb-trans"><p>英偉達的 H20 芯片旨在遵守美國出口限制，基於 2022 年發佈的前一代 AI 架構&#34;Hopper&#34;。H20 芯片與美國及其他地區使用的 H100 和 H200 AI 芯片相當，但其互連速度和帶寬較慢。預計 H20 芯片在 2024 年將產生 120 億至 150 億美元的收入。</p>
</div><p>In addition to the existing export controls, Nvidia will face new restrictions on the products it can export starting next month, according to the Biden administration's initial &#34;AI proliferation rules.&#34; Nvidia has consistently argued that further restrictions on its chips could stifle competition and potentially weaken the U.S.'s technological edge. The company has previously stated that it has moved some of its operations, including testing and distribution, out of the U.S. following the implementation of export controls in 2022.</p>
<div class="lb-trans"><p>除了現有的出口管制外，英偉達還將面臨根據拜登政府初步&#34;AI 擴散規則&#34;從下個月開始的新出口限制。英偉達一直主張，對其芯片的進一步限制可能會抑制競爭，並可能削弱美國的技術優勢。該公司此前表示，已將部分運營，包括測試和分銷，遷出美國，以應對 2022 年實施的出口管制。</p>
</div><p>At a company meeting last month, Jensen Huang, the CEO of Nvidia, stated that the company would strive to comply with the law when asked about the export restrictions. Nvidia's stock has declined by 16% this year, primarily due to the announcement by the Trump administration of broad tariffs on major trading partners. Despite exemptions for various electronic products, including smartphones, computers, and semiconductors, Trump and some officials indicated over the weekend that these exemptions are temporary and part of a separate tariff plan for the industry.</p>
<div class="lb-trans"><p>在上個月的公司會議上，英偉達首席執行官黃仁勳表示，當被問及出口限制時，公司將努力遵守法律。由於特朗普政府宣佈對主要貿易伙伴實施廣泛關税，英偉達的股票今年已下跌 16%。儘管包括智能手機、計算機和半導體在內的各種電子產品享有豁免，但特朗普和一些官員在週末表示，這些豁免是暫時的，並且是針對該行業的單獨關税計劃的一部分。</p>
</div><p>Following Nvidia's disclosure, Advanced Micro Devices' stock fell by more than 7% in after-hours trading on Tuesday, while Broadcom, another AI chip manufacturer, saw its stock drop by nearly 4%. The new export restrictions are expected to have a significant impact on the semiconductor industry, as companies like Nvidia, Advanced Micro Devices, and Broadcom navigate the challenges of complying with new regulations while managing their financial obligations. The ability of these companies to adapt to these changes will be crucial in determining their future performance and market position.</p>
<div class="lb-trans"><p>在英偉達披露消息後，超微半導體的股票在週二的盤後交易中下跌超過 7%，而另一家 AI 芯片製造商博通的股票也下跌了近 4%。新的出口限制預計將對半導體行業產生重大影響，因為英偉達、超微半導體和博通等公司在遵守新法規的挑戰與管理財務義務之間進行權衡。這些公司適應這些變化的能力將對其未來表現和市場地位至關重要。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://lh-prod-oper-pub-opercenter.s3.amazonaws.com/discovery-image/compress-1a89d7037d420001.png" alt="" original-src="https://lh-prod-oper-pub-opercenter.s3.amazonaws.com/discovery-image/compress-1a89d7037d420001.png"/></p>

Nvidia Faces $5.5 Billion Hit From U.S. Export Restrictions

- Nvidia 預計因美國新出口限制將產生約 55 億美元的費用。  
- 該費用將記錄在 2026 財年第一季度，影響庫存和採購承諾。  
- 新限制可能減緩 Nvidia 整體增長，導致股價大幅下跌。  

英偉達因美國出口限制面臨 55 億美元的損失