NVDA 8-K — Smart Summary

NVIDIA disclosed that the U.S. government has imposed an indefinite license requirement for export of its H20 integrated circuits to China (including Hong Kong and Macau) and D:5 countries, effective April 14, 2025. As a result, NVIDIA expects up to approximately $5.5 billion in charges in Q1 fiscal year 2026 related to H20 inventory, purchase commitments, and related reserves.

• On April 9, 2025, the USG informed NVIDIA it requires a license for export of H20 integrated circuits to China (including Hong Kong and Macau) and D:5 countries, or to companies headquartered or with an ultimate parent therein
• The license requirement also covers any other circuits achieving the H20's memory bandwidth, interconnect bandwidth, or combination thereof
• The USG indicated the license requirement addresses the risk that covered products may be used in, or diverted to, a supercomputer in China
• On April 14, 2025, the USG informed NVIDIA the license requirement will be in effect for the indefinite future
• NVIDIA's Q1 fiscal year 2026 ends April 27, 2025; first quarter results are expected to include up to approximately $5.5 billion of charges associated with H20 products for inventory, purchase commitments, and related reserves