U.S. new ban on AI chip sales to China: impact and analysis on Nvidia, AMD, and Intel / 美國更新對中國AI晶片銷售禁令，對Nvidia、AMD與Intel的影響與分析
Oct 17, 2023
- It offers a short-term entry opportunity for AMD stock if the price falls due to the U.S. policy of further restricting AI chip sales to China, as AMD’s current primary customers are mainly CSP/service platform providers in the North America.
- Nvidia will undoubtedly be negatively impacted by the new ban, given the robust demand for AI chips from Chinese customers (accounting for 15–20% of the AI chip shipments in 2024; the percentage is even higher when considering the L40S and 4090). It’s important to closely monitor whether demand from other customers can offset the impact of the new ban.
- Intel may be the biggest loser from the new ban, as Intel’s Habana Gaudi 2 customers are mainly from China.
- 如果AMD的股價因美國對中國禁止銷售更多AI晶片政策而下跌，反而提供了短線買點，因爲AMD目前的主要客戶均以北美CSP/服務平台商為主。
- Nvidia無疑將受到新禁令負面影響，因為中國客戶對AI晶片的需求強勁 (佔2024年AI晶片出貨比重為15–20%，若考慮到L40S與4090則比重更高)，需密切觀察其他客戶需求能否抵銷新禁令影響。
- Intel可能是新禁令最大輸家，因為Intel的Habana Gaudi 2的客戶以中國客戶為主。
