China's EV slowdown drags down Nvidia's 'next billion-dollar business'
Publishing timestamp: 2023-08-25 01:26:21
Summary
The article discusses how Nvidia's automotive segment, which sells chip systems for assisted driving, reported a decline in quarterly revenue due to lower overall auto demand, particularly in China. Other automotive chip companies are also experiencing sequential revenue declines. The article also mentions competition from local EV players in China and the potential impact of excess inventory among Chinese manufacturers.
Sentiment: NEGATIVE
Tickers: 9868-HK, MBLY, XPEV, ADI, UNDEFINED, 9866-HK, NVDA, QCOM, NIO,
Keywords: business news, market insider, breaking news: technology, markets, stock markets, analog devices inc, earnings, technology, nvidia corp, xpeng inc, qualcomm inc, china, autos, mobileye global inc, nio inc, hesai group,