China has quietly asked EV makers like BYD and Geely to sharply boost their purchases from local chipmakers in order to reduce reliance on Western imports, a move which may hurt Nvidia (NVDA), NXP (NXPI), and other EV chip suppliers, Bloomberg reports.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on NVDA:
- Believe It or Not, Nvidia Stock (NASDAQ:NVDA) Still Isn’t Expensive
- Nvidia Enhances Executive Compensation and Shareholder Meeting Bylaws
- #SocialStocks: House passes bill to ban TikTok
- ‘Don’t Overlook This Big Opportunity,’ Says Top Analyst Matthew Ramsay About Nvidia Stock
- Render (RNDR-USD): An AI Play in Crypto