Nvidia (NASDAQ: NVDA) spent Friday in the red as fresh headlines around China export restrictions collided with a risk‑off mood in tech. At 1:44 p.m. ET (18:44 UTC), NVDA traded around $184.77, after swinging between $179.05 and $189.46 intraday on heavy volume.
Key takeaways
- No China deal for Blackwell: CEO Jensen Huang said there are no active discussions to sell Nvidia’s next‑gen Blackwell AI chips into China, underscoring the impact of ongoing U.S. export controls. [1]
- Clampdown widens: U.S. officials are also blocking sales of scaled‑down Nvidia AI chips (B30A) to China, tightening restrictions beyond the flagship parts. [2]
- Macro weighs on tech: Broader market jitters over stretched valuations kept pressure on high‑multiple names, adding to NVDA’s rough week. [3]
- All eyes on Nov. 19: Nvidia will report Q3 FY26 results after the bell on Wednesday, Nov. 19 (2 p.m. PT call), a key catalyst after weeks of volatility. [4]
How NVDA is trading today
- Price/Range: As of early afternoon New York time, shares sat near $184.77, with an intraday low of $179.05 and high of $189.46. Volume was elevated versus typical days, reflecting ongoing headline risk.
- Week context: Friday’s weakness extends a difficult stretch for the stock after a sharp drop on Thursday; financial press characterized the move as the culmination of a bad week for the AI leader. [5]
What’s driving the move
1) China remains closed for Blackwell—for now
Speaking in Asia, CEO Jensen Huang said Nvidia isn’t in talks to ship Blackwell parts to China and reiterated that the company has no market share in China’s advanced AI datacenter compute, given U.S. restrictions and China’s own policy direction. Those comments push back on speculation of any near‑term workaround and keep China revenues outside of current guidance. [6]
2) Export controls tighten on scaled‑down chips
Beyond the flagship GB200/Blackwell line, U.S. officials are blocking sales of scaled‑back B30A accelerators to China, according to reporting cited Friday. That narrows Nvidia’s flexibility to serve Chinese demand even with less powerful parts, reinforcing the view that China is off the table near term. [7]
3) Valuation and AI spending debate
Friday’s slide also tracked a broader pullback in U.S. equities—especially high‑growth tech—amid renewed debate over AI infrastructure spending and valuations. Major indices extended losses into the end of the week, which compounded stock‑specific headlines for NVDA. [8]
4) The OpenAI overhang cools
Separately, OpenAI CEO Sam Altman sought to clarify that the company is not seeking government guarantees for its massive long‑term data‑center plans—commentary that has fed this week’s conversation about AI capex sustainability and market “froth.” The clarification helped refocus discussion on private‑sector economics ahead of Nvidia’s earnings. [9]
What to watch next (near‑term catalysts)
- Earnings — Nov. 19: Nvidia’s Q3 FY26 report lands after market close on Wednesday, Nov. 19 (with a 2:00 p.m. PT conference call). Expect intense focus on:
- Datacenter growth and Blackwell ramp vs. last quarter’s record levels,
- Guidance into the year‑end quarter,
- Any color on China (still excluded from guidance) and supply/packaging capacity. [10]
- Regulatory headlines: Any additional U.S. or Chinese policy moves on advanced AI chips could shift sentiment quickly—Friday’s reports already tightened the narrative. [11]
- Macro tone: With indexes on track for a losing week amid valuation concerns, broader risk appetite remains a swing factor for high‑beta AI leaders. [12]
Bottom line for today
On Nov. 7, 2025, Nvidia’s stock is trading lower as investors digest a firmer U.S. stance on AI chip exports and the CEO’s no‑deal message on China for Blackwell—while a cautious tape magnifies the move. The next hard data point is the Nov. 19 earnings report, where management’s outlook on datacenter demand, Blackwell supply, and non‑U.S. markets will be pivotal to rerating the shares after a volatile week. [13]
Disclosure: This article is for information purposes only and is not investment advice. Markets move quickly; prices cited reflect levels at approximately 1:44 p.m. ET on Nov. 7, 2025.
Sources: CEO and export‑control reporting (Reuters); market context (Reuters); stock performance commentary (Barron’s); Nvidia investor relations for earnings timing; real‑time pricing/volume (market data). [14]
References
1. www.reuters.com, 2. www.reuters.com, 3. www.reuters.com, 4. nvidianews.nvidia.com, 5. www.barrons.com, 6. www.reuters.com, 7. www.reuters.com, 8. www.reuters.com, 9. www.reuters.com, 10. nvidianews.nvidia.com, 11. www.reuters.com, 12. www.reuters.com, 13. www.reuters.com, 14. www.reuters.com
