Nvidia Corp (NASDAQ:NVDA) stock is trading lower Thursday in line with the broader indexes Invesco QQQ Trust, Series 1 (NASDAQ:QQQ), and SPDR S&P 500 (NYSE:SPY) as the rising Treasury yields continue to take a toll on the growth sectors.
At the same time, China extends its Apple Inc (NASDAQ:AAPL) iPhone ban in sensitive departments encompassing government-backed agencies and state companies.
China’s moves mark its retaliation against U.S. semiconductor technology sanctions and embargoes on companies like Huawei Technologies Co, Ltd, a rival of both Nvidia and Apple.
Several U.S. chipmakers, including Nvidia, had already canvassed the U.S. government to go a little softer on its China policy, considering their significant exposure to the country.
Huawei seems in no mood to spare as it launched a smartphone with an advanced made-in-China processor.
Meanwhile, Asensus Surgical, Inc (NYSE:ASXC) stock is on a roll after it tapped Nvidia to accelerate the development of Asensus’s Intelligent Surgical Unit (ISU) and improve its ability to deliver novel clinical intelligence to surgeons.
The medical device company will utilize a broad suite of Nvidia tools to enhance the augmented intelligence capabilities of its ISU.
Asensus’s ISU is built with Nvidia accelerated computing technology and has brought real-time augmented intelligent features to surgeons since 2021.
The trillion-dollar chip designer has gained 220% YTD as it helps to integrate AI technology across multiple industries.
Price Action: NVDA shares traded lower by 3.07% at $456.18 on the last check Thursday.
