Cramer: Nvidia still likely to outperform other U.S. chipmakers despite China woes
This spells trouble for rivals such as Advanced Micro Devices (AMD) and Intel (INTC).
Troov
The latest U.S. restrictions on AI chip sales in China won't dethrone Nvidia (NVDA) as the world's most valuable semiconductor company, CNBC's Jim Cramer said Wednesday.
Instead, this spells trouble for rivals Advanced Micro Devices (AMD) and Intel (INTC).
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The impact of the updated export controls will heat up competition in the U.S. market further, Cramer said on "Squawk on the Street."
Nvidia has already grabbed lots of market share by providing the likes of Alphabet (GOOGL) and Microsoft (MSFT) with chips crucial to running their artificial intelligence efforts, he added.
Shares of Nvidia, up a whopping 200% year-to-date, edged lower after Wednesday's opening.
Nvidia, Alphabet and Microsoft are stock holdings in Jim's Charitable Trust, the portfolio used by the CNBC Investing Club.
Here's a full list of the stocks in Jim's Charitable Trust, the portfolio used by the CNBC Investing Club.
