Why Nvidia can absorb the hit from U.S. restrictions on AI chip exports to China

Every weekday the CNBC Investing Club with Jim Cramer holds a Morning Meeting livestream at 10:20 a.m. ET. Here’s a recap of Tuesday’s key moments. 1. U.S. stocks were choppy in midmorning trading Tuesday, with stocks set to close out a third-straight month of losses. The S & P 500 and the Nasdaq Composite were both oscillating between small losses and gains. Jim Cramer said that there’s currently a “disconnect” in the market, but added: “This, too, shall pass.

“This is a $70 stock at a minimum,” Jim said, urging investors not to sell it. Stay tuned for a detailed Club analysis on both earnings reports later Tuesday. 3. New U.S. restrictions on chip exports to China could cancel billions of dollars in upcoming orders for Club holding Nvidia (NVDA), The Wall Street Journal reported Tuesday. A spokesperson for Nvidia said the artificial-intelligence chipmaker is working to allocate those chips to customers in the U.S.

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