The release later this year is the latest maneuver between China and the U.S. as they try to control the flow of powerful AI chips.

US export restrictions are expected to accelerate China's push for self-reliance, including efforts to shift the chip supply chain onshore Huawei Technologies will roll out its new Ascend 920 artificial intelligence (AI) chip later this year,

Nvidia Corp.’s shares were tumbling in after-hours trading Tuesday, after the chip giant disclosed in a regulatory filing that it expects to include charges of up to $5.5 billion in its fiscal first quarter related to licensing of its chips to the Chinese market.