Wall Street is weighing risks to Nvidia’s operations in China after revelations about CEO Jensen Huang’s alleged connection to a suspected Chinese spy. New Street Research estimates that as much as 10% of Nvidia’s revenue may come directly or indirectly from China, equivalent to $37 billion to $47 billion. The consensus cited by New Street puts Nvidia’s total expected fiscal 2027 revenue at $411 billion. New Street classifies 6% of China-exposed revenue as legal sales into China and Hong Kong, while another 4% is officially booked outside China; half of that latter amount is estimated to be physically diverted into China. Nvidia shares fell about 5% on Monday, while the U.S. Commerce Department had already been investigating the company before the case was transferred to the Justice Department.
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