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Following the new restrictions, Nvidia said it would take a $5.5 billion write-down on inventory. Analysts called it the biggest write-down in the history of the chip industry. The potential impact on future revenue is hefty.

“This inventory write-off implies a $15 billion H20 revenue hit on a rolling 12-month basis,” wrote David O’Connor, an analyst at BNP Paribas, in a report Tuesday.

For the quarter ended in April, analysts expect Nvidia to post 66% revenue growth to $43.28 billion, according to LSEG. While that level of growth is much higher than the kind of expansion at any of Nvidia’s megacap peers, it marks a sharp deceleration from a year ago, when the company recorded growth of more than 250%.