Tech Stocks React to Potential US Restrictions on AI Chip Exports to China
According to sources familiar with the matter, the Wall Street Journal reported on Tuesday that the US is contemplating imposing fresh limitations on the export of artificial intelligence chips to China.
Shares of Nvidia and Advanced Micro Devices (AMD) fell about 1.4% on the news.
Nvidia, Micron and AMD are US chipmakers caught in the crossfire of China and the Biden administration.
In September, Nvidia had said that US authorities asked the company to stop exporting two high-end computing chips for artificial intelligence work to China.
The Ministry of Commerce will stop supplying chips made by Nvidia and other chip companies to customers in China as early as July, according to the report.
The Commerce Ministry did not immediately respond to Reuters’ request for comment.
New curbs planned by the department would even ban the sale of A800 chips without a license, the report added.
