Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

AMD says U.S. told it to stop shipping top AI chip to China

Published 08/31/2022, 06:40 PM
Updated 08/31/2022, 06:46 PM
© Reuters. FILE PHOTO: Signs of AMD are seen at the China Digital Entertainment Expo and Conference, also known as ChinaJoy, in Shanghai, China July 30, 2021.REUTERS/Aly Song

(Reuters) - Advanced Micro Devices (NASDAQ:AMD) Inc on Wednesday said U.S. officials have told it to stop exporting its top artificial intelligence chip to China, according to a spokesman.

The company said new license requirements prevent shipment of its MI250 chips to China but it believes its MI100 chips are not affected by the new requirement. The company said it does not believe the new rules will have a material impact on its business.

AMD shares had been down 2% in after-hours trading after rival Nvidia (NASDAQ:NVDA) said the new rules could cost it up to $400 million is sales.

Latest comments

and the world economy is getting worst like never before due to all these u.s. politicians...they will caused future generations to suffer and they forgotten this applies to their children futures. really bunch of hopeless ppl.
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.