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AMD Joins NVDA Plunge After Huge Hit From U.S. Export Chip Controls
AMD Joins NVDA Plunge After Huge Hit From U.S. Export Chip Controls Update (0937ET): The U.S. Commerce Department announced new export licensing requirements Tuesday evening for Nvidia's H20 AI chips and AMD's MI308 chips bound for China. In response, Nvidia disclosed that it would incur a $5.5 billion charge due to the restrictions on H20 exports, while AMD revealed that it could face nearly $1 billion in related charges from the new export controls. *AMD SEES UP TO $800M CHARGE
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