By Elsa Ohlen
Chip stocks fell after new licensing requirements were imposed for the export of some artificial-intelligence semiconductors to China.
The U.S. government will require licenses for the export of Nvidia's H20 and Advanced Micro Devices' MI308 AI chips as well as their equivalents, for the indefinite future.
AMD stock plunged 6.1% to $89.51 in premarket trading Wednesday after the news was announced late Tuesday.
Shares of Qualcomm, Micron, Broadcom and Marvell all fell between 2% to 4%. Nvidia stock fell 5.7% to $105.78.
"A warning from AI chips champion Nvidia that it will face a $5.5 billion hit from tightened U.S. controls on exports to China marks a new chapter in the escalating tit-for-tat between Washington and Beijing," AJ Bell investment director Russ Mould said.
Write to Elsa Ohlen at elsa.ohlen@barrons.com
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(END) Dow Jones Newswires
April 16, 2025 06:12 ET (10:12 GMT)
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