AMD says it will restart MI308 sales to China after US review
The US Commerce Department told AMD that license applications for the MI308 products would move forward for review, an AMD spokesman said Tuesday.
Allowing the products back into China is a reversal for President Donald Trump's administration, which spent weeks insisting that curbs on chips sales to the Asian country were not up for discussion. The news comes after weeks of thawing ties between the two nations as well as Nvidia Chief Executive Officer Jensen Huang's meeting with Trump last week.
AMD said in April that export restrictions on the MI308 chips would cost the company about $800 million.
Earlier, Nvidia similarly said the government had agreed to green-light shipments of its H20 AI chip to China, a decision that could add billions to the company's revenue this year.
AMD shares rose 5% in premarket trading on Tuesday. The stock closed at $146.24 on Monday and has gained 21% this year. –BLOOMBERG
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