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Nvidia, AMD to give US 15% cut from China chip sales revenue
Nvidia and AMD have agreed to give the US government 15 per cent of their revenue from chip sales in China in exchange for export licenses, the Financial Times reported, citing a US official.
The deal covers Nvidia's H20 chips and AMD's MI308 chips. It marks the first time US companies have paid a portion of their revenues to secure export permissions. Licenses for the Chinese market were granted last week under the arrangement, though the Trump administration has not yet decided how to use the funds.
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Export control experts say the move is unprecedented. Trump has previously urged companies and countries to invest in the US to 'buy down' tariff rates.
An Nvidia spokesperson told Reuters the company follows US rules for global markets. 'While we haven't shipped H20 to China for months, we hope export control rules will let America compete in China and worldwide,' the statement read.
The US commerce department began issuing licenses for Nvidia's H20 exports to China last week, clearing a major obstacle to the company's access to a key market. The US had reversed its April ban on H20 sales last month, after Nvidia had redesigned the chip to meet Biden-era AI export restrictions.
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26 minutes ago
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26 minutes ago
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"I may have to think about it in two weeks or three weeks or something, but we don't have to think about that right now." Trump has threatened sanctions on Moscow as well but has thus far not followed through, even after Putin ignored a Trump-imposed ceasefire deadline earlier this month. In the Fox News interview, Trump also suggested a meeting would now be set up between Putin and Ukrainian President Volodymyr Zelenskiy, which he might also attend. He gave no further details on who was organizing the meeting or when it might be. Putin made no mention of meeting Zelenskiy when speaking to reporters earlier. He said he expected Ukraine and its European allies to accept the results of the U.S.-Russia negotiation constructively and not try to "disrupt the emerging progress." He also repeated Moscow's long-held position that what Russia claims to be the "root causes" of the conflict must be eliminated to reach a long-term peace, a sign he remains resistant to a ceasefire. There was no immediate reaction from Kyiv to the summit, the first meeting between Putin and a U.S. president since the war began. Trump signaled that he discussed potential land swaps and security guarantees for Ukraine with Putin, telling Hannity: "I think those are points that we negotiated, and those are points that we largely have agreed on." "I think we're pretty close to a deal," he said, adding: "Ukraine has to agree to it. Maybe they'll say no." When asked by Hannity what he would advise Zelenskiy, Trump said, "Gotta make a deal." "Look, Russia is a very big power, and they're not," Trump added. The war has killed or injured well over a million people from both sides, including thousands of mostly Ukrainian civilians, according to analysts. Zelenskiy has ruled out formally handing Moscow any territory and is also seeking a security guarantee backed by the United States. Trump said he would call Zelenskiy and NATO leaders to update them on the Alaska talks. Trump was due to arrive back in Washington early on Saturday morning. As the two leaders were talking, the war raged on, with most eastern Ukrainian regions under air raid alerts. Governors of Russia's Rostov and Bryansk regions reported that some of their territories were under Ukrainian drone attacks. Russia's air defense systems intercepted and destroyed 29 Ukrainian drones overnight over various Russian regions, including 10 downed over the Rostov region, RIA agency reported on Saturday, citing the Russian defense ministry. The anticlimactic end to the closely watched summit was in stark contrast to the pomp and circumstance with which it began. When Putin arrived at an Air Force base in Alaska, a red carpet awaited him, where Trump greeted the Russian president warmly as U.S. military aircraft flew overhead. Putin is wanted by the International Criminal Court, accused of the war crime of deporting hundreds of children from Ukraine. Russia denies the allegations, and the Kremlin has dismissed the ICC warrant as null and void. Russia and the United States are not members of the court. Zelenskiy, who was not invited to Alaska, and his European allies had feared Trump might sell out Ukraine by essentially freezing the conflict and recognizing - if only informally - Russian control over one-fifth of Ukraine. Trump had sought to assuage such concerns on Friday ahead of the talks, saying he would let Ukraine decide on any possible territorial concessions. Asked what would make the meeting a success, he told reporters: "I want to see a ceasefire rapidly ... I'm not going to be happy if it's not today ... I want the killing to stop." The meeting also included U.S. Secretary of State Marco Rubio; Trump's special envoy to Russia, Steve Witkoff; Russian foreign policy aide Yury Ushakov; and Russian Foreign Minister Sergei Lavrov. Trump, who said during his presidential campaign that he would end the Ukraine war within 24 hours, conceded on Thursday it had proven a tougher task than he had expected. He had said if Friday's talks went well, quickly arranging a second, three-way summit with Zelenskiy would be more important than his encounter with Putin. Trump ended his remarks on Friday by telling Putin, "I'd like to thank you very much, and we'll speak to you very soon and probably see you again very soon." "Next time in Moscow," a smiling Putin responded in English. Trump said he might "get a little heat on that one" but that he could "possibly see it happening." Zelenskiy said ahead of Friday's summit that the meeting should open the way for a "just peace" and three-way talks that included him, but added that Russia was continuing to wage war. "It's time to end the war, and the necessary steps must be taken by Russia. We are counting on America," Zelenskiy wrote on Telegram. This article was generated from an automated news agency feed without modifications to text.
