AMD Predicts US$800 Million Hit From U.S. Chip Exports Crackdown

U.S. chipmaker AMD says it could take a hit of up to US$800 million after new U.S. restrictions on chip exports.

Transcript

00:00American chipmaker AMD says it could lose up to 800 million U.S. dollars because of new U.S. restrictions on chip exports.

00:09The White House has announced that special licenses will be needed to sell certain AI chips to China.

00:15AMD says it plans to apply for those licenses, but there's no guarantee it will get them.

00:21China was the company's second largest market last year.

00:24Rival chipmaker Nvidia also expects losses of about US$5.5 billion under the new rules.

00:32Shares in both companies fell between 6% and 7% on Wednesday.