: U.S. plans new curbs on exports of chips, chip-making tools to China: report

0
10

The Biden administration plans to expand export restrictions for U.S. chip companies to China, according to a new report.

Reuters reported Sunday night that the new curbs on artificial-intelligence semiconductors and chip-making tools will be based on restrictions issued earlier this year in letters to KLA Corp. KLAC, +2.16%, Lam Research Corp. LRCX, +2.65% and Applied Materials Inc. AMAT, +2.90%.

The restrictions barred those companies from exporting semiconductor equipment to Chinese chip makers that were making sub-14-nanometer processes, unless first approved by the Commerce Department, according to Reuters.

Also read: 12 semiconductor stocks bucking the downcycle trend

The report said the new curbs would also codify restrictions sent last month to Nvidia Corp. NVDA, +2.84% and Advanced Micro Devices Inc. AMD, +3.23% against shipping certain AI chips to China. Nvidia shares sank to a 52-week low after disclosing the restrictions.

The broader restrictions could impact a number of other major tech companies, including Intel Corp. INTC, +2.31%, Dell Technologies Inc. DELL, +3.35% and Hewlett-Packard Enterprise Co. HPE, +1.44%, according to the report.

Reuters also said other restrictions may be added.

This article was originally published by Marketwatch.com. Read the original article here.

Previous articleU.S. stocks turn lower in volatile trade
Next articleLowe’s now offering same-day delivery nationwide through Instacart

LEAVE A REPLY

Please enter your comment!
Please enter your name here