Shares of Advanced Micro Devices Inc. (NASDAQ:AMD) climbed 5% in premarket trading Tuesday after the chipmaker received clearance from the U.S. government to resume exports of its MI308 artificial intelligence chips to China, according to a report from Bloomberg.
An AMD spokesperson confirmed to Bloomberg that the U.S. Commerce Department notified the company that its license applications for the MI308 chip series would now proceed for review.
The shift marks a notable policy change from the administration of President Donald Trump, which had previously upheld strict export controls on advanced semiconductor technology to China. The reversal follows a recent meeting between Trump and Nvidia CEO Jensen Huang, and comes amid signs of easing tensions between the U.S. and China.
Back in April, AMD warned that restrictions on the MI308 chips could result in revenue losses of up to $800 million.
Nvidia (NASDAQ:NVDA) was recently granted similar approval to restart shipments of its H20 AI chips to the Chinese market—an outcome that analysts believe could generate billions of dollars in added revenue for the company this year.
The Commerce Department’s latest move may signal a broader easing of AI chip export curbs, as Washington weighs national security concerns against economic interests in the competitive semiconductor sector.
Advanced Micro Devices stock price
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