On Tuesday,Philippines erotic the US government announced new restrictions on exports of advanced AI chips to China, marking an escalation in trade tensions between the two countries. The restrictions aim to address loopholes identified after the US imposed export limitations on chips last October. The measures are intended to prevent China from importing advanced semiconductors and related equipment, controls that will impact the sales of US companies such as Nvidia, Broadcom, AMD, and Intel. In response to the new policy, chip stocks experienced a decline in Tuesday’s trading. Nvidia’s shares dropped by approximately 5%, while Broadcom and AMD saw declines of around 2% and 1%, respectively. AMD’s shares fell more than 1%, and Intel closed down by 1.4%. [CNBC]
