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Investing.com -- Advanced Micro Devices (NASDAQ:AMD) Inc. plans to restart shipments of its MI308 chips to China after receiving approval from the US government, following a similar decision for Nvidia Corp . (NASDAQ:NVDA)
An AMD spokesman said told Bloomberg Tuesday that the US Commerce Department informed the company that license applications for the MI308 products would move forward for review.
This policy shift represents a reversal for President Donald Trump’s administration, which had previously maintained that restrictions on chip sales to China were not negotiable. The change comes amid improving relations between the two countries and follows a meeting between Nvidia CEO Jensen Huang and Trump last week.
AMD had stated in April that export restrictions on the MI308 chips would result in approximately $800 million in lost revenue.
Nvidia recently received similar approval to resume shipments of its H20 AI chip to China, a decision that could potentially add billions to Nvidia’s revenue this year.
AMD shares rose 5% in premarket trading on Tuesday.
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