Chip Stocks Jump as AMD Confirms It Recieved China AI Chip Export Licenses and Micron Raises Quarterly Results Forecast
Some chip stocks jumped in morning trading. Micron rose 5%; Intel and Arm rose 4%; AMD and Marvell Technology rose 3%; Super Micro rose 2%; Nvidia turned positive.
Nvidia and AMD have agreed to pay 15% of revenues from chip sales to China to the U.S. goverenment, the White House confirmed. Analysts said the deal is still positive for both AMD and Nvidia as they get access to a huge market.
AMD confirmed it recieved china ai chip export licenses.
Micron Technology on Monday raised its forecast for fourth-quarter revenue and adjusted profit, due to surging demand for its memory chips used in artificial intelligence infrastructure.
Intel CEO Lip-Bu Tan is expected to meet with US President Donald Trump, four days after Trump called for Tan’s resignation and accused him of having conflicts of interest.
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