Shares of Advanced Micro Devices fell over 7% on Wednesday, according to CNBC. The chipmaker disclosed it may face up to $800 million in charges due to new U.S. export restrictions affecting shipments of its chips to China and other countries. AMD said it plans to apply for export licenses but warned there is no approval guarantee. The policy change impacts inventory, purchase commitments, and reserves. AMD’s chips are central to its AI and high-performance computing strategy.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Shares of advanced micro devices fell over 7% on Wednesday, according to CNBC.
00:07Chipmaker exclusive may face up to $800 million in charges due to new U.S. export restrictions
00:11affecting shipments of its chips to China and other countries.
00:15AMD said it plans to apply for export licenses, but warned there is no guarantee of approval.
00:20Policy change impacts inventory, purchase commitments, and reserves.
00:24AMD's chips are central to its AI and high-performance computing strategy.
00:28For all things money, visit Benzinga.com slash GSTV.