TECH - Intel Qualcomm Export Licenses Revoked By US Tech Giants Won't Be Able To Sell Chips To Huawei: Report (UPDATED) | Benzinga
Editor's note: This story has been updated with Intel’s disclosure to the SEC regarding its revenue expectations for the second-quarter of 2024.
The United States has revoked the export licenses of Intel Corp (NASDAQ:INTC) and Qualcomm Inc. (NASDAQ:QCOM) to sell chips to China’s Huawei Technologies Co Ltd.
What Happened: The U.S. Commerce Department has revoked the licenses that allowed Intel and Qualcomm, among others, to export chips used in laptops and handsets to Huawei, Reuters reported citing people familiar with the matter. The licenses were reportedly withdrawn with immediate effect.
The move comes after the recent launch of Huawei’s first AI-enabled laptop, the MateBook X Pro, powered by Intel’s new Core Ultra 9 processor. This launch drew criticism from Republican lawmakers, who suggested that the Commerce Department had approved Intel to sell the chip to Huawei.
“We have revoked certain licenses for exports to Huawei,” the Commerce Department said.
The Commerce Department’s decision, which was influenced by Republican China hawks in ...