TECH - What's Going On With Key AI Stocks AMD Intel Nvidia On Friday? | Benzinga
Advanced Micro Devices, Inc. (NASDAQ:AMD) and Intel Corp (NASDAQ:INTC) face challenges in China, where the East Asian country retaliated against the U.S. semiconductor sanctions by eliminating foreign technology from its telecom systems.
In 2024, Chinese officials directed major telecom carriers to phase out foreign processors, notably impacting American chip giants Intel and AMD. China set the deadline for 2027.
This Ministry of Industry and Information Technology directive accelerates Beijing’s ambitions to end the use of foreign core chips in its telecom infrastructure.
The Wall Street Journal reports that China tasked its telecom operators with inspecting their networks for non-Chinese semiconductors and planning their replacement.
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The key AI beneficiaries, including Nvidia Corp (NASDAQ:NVDA), AMD, and Intel stock, are trading lower Friday following the report. Previously, Nvidia claimed there was no material ...