NVDA and AMD Stocks Rise After US Approves Three Chinese Firms for Advanced Chip Purchases

NVDA4.36%
AMD3.34%
ZTE-0.56%
BABA0.22%
TENCENT-0.30%

According to Reuters, on Monday, July 14, Nvidia and AMD stocks rose 3.5% and 4%, respectively, after three Chinese firms received U.S. approval to purchase advanced chips. ZTE Kangxun Telecom and server maker Maginfra were cleared to buy Nvidia's H200 processors, while Zhuhai Hengqin Yunxiang Zhisheng Network Technology was authorized to purchase AMD chips rivaling the H200.

The approvals follow similar U.S. authorizations granted in May to around 10 Chinese companies including Alibaba, Tencent, ByteDance, and JD.com.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments