Chip giants Nvidia and AMD to pay 15% of China revenue to US
Summary
Nvidia and AMD, two major chip-making companies, agreed to give 15% of their sales from China to the US government. This deal is part of their effort to get permission to sell their products in China, after facing restrictions due to security concerns.Key Facts
- Nvidia and AMD are required to pay the US government 15% of their sales revenue from China.
- The payment is tied to securing export licenses for selling semiconductors in China.
- The specific chips involved are Nvidia's H20 and AMD's MI308 chips.
- The US previously banned the sale of Nvidia's H20 chips to China due to security concerns.
- Nvidia's CEO Jensen Huang has been actively working to resume sales in China.
- The Biden administration enforced export restrictions in 2023, impacting chip sales.
- This arrangement allows sales to continue amid previous bans by the Trump administration.
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