Marvell Technology shares are trading lower amid reports of the U.S. planning to revise its export controls on AI chips to limit China's access to advanced technologies with military applications.
Portfolio Pulse from Benzinga Newsdesk
Marvell Technology's shares are trading lower due to reports of the U.S. planning to revise its export controls on AI chips, which could limit China's access to advanced technologies with military applications.
June 28, 2023 | 12:30 pm
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Marvell Technology's stock price is negatively impacted by the potential U.S. export control revisions on AI chips, which could limit their market in China.
The U.S. planning to revise its export controls on AI chips could limit Marvell Technology's access to the Chinese market, which is a significant consumer of AI chips. This could lead to a decrease in their revenues and thus negatively impact their stock price.
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