AMD Stock Is Sliding Tuesday: What's Going On?
Portfolio Pulse from Adam Eckert
Shares of Advanced Micro Devices Inc (AMD) are trading lower after the Biden administration announced plans to halt advanced AI chip shipments to China. The new rules aim to prevent China from using US AI technologies to strengthen its military. The measures will restrict shipments of advanced chips and chipmaking tools to China, Iran, and Russia. Earlier this year, AMD announced a 'big bet' on the AI boom by integrating AI into its product portfolio.
October 17, 2023 | 1:38 pm
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AMD's stock price is likely to be negatively impacted in the short term due to the US government's decision to halt AI chip shipments to China, a potential market for AMD's AI-integrated products.
The US government's decision to halt AI chip shipments to China directly impacts AMD, which has been integrating AI into its product portfolio. This could limit AMD's potential market, leading to a decrease in its stock price.
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