Nvidia, AMD, and Other Chip Stocks Fall as Trump Curbs Exports to China
1. AMD expects up to $800 million charges due to export restrictions. 2. Nvidia and AMD shares fell over 6% post-announcement. 3. Export licenses required for selling MI308 chips to China. 4. The PHLX Semiconductor Index dropped 4% amid broader chip stock declines. 5. Nvidia anticipates $5.5 billion charge affecting its fiscal results.