Nvidia and AMD to pay US 15% of China revenues in rare export deal
Summary
Nvidia Corp (NASDAQ:NVDA, ETR:NVD) and Advanced Micro Devices Inc (NASDAQ:AMD, ETR:AMD) have struck an unprecedented agr...
Nvidia Corp (NASDAQ:NVDA, ETR:NVD) and Advanced Micro Devices Inc (NASDAQ:AMD, ETR:AMD) have struck an unprecedented agreement to pay the US government 15% of their revenues from chip sales in China to secure export licences. This follows US restrictions on advanced chips, particularly those used in artificial intelligence, amid national security concerns.