AMD Denied US Approval to Sell Weaker AI Chip to China Due to Export Restrictions
• AMD attempted to sell an AI chip catering to the Chinese market but was denied approval by the U.S. Department of Commerce
• The chip was designed to meet U.S. export restrictions by being weaker than AMD's non-Chinese chip versions
• The U.S. has moved to restrict exports of advanced AI chips to China to limit access to technology that could aid China's military
• Export restrictions have already hampered chip sales to China for companies like Nvidia
• Analyst consensus on AMD stock is a Strong Buy rating based on mostly Buys, although AMD stock has already skyrocketed over 100% in the last year