Chips Stocks Rise as U.S. Plans to Overhaul Curbs on AI Chip Exports

Dow Jones05-08

By Kelly Cloonan

Chip stocks rose across the board as the Trump administration plans to overhaul export regulations on U.S. chip companies.

Shares of Advanced Micro Devices climbed 3.8% to $104.20 on Thursday. Intel rose 2.3%, while Qualcomm and Broadcom both ticked up around 1%. Nvidia shares remained flat.

The Commerce Department plans to replace a rule proposed by the Biden administration that would limit how many artificial-intelligence chips countries like India, Switzerland, Mexico and Israel can buy, a spokeswoman said.

The rule, commonly known as AI diffusion, had been set to go into effect May 15. It aimed to prevent other countries from routing U.S. chips to adversaries like China, but was seen as controversial across the tech industry. Companies like Microsoft and Oracle argued it would harm American companies' business prospects abroad without doing much to hinder China.

Other regulations appear to remain for now, though. The Trump administration recently issued new export-licensing requirements covering Nvidia's H20 chips, which the company said would result in a $5.5 billion charge on its quarterly earnings. AMD's MI308 processors also are affected, with the company expecting charges of $800 million.

Write to Kelly Cloonan at kelly.cloonan@wsj.com

(END) Dow Jones Newswires

May 08, 2025 10:48 ET (14:48 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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