AMD Faces $800M Charge on China Export Curbs

Advanced Micro Devices (AMD) announced it could face charges of up to $800 million after new U.S. export controls restricted sales of its MI308 AI chips to China and other jurisdictions, resulting in a stock drop of more than 7%. The company is seeking export licenses but has cautioned that there is no guarantee they will be granted, with the charges relating to inventory, purchase commitments, and related reserves. This development is part of broader U.S. efforts to tighten semiconductor exports for national security purposes and follows a similar $5.5 billion writedown warning from rival Nvidia. The announcement also triggered declines in AI-focused cryptocurrency tokens, including SingularityNET (AGIX) and Fetch.AI (FET), as investors feared a slowdown in AI development. Despite the potential hit, AMD asserts its financial health and liquidity are strong enough to manage the charges, but it warns of ongoing regulatory risks and uncertainties.