The US Department of Commerce has banned China’s Huawei from buying semiconductors from Qualcomm and Intel, Bloomberg writes. As explained by the chairman of the House Foreign Affairs Committee, Michael McCaul, this measure aims to prevent the development of advanced AI in China.
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The US Department of Commerce revoked licenses that would have allowed Intel and Qualcomm to sell semiconductors to Huawei for its smartphones and laptops.
According to McCall, the revocation of the licenses “blocks the sale of chips to Huawei.” The issue of imposing sanctions on six companies from the People’s Republic of China, which officials say may provide chips to Huawei, is currently being discussed.
“We continually evaluate how our controls can best protect our national security and foreign policy interests, taking into account the evolving threat environment and technological landscape,” the Commerce Department said.
Following the news of the license revocation, Qualcomm shares lost 0.9% in price and were worth $180.15 per share. Intel’s share price was unchanged.
As Qualcomm previously said, the company’s cooperation with Huawei has almost ceased and will soon end completely.
According to the newspaper, Huawei is not on the list of the 10 largest customers of Qualcomm and Intel.
US officials first called for licenses to sell Huawei chips to be revoked in August 2023.
Author:
Natalia Gormaleva
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
