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Intel and AMD stocks fall on reports of Chinese restrictions on US chips
Intel and AMD witnessed their stock price fall more than 2% on Monday following reports indicating China would restrict the use of their chips
In recent days, the Beijing administration has set out fresh guidelines to effectively phase out US chips from Intel and AMD with further plans to jettison Microsoft as part of a protectionist ploy to favor and support domestic providers. China has been pouring significant resources into its semiconductor industry in recent times as it contends with moves from Washington to restrict and stifle the export of the highly sought-after chips, especially those on the cutting edge of development. As part of these measures, the country’s leading chipmaker SMIC has established new production lines in Shanghai to manufacture next-generation 5-nanometer (5nm) mobile processors.
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