Key Points
June 28 (Reuters) - Shares of U.S. chipmakers fell in premarket trading on Wednesday following a report that the Biden administration is planning new curbs on export of computing chips for artificial intelligence to China as early as July...
Advanced Micro Devices (AMD.O) and Intel (INTC.O) fell as they get trapped in the U.S.-China crossfire...
Nvidia fell 4%, Advanced Micro Devices 3.3% and Intel 0.7%, while futures tracking the tech-heavy Nasdaq 100 index edged 0.5% lower...
"With an update on export controls now expected, investors will assess just how limiting the new rules will be for chip makers' sales," said Susannah Streeter, head of money and markets, Hargreaves Lansdown...
Rising expectations over the advancements in AI has helped Wall Street gains this year, with Nvidia at the pole position on the S&P 500 index with its 187% jump so far this year...
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