Advanced Micro Devices, Inc (NASDAQ:AMD) stock is trading lower Tuesday amid reports of the Nvidia Corp (NASDAQ:NVDA) rival struggling to sell its tailored artificial intelligence chip in China.
The U.S. Department of Commerce has applied export restrictions on high-powered AI processors. AMD, seeking to cater to its Chinese clientele, proposed a chip compliant with U.S. export standards, featuring lower capabilities than those available internationally.
However, U.S. authorities deemed the chip excessively advanced, mandating a Bureau of Industry and Security license for its distribution.
The U.S. continues to tighten controls …