The United States restricted chip exports to China, and a company recently launched the first AI laptop but installed Intel’s new Core Ultra processor, triggering a strong backlash from the U.S.
The U.S. Department of Commerce took corrective measures, revoking export licenses for Intel and Qualcomm. Intel’s stock price fell sharply by more than 2%, while Qualcomm remained steady for the time being.
Notably, China had already announced that certain institutions would stop purchasing computers and servers with American-made Intel and AMD processors and fully switch to domestic supply chains.
This ban by the U.S. seems to respond to China’s policy call, effectively harming American manufacturers.
According to U.S. Securities and Exchange Commission (SEC) filings disclosed on the 8th, Intel reported that the U.S. Department of Commerce revoked the license to export consumer products to Chinese customers, effective immediately.
While Intel did not specifically name its customers, the U.S. revoked export licenses for both Intel and Qualcomm to a certain Chinese company.
In its latest statement, Qualcomm confirmed its export license had been revoked and emphasized its compliance with all applicable export control regulations.
Intel’s second-quarter revenue forecast remains unchanged at $12.5 billion to $13.5 billion but warned it might fall below the midpoint.
SEC filings showed that the Chinese market accounted for 27% of Intel’s total revenue in 2023, with the export licenses impacting 6% of its revenue. Meanwhile, the Chinese market accounted for 62% of Qualcomm’s total revenue in 2023.
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