The United States beefed up its effort to cut off the flow of advanced technology to China by instructing Nvidia Corp and Advanced Micro Devices to stop sending their flagship artificial intelligence chips there.
While the news shocked the chip sector by the time markets closed Thursday, sending the Philadelphia semiconductor index down 1.9% and Nvidia and AMD down 7.6% and 3% respectively, the letters from the U.S. officials appeared to target a narrow but critical part of China‘s computing industry.
