Tech companies Nvidia and AMD have agreed with the US authorities to obtain a license to export chips to China in exchange for paying 15% of the revenue from sales of AI products on the Chinese market, the Financial Times (FT) and the New York Times (NYT) reported.
The deal concerns the supply of H20 chips from Nvidia and MI308 from AMD. According to a NYT source, Nvidia CEO Jensen Huang met with US President Donald Trump at the White House on August 6, where the parties reached an agreement. Just two days after the negotiations, the US Department of Commerce issued licenses for the export of both models.
Experts from the publications call the agreement between the US and technology companies “unprecedented” – previously, no American corporation agreed to transfer part of its profits to the state in exchange for the right to export its products. “We follow the rules established by the US government for our presence in world markets,” Nvidia commented to the FT.
In July, the US authorities granted Nvidia preliminary permission to export chips to China, but, as the NYT source specifies, no actual license for deliveries was issued. Previously, the company was accused of violating sanctions by supplying chips to China, but Nvidia claims that there is no evidence to support these accusations. At the same time, according to the FT, Nvidia processors for AI worth about $1 billion were imported to China in three months, despite the current restrictions.
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