U.S. Chipmakers Agree to Revenue Sharing for Export Licenses

According to PANews, the White House confirmed on August 12 that U.S. chip manufacturers Nvidia and AMD have agreed to a special arrangement requiring them to remit 15% of their chip sales revenue in China to the U.S. government. This agreement is part of a deal to obtain export licenses for their products. The White House indicated that this arrangement might be extended to include more companies in the future. White House spokesperson Caroline Levitt stated during a press briefing that currently, the agreement only involves these two companies, but it could potentially be expanded to other firms. She also mentioned that the U.S. Department of Commerce is still examining the legal basis and operational details of the agreement, with further specifics to be provided by the department.