US Revokes Intel, Qualcomm Licenses to Sell Chips to Huawei [Yahoo! Finance Canada]
Intel Corporation (INTC)
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Source: Yahoo! Finance Canada
people familiar with the matter, further tightening export restrictions against the Chinese telecom equipment maker. Most Read from Bloomberg Withdrawal of the licenses affects US sales of chips for use in Huawei phones and laptops, according to the people, who discussed the move on condition of anonymity. House Foreign Affairs Committee Chairman Michael McCaul confirmed the administration's decision in an interview Tuesday. He said the move is key to preventing China from developing advanced AI. ADVERTISEMENT “It's blocking any chips sold to Huawei,” said McCaul, a Texas Republican who was briefed about the license decisions for Intel and Qualcomm. “Those are two companies we've always worried about being a little too close to China.” The US Commerce Department confirmed the withdrawal of “certain licenses” for exports to Huawei, but declined to offer specifics. “We continuously assess how our controls can best protect our national security and foreign policy interests,” th
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