Wells Fargo supports AMD, eyes AI future, despite US warning against Chinese computer chips

From Yahoo Finance: 2025-05-20 15:00:00

The United States issued guidance warning against using advanced computer chips from China, including Huawei’s Ascend AI chips. China has urged the US to correct its actions, calling them discriminatory. The US Commerce Department imposed stricter restrictions on Chinese chip products last week, alleging violations of export controls. China opposes these measures, stating they distort the market and harm Chinese companies. China plans to protect its rights and interests if the US continues to cause harm. In related news, Wells Fargo backs Advanced Micro Devices Inc. (AMD) after a recent sale and eyes the AI future with new product introductions and partnerships.



Read more at Yahoo Finance: Wells Fargo Backs Advanced Micro Devices Inc. (AMD) After ZT Sale, Eyes AI Future