Proactive Investors - Washington has revoked certain export licences granted to American chipmakers for supplying goods to Huawei, following the Chinese tech giant's launch of an AI computer using an Intel chip.
America's Department of Commerce did not specify which permits were cancelled, though the decision is part of ongoing US restrictions on technology exports to Huawei since 2019, citing security concerns linked to the Chinese military.
According to reports both Intel Corp (NASDAQ:INTC) and Qualcomm (NASDAQ:QCOM) are affected by the embargo.
Action of this kind has intensified under scrutiny from US lawmakers, including criticism from Republican Congresswoman Elise Stefanik, who attributed the government's move to congressional pressure.
It also reflects broader US-China tensions, including recent legislation potentially banning TikTok unless sold by its Chinese owners.
Amid the restrictions, Huawei showed signs of resurgence, notably with the recent Mate 60 Pro smartphone launch.