AMD forecasts $1.5 billion revenue hit from US curbs on China chip exports

Advanced Micro Devices on Tuesday forecast a $1.5 billion hit to revenue this year due to new US curbs on chips, which require the company to obtain a license to ship advanced artificial-intelligence processors to China. But it issued a second-quarter revenue forecast that topped Wall Street estimates, which analysts attributed to customers buying more chips ahead of tariffs. Its shares were last up about 1% in after-hours trading after rising as much as 6% and falling as much as 3.5%.

Under the Biden and Trump administrations, the U.S. has pursued…