Shares of Advanced Micro Devices (NASDAQ:AMD) jumped over 7% on Tuesday after the company stated that it will resume shipments of its MI308 chips to China after receiving the US government approval. The California-based chip company’s spokesperson told Bloomberg that the U.

Nvidia Corp. and Advanced Micro Devices Inc. plan to resume sales of some AI chips in China after securing Washington’s assurances that such shipments would get approved, a dramatic reversal from the Trump administration’s earlier stance on measures designed to limit Beijing’s AI ambitions.