White House: Nvidia and AMD to hand over 15% of their revenue in China, or expand to more companies

PANews reported on August 13th that, according to CNBC, the White House confirmed on the 12th that two US chip manufacturers, Nvidia and AMD, have agreed to a special agreement to pay 15% of their chip sales revenue in China to the US government in exchange for export licenses for the relevant products. The White House stated that the agreement could be expanded to include more companies in the future. White House spokeswoman Carolyn Levitt stated at a press conference that the agreement currently only involves these two companies, "but it may be expanded to other companies in the future." She also stated that the US Department of Commerce is still studying the relevant legal basis and specific operational methods, and further details will be provided by the Department of Commerce.