Lisa Su, chair and CEO of Advanced Micro Devices Inc., during the AMD Advancing AI event in San Jose, California, on Dec. 6, 2023.
Advanced Micro Devices said Tuesday that it will soon restart shipments of its MI308 artificial intelligence chips to China. The stock climbed 7% following the news.
The company said Tuesday that the U.S. Commerce Department plans to resume reviewing its license applications to send the products to the world's second-largest economy. AMD said it plans to start shipments once those are approved.
"We applaud the progress made by the Trump administration in advancing trade negotiations and its commitment to US AI leadership," an AMD spokesperson said in a statement to CNBC.
The news comes as tensions simmer between the U.S. and China following a heated trade war set off by President Donald Trump's tariff crusade that sent global markets spiraling.