NVIDIA, AMD Resume AI Chip Exports to China, Supply Chain Benefit

The US government has eased its export controls on advanced AI chips to mainland China, with NVIDIA and AMD confirming approval to resume shipments of select products such as the NVIDIA H20 and AMD MI308. This policy adjustment is expected to help clear semiconductor inventory across the supply chain, benefiting key players like TSMC, Chroma ATE, Unimicron, Taiguang, and Taiyo Yuden.

This shift reflects a more precise, tiered approach by US authorities to technology trade—balancing national security with commercial interests. The previous export ban on high-end AI chips caused substantial losses for chipmakers, including inventory write-downs. NVIDIA alone estimated a $2.5 billion revenue loss from China and a $4.5 billion inventory impact, with an additional $800 million hit projected for Q2. The partial relaxation of restrictions now offers a pathway to recover some of these losses and accelerate inventory turnover.

China's AI infrastructure development is likely to accelerate with the policy shift. Analysts also foresee growth opportunities for companies like Broadcom and Marvell amid the recovering demand.

AMD is expected to ramp up product innovation in response, aiming to boost its competitiveness. Related stocks may benefit, including those involved in advanced packaging and chip testing. For instance, AMD's Turin CPU leverages TSMC's N3 process, while the MI325X utilizes the N5 process combined with CoWoS packaging. Chroma ATE supports AI accelerator testing with SLT Testers, and WinWay offers CPU/GPU test sockets tailored for these applications.