U.S. revoking licenses to supply chips to China’s Huawei, FT reports

The Biden administration has revoked export licenses that allow Intel (INTC) and Qualcomm (QCOM) to supply Huawei with semiconductors, reported Financial Times’ Demetri Sevastopulo. The Commerce Department’s move affects the supply of chips for Huawei’s laptop computers and mobile phones, people familiar with the situation told Financial Times. The Commerce Department confirmed to the Financial Times that it had “revoked certain licenses for exports to Huawei,” but did not name which U.S. companies would be affected, the report noted. Other publicly traded semiconductor companies include AMD (AMD), Marvell (MRVL), Microchip (MCHP), Micron (MU), Nvidia (NVDA) and Texas Instruments (TXN).