AMD Shares Rise as U.S. Reviews China Export Applications

Shares of Advanced Micro Devices (AMD) rose for a second consecutive day on Wednesday, driven by optimism over the potential resumption of MI308 chip exports to China. The gains followed reports that the U.S. Commerce Department will review applications for licenses to sell the chips in China, sending AMD shares up more than 6% on Tuesday and another 3% on Wednesday, closing at approximately $160—the highest level since late October.

The move comes after rival Nvidia announced plans to resume exports of its H20 chips to China, following indications from the U.S. administration that export restrictions imposed in April would be lifted. AMD previously stated it could face charges of up to $800 million related to the MI308 chip export restrictions, while Nvidia estimated potential impacts of $5.5 billion.

AMD shares have more than doubled since their low in early April and are up 33% so far in 2025, surpassing Nvidia's 28% year-to-date gain. Technical analysis shows AMD shares broke out of a consolidation pattern on high trading volume, with a 'golden cross' chart signal forming as the 50-day moving average crossed above the 200-day moving average. Analysts are watching resistance levels around $187 and $215, while support is seen near $148 and $123.