America Takes 15% for Chip Export Licenses to China
Wow: "Nvidia and AMD have struck an unprecedented agreement with the Trump administration to hand over 15 per cent of revenues from certain chip sales in China in exchange for export licences, the FT has reported, citing people familiar with the arrangement, including a U.S. official."
Good People, Trump has invented a new business model where nations will demand a percentage of revenue from companies for special access to markets. And this also tells us that Nvidia is doing so well that it can drop 15% and still be in it. When you add the contributions of America to capitalism, include this new form of taxation.
Yes, if Nigeria asks Dangote Cement for 2% of revenue for it to be allowed to export to Liberia, at least there is a global precedent. A new era in globalization is born with the veil lifted: anything has a price.
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Chipmakers Nvidia and AMD is set to give the U.S. government 15% of their Chinese chip sale revenues in exchange for Chinese export licenses, the Financial Times reports, citing anonymous sources. Nvidia will share proceeds from its previously-restricted H20 chip and AMD from its MI308 chip. The "unprecedented" deal, rooted in the Trump administration's aggressive push to bolster domestic investment, has drawn criticism from some U.S. security experts, who say it could undermine national security.