According to The Kobeissi Letter, AMD announced that US chip export controls to China will apply to their MI308 products, potentially leading to charges of up to $800 million. This announcement has caused AMD's stock to drop by more than 7%. Investors should watch for further developments as these controls could impact AMD's revenue streams significantly.

According to The Kobeissi Letter, AMD has announced that US export controls on chips to China will affect their MI308 products. The company anticipates charges up to $800 million, causing AMD's stock to plummet by over 7%. This significant drop in stock price highlights the potential financial impact of these export restrictions on AMD's trading outlook.