09:36 AM EDT, 03/12/2024 (MT Newswires) -- (Updates last paragraph with response from Intel ( INTC ).)

Intel ( INTC ) has retained a controversial license to continue selling hundreds of millions of dollars worth of microchips to China's Huawei, despite pressure from a competitor, Reuters reported Tuesday, citing sources familiar with the matter.

AMD (AMD) had argued that it was unfair to allow Intel ( INTC ) to continue selling chips for Huawei laptops while it was unable to obtain such a license, the report said. AMD had applied for a similar export license but received no response, the report added.

US officials are under pressure to halt exports of sophisticated American technology to China, especially Huawei, which has been accused of violating sanctions laws and being too close to the Chinese government, according to the report.

An Intel ( INTC ) spokesman declined to comment. AMD and Huawei did not immediately respond to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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