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The Commerce Department, which oversees export controls, is working on an update of export restrictions first released last year. "The PRC has been expecting an update around the one year anniversary, based on conversations with administration officials," the U.S. official said, using the abbreviation for People's Republic of China. U.S. officials provided the information to Chinese counterparts in recent weeks, the official said, which Reuters is reporting for the first time. The Biden administration has also sent a series of high-level officials to China, including Commerce Secretary Gina Raimondo in August. Treasury Secretary Janet Yellen also gave Chinese officials a warning in July about restrictions on U.S. investment in China released in August.

Persons: Florence Lo, Biden, Gina Raimondo, Jake Sullivan, Wang Yi, Liu Pengyu, Peter Harrell, Janet Yellen, Xi, ASML, Alexandra Alper, Karen Freifeld, Chris Sanders, Anna Driver Organizations: REUTERS, Beijing, U.S, Commerce Department, People's, Reuters, National, Foreign, of Commerce, White House, Economic Cooperation, Thomson Locations: China, WASHINGTON, People's Republic of China, Beijing, U.S, United States, Washington, Asia, San Francisco, Bali, India, Netherlands, Japan

The logo of Amazon is seen at the company logistics center in Lauwin-Planque, northern France, February 20, 2017. The FTC said that it was asking the court to issue a permanent injunction ordering Amazon.com to stop its unlawful conduct. Other allegations include that Amazon gave preference to its own products on its platforms over competitors also on the platform. During the Trump administration which ended in 2021, the Justice Department and FTC opened probes into Google, Facebook, Apple and Amazon. The FTC sued Facebook during the Trump administration and Biden's FTC has pressed forward with the lawsuit.

Persons: Pascal, Lina Khan, Khan, Trump, Republican Donald Trump, Joe Biden, Diane Bartz, Chris Sanders, Matthew Lewis, Nick Zieminski Organizations: REUTERS, Rights, U.S . Federal Trade Commission, Amazon.com, Amazon, Alphabet's, Google, Facebook, FTC, The Yale Law, Apple, Big Tech, Republicans, Justice Department, The, Republican, Democratic, Thomson Locations: Lauwin, France, Seattle

☆ Amazon.com faces an array of US consumer, state antitrust lawsuits
▼ + stars: | 2023-09-26 | by ( Mike Scarcella | ) www.reuters.com time to read: +5 min

In the California case, Judge Ethan Schulman in San Francisco Superior Court in March ruled against Amazon's bid to dismiss the lawsuit. CONSUMERS' PRICE INFLATION CLAIMSAmazon faces a pair of consumer lawsuits in Seattle federal court. The consumer plaintiffs, Chun wrote, "allege the type of conduct that antitrust law is intended to prevent." E-BOOKSIn Manhattan federal court, a prospective class action from consumers accuses Amazon of artificially inflating the price of retail trade e-books on the site. U.S. District Judge Gregory Woods has not yet ruled on objections from Amazon and the plaintiffs to Figueredo's report and recommendation.

Persons: Benoit Tessier, Rob Bonta, Ethan Schulman, Amazon's, Schulman, Richard Jones, Jones, John Chun, —, Chun, Ricardo Martinez, Valerie Figueredo, Gregory Woods, Mike Scarcella, Chris Sanders, Matthew Lewis Organizations: REUTERS, U.S . Federal Trade Commission, Amazon.com, Big Tech, FTC, GENERAL, District of Columbia, Walmart, Costco, Amazon, San Francisco Superior Court, District, U.S, Thomson Locations: Bretigny, Paris, France, CALIFORNIA, WASHINGTON, GENERAL California, District, Washington ,, California, Columbia, San Francisco, Seattle, U.S, Maryland, Manhattan, Washington

The FBI is investigating the MGM and Caesars breaches, and the companies did not comment on who may be behind them. In some cases - Mandia did not say which ones - hackers tied to Scattered Spider placed bogus emergency calls to summon heavily armed police units to the homes of executives of targeted companies. ALPHV, which according to Mandiant is a "ransomware-as-a-service", would provide services such as a helpdesk, webpage and branding, and in turn get a cut of whatever Scattered Spider would make from the hack. While many ransomware attacks go unpublicised, the MGM hack was a vivid example of the real-world impact of such incidents. Ransomware gangs often function like large organizations, and continue to evolve their methods to adapt to the latest security measures organizations use.

Persons: Bridget Bennett, helpdesk, they’d, Wendi Whitmore, Adam Meyers, it's, Kevin Mandia, Mandiant, Reuters couldn't, CrowdStrike's Meyers, helpdesks, David Bradbury, they've, Bradbury, ALPHV, Okta's Bradbury, Whitmore, Zeba Siddiqui, Raphael Satter, Chris Sanders, Claudia Parsons Organizations: MGM, MGM Resorts, REUTERS, FRANCISCO, Alto Networks, Caesars Entertainment, FBI, Caesars, Google, Reuters, Microsoft, British, Thomson Locations: Las Vegas , Nevada, U.S, WASHINGTON, Canada, Japan, United States, reassign, Las Vegas, San Francisco, New York

☆ Where key issues stand as UAW closes in on extended strikes against GM, Ford and Stellantis
▼ + stars: | 2023-09-21 | by ( Michael Wayland | ) www.cnbc.com time to read: +8 min

Headline economic issues and benefits such as hourly pay, retirement benefits, cost-of-living adjustments, wage progression and work-life balance remain central to the discussions. Here's a general overview of where the union and companies stand on key issues. Wage tiers — putting autoworkers into distinct pay ranges or classifications — is a tricky, moving target. The companies and union have defined tiers differently during past negotiations as well as during the talks this year. UAW leaders are specifically concerned with vehicle production commitments at Stellantis, which has proposed closing, selling or consolidating 18 facilities.

Persons: Ryan Sullivan, Chris Sanders, Stone, Casey Miner, Kennedy R, Barbee, Stephen Brown, Sarah Rice, Shawn Fain, Mark Reuss, there's, wouldn't, GM Organizations: United Auto Workers, Jeep, Getty, DETROIT, Detroit, UAW, General Motors, Ford Motor, Union, Media, GM, Ford Locations: Toledo , Ohio, Michigan , Ohio, Missouri, Wells Fargo, Here's, Stellantis

☆ Exclusive: US eyes long-range missiles armed with cluster bombs for Ukraine - officials
▼ + stars: | 2023-09-11 | by ( Mike Stone | ) www.reuters.com time to read: +2 min

United States and South Korean troops utilizing the Army Tactical Missile System (ATACMS) and South Korea's Hyunmoo Missile II, fire missiles into the waters of the East Sea, off South Korea, July 5, 2017. Ukraine is currently equipped with 155 millimeter artillery with a maximum range of 18 miles carrying up to 48 bomblets. The GMLRS rocket system, a version of which Ukraine has had in its arsenal for months, would be able to disperse up to 404 cluster munitions. The decision to send ATACMS or GMLRS, or both, is not final and could still fall through, the four sources said. The Biden administration has for months struggled with a decision on ATACMS, fearing their shipment would be perceived as an overly aggressive move against Russia.

Persons: Biden, Mike Stone, Chris Sanders, Lisa Shumaker Organizations: Korean, Army Tactical Missile, United States Army, REUTERS, Rights, Army Tactical Missile Systems, Russian, Russia, Thomson Locations: United States, South Korea, Ukraine, U.S, Kyiv, Washington

☆ Exclusive: Ukraine could get long-range missiles armed with US cluster bombs - officials
▼ + stars: | 2023-09-11 | by ( Mike Stone | ) www.reuters.com time to read: +5 min

Ukraine is currently equipped with 155 mm artillery with a maximum range of 18 miles carrying up to 48 bomblets. The GMLRS rocket system, a version of which Ukraine has had in its arsenal for months, would be able to disperse up to 404 cluster munitions. At present Ukraine has only one U.S.-furnished cluster munitions, the 155 mm rounds that were announced in July. Cluster munitions are prohibited by more than 100 countries. Russia, Ukraine and the United States have not signed onto the Convention on Cluster Munitions, which bans production, stockpiling, use and transfer of the weapons.

Persons: Biden, Dmytro Kuleba, Antony Blinken, Lockheed Martin, ATACMS, Joe Biden, Mike Stone, Chris Sanders, Lisa Shumaker Organizations: Korean, Army Tactical Missile, United States Army, REUTERS, Rights, Army Tactical Missile Systems, Russian, Reuters, Russia, U.S . Army, Lockheed, High Mobility Artillery Rocket Systems, Ukraine Defense Contact, Ramstein Air Base, Cluster Munitions, Thomson Locations: United States, South Korea, Ukraine, U.S, Kyiv, Orikhiv, Germany, Russia, Washington

☆ Exclusive-US Eyes Long-Range Missiles Armed With Cluster Bombs for Ukraine - Officials
▼ + stars: | 2023-09-11 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +1 min

By Mike StoneWASHINGTON (Reuters) - The Biden administration is close to approving the shipment of longer-range missiles packed with cluster bombs to Ukraine, giving Kyiv the ability to cause significant damage deeper within Russian-occupied territory, according to four U.S. officials. Ukraine is currently equipped with 155 millimeter artillery with a maximum range of 18 miles carrying up to 48 bomblets. The GMLRS rocket system, a version of which Ukraine has had in its arsenal for months, would be able to disperse up to 404 cluster munitions. The decision to send ATACMS or GMLRS, or both, is not final and could still fall through, the four sources said. The Biden administration has for months struggled with a decision on ATACMS, fearing their shipment would be perceived as an overly aggressive move against Russia.

Persons: Mike Stone WASHINGTON, Biden, Mike Stone, Chris Sanders, Lisa Shumaker Organizations: Army Tactical Missile Systems, Russian, Russia Locations: Ukraine, U.S, Kyiv, Washington

The U.S. Commerce Department, which normally administers new licensing requirements on exports, did not immediately return a request for comment. Last September AMD said it had received new license requirements that would halt exports of its MI250 artificial-intelligence chips to China. Nvidia, AMD and Intel (INTC.O) have since then all disclosed plans to create less powerful AI chips that can be exported to the Chinese market. Nvidia this week did not specify which countries in the Middle East were affected. About 13.9% of sales came from all other countries combined, and Nvidia does not provide a revenue breakout from the Middle East.

Persons: Dado Ruvic, Biden, Jasper Ward, Ismail Shakil, Stephen Nellis, Max Cherney, Abinaya, Chris Sanders, Nick Zieminski, Matthew Lewis, Lincoln Organizations: NVIDIA, REUTERS, Nvidia, Devices, AMD, U.S, U.S . Commerce Department, Intel, USG, ., Thomson Locations: U.S, China, United States, Taiwan, Japan, Netherlands, Washington, Ottawa, San Francisco, Bengaluru

☆ US companies in China struggle with raids, slow deal approvals, anti-espionage law
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +3 min

[1/2] U.S. Commerce Secretary Gina Raimondo delivers her speech at a reception with U.S. Industry and Chinese Government Officials hosted by U.S. Ambassador to China Nick Burns, in Beijing, China, August 28, 2023. Below are details on some of the bigger hurdles for doing business in China in recent years. Counterespionage law:Chinese lawmakers passed a wide-ranging update to Beijing's anti-espionage legislation in April, banning the transfer of any information related to national security and broadening the definition of spying. The law does not define what falls under China's national security or interests.

Persons: Gina Raimondo, China Nick Burns, Andy Wong, Mintz, Raimondo, Chris Sanders, Jonathan Oatis Organizations: . Commerce, . Industry, Government, U.S, REUTERS Acquire, Rights, Bain, Capvision Partners, Beijing Municipal Bureau, Statistics, China's, Intel Corp, chipmaker Semiconductor, DuPont De Nemours Inc, Rogers Corp, Xinhua, chipmaker Micron Technology, Beijing, Thomson Locations: China, Beijing, Shanghai, United States

☆ US raises concerns by Micron, Intel with China
▼ + stars: | 2023-08-28 | by ( David Shepardson | ) www.reuters.com time to read: +4 min

[1/3] U.S. Commerce Secretary Gina Raimondo delivers her speech at a reception with U.S. Industry and Chinese Government Officials hosted by U.S. Ambassador to China Nick Burns, in Beijing, China, August 28, 2023. Raimondo wants to address concerns from U.S. businesses that are having difficulties operating in China. Raimondo told reporters that she had discussed concerns over China's effective ban on purchases of Micron memory chips with her Chinese counterpart. Secretary Raimondo must stand up to our greatest adversary."

Persons: Gina Raimondo, China Nick Burns, Andy Wong, Wang Wentao, Raimondo, Biden, Raimondo's, Janet Yellen, Antony Blinken, Joe Biden, Marsha Blackburn, Export Enforcement Matthew Axelrod, We're, David Shepardson, Susan Heavey, Chris Sanders, Mike Harrison, Matthew Lewis Organizations: . Commerce, . Industry, Government, U.S, REUTERS Acquire, Rights, Intel, Micron Technology, Chinese Commerce, Commerce Department, Micron, Reuters, Republican, U.S . Commerce Department, Export Enforcement, Ministry of Commerce, Commerce, United, Thomson Locations: China, Beijing, Rights BEIJING, New York, Washington, Republican China, U.S, United States

[1/2] A customer leaves an Albertsons grocery store, as Kroger agrees to buy rival Albertsons in a deal to combine the two supermarket chains, in Riverside, California, U.S., October 14, 2022. It is unclear if the FTC will try to stop the transaction or when a decision would be reached. "Kroger and the FTC are focused on ensuring that any divested stores are positioned for success," the company said in a statement. Between them, Kroger and Albertsons operate nearly 5,000 stores with more than 800 in California. FTC staff spoke with the group in April.

Persons: Kroger, Biden, I'm, Rob Bonta, Chris Jones, We're, we're, Jones, Dan Waldvogle, Waldvogle, Sara John, Mayor Diego Plata, Diane Bartz, Chris Sanders, Anna Driver Organizations: Albertsons, REUTERS, Federal Trade Commission, Staff, FTC, Kroger, National Grocers Association, Walmart, Rocky Mountain Farmers Union, Center for Science, Safeway, Mayor, Thomson Locations: Riverside , California, U.S, Colorado, California, COVID, Colorado's Rocky, Gunnison, Plata

[1/2] A sign indicates the direction to the offices of Progress Software in Burlington, Massachusetts, U.S., July 26, 2023. But more than two months after the breach was first disclosed by Massachusetts-based Progress Software, the parade of victims has scarcely slowed. The tallies show that nearly 40 million people have been affected so far by the hack of Progress' MOVEit Transfer file management program. Now the digital extortionists involved, a group named "cl0p", have become increasingly aggressive about thrusting their data into the public domain. MOVEit is used by organizations to ship large amounts of often sensitive data: pension information, social security numbers, medical records, billing data and the like.

Persons: Brian Snyder, Marc Bleicher, cl0p, Huntress Security's John Hammond, Christopher Budd, Sophos, Eric Goldstein, Nathan Little, Emsisoft, Bert Kondruss, Rowe Price, Maximus, Alexander Urbelis, Crowell, Goldstein, didn't, Surefire's, Raphael Satter, Zeba Siddiqui, Chris Sanders, Grant McCool Organizations: Progress Software, REUTERS, FRANCISCO, Reuters, Software, Insurance, of America, Cybersecurity, Infrastructure Security Agency, Tetra Defense, WHO, Pension, California Public Employees, Moring, U.S ., Thomson Locations: Burlington , Massachusetts, U.S, WASHINGTON, American, Massachusetts, York, New York, Louisiana, California, New York City, Oregon

North Korean leader Kim Jong Un and Russia's Defense Minister Sergei Shoigu visit an exhibition of armed equipment on the occasion of the 70th anniversary of the Korean War armistice in this image released by North Korea's Korean Central News Agency on July 27, 2023. The fact North Korean hackers may have obtained information about the Zircon does not mean they would immediately have that same capability, said Markus Schiller, a Europe-based missile expert who has researched foreign aid to North Korea's missile programme. Last month, North Korea test-launched the Hwasong-18, the first of its ICBMs to use solid propellants. "North Korea announced that it was doing the same thing in late 2021. If NPO Mash had one useful thing for them, that would be top of my list," he added.

Persons: Kim Jong, Sergei Shoigu, ScarCruft, Lazarus, Tom Hegel, SentinelOne, Hegel, Obama, Nicholas Weaver, Matt Tait, Weaver, Vladimir Putin, Markus Schiller, Schiller, Jeffrey Lewis, James Martin, James Pearson, Christopher Bing, Chris Sanders, Alistair Bell Organizations: Russia's, North, Korean Central News Agency, KCNA, REUTERS, NPO Mashinostroyeniya, Pyongyang LONDON, Reuters, North Korean, United Nations, Soviet Union, NPO, Intercontinental Ballistic Missile, Mash, James, James Martin Center, Nonproliferation Studies, Korea, Thomson Locations: Pyongyang, WASHINGTON, Russian, Reutov, Moscow, Russia, Washington, New York, North Korea, Soviet, United States, Crimea, Korean, Europe, London

☆ Eyeing China in the Pacific, US studies explosives to make missiles fly further
▼ + stars: | 2023-08-02 | by ( Mike Stone | ) www.reuters.com time to read: +5 min

China views the U.S. in the Pacific as a threat, ramping up its own military presence in response. "Unfortunately, the Pentagon has grown complacent using 1940s-era energetics and neglected advanced energetics like CL-20 that are necessary to increasing the range and lethality of our force. In the last decade, when explosive weapons were used in populated areas, 90% of those reported killed or injured globally were civilians." The House version does not name any weapons, but Bob Kavetsky with the Energetics Technology Center said candidates for the new chemicals include the Lockheed Martin-made (LMT.N) long range anti-ship missiles and extended range air-to-surface missiles. Other candidates include Harpoon anti-ship missile made by Boeing (BA.N) and Javelin anti-tank weapons made by Lockheed and RTX (RTX.N).

Persons: U.S . Navy Arleigh, Burke, Curtis Wilbur, Read, Mike Gallagher, Kathleen Hicks, Tom Karako, Karako, Iain Overton, Bob Kavetsky, Lockheed Martin, Mike Stone, Chris Sanders Organizations: U.S . Navy, Pacific Vanguard, U.S . Naval, Pentagon, Reuters, Democrat, Republican, Navy, Energetics Technology Center, Northrop Grumman Corp, CL, L3Harris Technologies, Department of Defense, Army, Air Force, energetics, Center for Strategic, International Studies, Lockheed, Boeing, Thomson Locations: Australia, Japan, Republic of Korea, U.S, Philippine, WASHINGTON, Pacific, China, California, United States, Washington

☆ US lawmakers urge Biden administration to tighten AI chip export rules
▼ + stars: | 2023-07-28 | by ( Stephen Nellis | ) www.reuters.com time to read: +4 min

The October 2022 rules impose two performance caps on exporting AI chips to China - one on how fast the chips can talk to one another, and the second on the chips' processing speeds. After the rules took effect, Nvidia created special chips for China with lower interconnect speeds. Intel this month also said it has created an AI chip that can be sold in China. Nvidia at the time said that restricting sales of its AI chips to China "would result in a permanent loss of opportunities for the U.S. On Friday, Gallagher and Krishnamoorthi urged an even tighter approach than the one Reuters previously reported officials are considering.

Persons: Mike Gallagher, Biden, Raja Krishnamoorthi, Gina Raimondo, Gallagher, Krishnamoorthi, " Gallagher, Stephen Nellis, Chris Sanders, Leslie Adler Organizations: U.S, Rep, Chinese Communist Party, Capitol, FRANCISCO, Republican, Nvidia, Devices, Intel, Reuters, Qualcomm, Semiconductor Industry Association, Microsoft, Google, Thomson Locations: United States, Taiwan, Washington , U.S, China, U.S, Washington, San Francisco

☆ U.S. lawmakers urge Biden administration to tighten AI chip export rules
▼ + stars: | 2023-07-28 | by ( Stephen Nellis | ) www.reuters.com time to read: +4 min

Congress authorized up to $1 billion worth of Presidential Drawdown Authority weapons aid for Taiwan in the 2023 budget. One official, speaking on the condition anonymity, said the package is expected to be worth around $330 million. The Taipei Economic and Cultural Representative Office in the United States did not immediately respond to a request for comment. Beijing has repeatedly demanded the United States, Taiwan's most important arms supplier, halt the sale of weapons to the island. Taiwan has said its defense spending this year will focus on preparing weapons and equipment for a "total blockade" by China, including parts for F-16 fighters and replenishing weapons.

Persons: General Atomics, Defense Lloyd Austin, Mark Milley, Mike Stone, Idrees Ali, Chris Sanders, Deepa Babington, Lincoln Organizations: Reuters, Congress, U.S . Air Force, Cultural, Defense, Presidential, Authority, U.S . Army, Joint Chiefs of Staff, Thomson Locations: United States, Taiwan, China, Taipei, Beijing, U.S, Ukraine

Congress authorized up to $1 billion worth of Presidential Drawdown Authority weapons aid for Taiwan in the 2023 budget. One official, speaking on the condition anonymity, said the package is expected to be worth around $330 million. The Taipei Economic and Cultural Representative Office in the United States did not immediately respond to a request for comment. Beijing has repeatedly demanded the United States, Taiwan's most important arms supplier, halt the sale of weapons to the island. Taiwan has complained of delays to U.S. weapon deliveries, such as Stinger anti-aircraft missiles, as shipments from U.S. stockpiles moved to Ukraine.

[1/2] A man types into a keyboard during the Def Con hacker convention in Las Vegas, Nevada, U.S. on July 29, 2017. In an interview this week, Canadian Centre for Cyber Security Head Sami Khoury said that his agency had seen AI being used "in phishing emails, or crafting emails in a more focused way, in malicious code (and) in misinformation and disinformation." The same month, Britain's National Cyber Security Centre said in a blog post that there was a risk that criminals "might use LLMs to help with cyber attacks beyond their current capabilities." The LLM responded with a three paragraph email asking its target for help with an urgent invoice. Reporting by Raphael Satter in Washington; editing by Chris Sanders and Josie KaoOur Standards: The Thomson Reuters Trust Principles.

Persons: Steve Marcus WASHINGTON, Sami Khoury, Khoury, cybercriminals, Europol, ChatGPT, Raphael Satter, Chris Sanders, Josie Kao Organizations: Def Con, REUTERS, Reuters, cybercriminals, Centre for Cyber Security, European, Cyber Security, Thomson Locations: Las Vegas , Nevada, U.S, Washington

☆ Chinese autonomous vehicle tech raises concerns, US transportation chief says
▼ + stars: | 2023-07-20 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, July 20 (Reuters) - U.S. Transportation Secretary Pete Buttigieg said on Thursday his agency has national security concerns about Chinese autonomous vehicle suppliers in the American market. "Whether we are talking about hardware or software, in the same way there are concerns around telecom or TikTok, there are concerns around transportation technologies," Buttigieg said in an interview with Reuters. Buttigieg said the United States needs to better understand "the true ownership of the different enterprises that are supplying different elements of our transportation systems." The lawmakers were particularly concerned about AV vehicle and equipment testing in the United States. Their letter cites data from California regulators showing seven Chinese firms tested autonomous vehicles in the most-populous U.S. state last year.

Persons: Pete Buttigieg, Buttigieg, Gina Raimondo, Chris Sanders, Will Dunham Organizations: . Transportation, Reuters, Chinese Communist Party, CCP, Thomson Locations: United States, China, California, U.S

WASHINGTON, July 17 (Reuters) - U.S. chip company executives met with top Biden administration officials on Monday to discuss China policy, the State Department and sources said, as the most powerful semiconductor lobby group urged a halt to more curbs under consideration. Secretary of State Antony Blinken talked with chip company chief executives about the industry and supply chains after his recent trip to China, a department spokesperson told reporters. The chip industry is keen to protect its profits in China as the Biden administration considers another round of restrictions on chip exports to China. Last year, China accounted for $180 billion in semiconductor purchases, more than a third the worldwide total of $555.9 billion and the largest single market, according to Semiconductor Industry Association (SIA). The Biden administration is considering updating a sweeping set of rules imposed in October to hobble China's chip industry and a new executive order restricting some outbound investment.

Persons: Antony Blinken, Gina Raimondo, Lael Brainard, Jake Sullivan, Biden, Blinken, Matthew Miller, Commerce's Raimondo, Washington, hobble, Pat Gelsinger, David Shepardson, Andrea Shalal, Simon Lewis, Stephen Nellis, Chris Sanders, Susan Heavey, Matthew Lewis, Nick Zieminski Organizations: Biden, State Department, National Economic, National Security, Intel, Qualcomm, Nvidia, Reuters, Semiconductor Industry Association, SIA, Department, White, Commerce Department, Huawei Technology Co, San, Thomson Locations: China, U.S, Washington, San Francisco

The executives plan to hold meetings with U.S. officials to talk about market conditions, export controls and other matters affecting their businesses, one of the sources said. Intel and Qualcomm declined to comment, and officials at the White House did not immediately return a request for comment. The sources said other semiconductor CEOs may also be in Washington next week. The chip industry has been warmly received in Washington in recent years as lawmakers and the White House work to shift more production to the U.S. and its allies, and away from China. Many U.S. chip firms get more than one-fifth of their revenue from China, and industry executives have argued that reducing those sales would cut into profits that they reinvest into research and development.

Persons: Arnd, Biden, Pat Gelsinger, Cristiano Amon, Andrea Shalal, Stephen Nellis, Karen Freifeld, Chris Sanders, Edmund Klamann Organizations: Intel Corporation, REUTERS, Intel Corp, Qualcomm Inc, Intel, Qualcomm, White, Huawei Technologies Co, Reuters, Huawei, Nvidia, Nvidia Corp, Thomson Locations: Davos, Switzerland, Washington, China, U.S, Beijing, Many U.S, San Francisco, New York

Activision shares surged 10% on the day, as the U.S. and Britain have been the two countries opposed to what would be Microsoft's biggest deal ever and the largest transaction in the videogame industry's history. Microsoft shares rose 64 cents to $332.47. Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard's games characters in this illustration taken January 18, 2022. "It does seem like the Microsoft and the CMA could work out a deal within the next couple of weeks," said D.A. The FTC's complaint had cited concerns about loss of competition in console gaming, as well as subscriptions and cloud gaming.

Persons: Jacqueline Scott Corley, ”, Joost Van Dreunen, University's, Corley, Douglas Farrar, we'll, Dado Ruvic, Biden, Brad Smith, Franco Granda, Satya Nadella, Diane Bartz, David Shepardson, Jaspreet Singh, Aditya Soni, Chris Sanders, Caitlin Webber, Matthew Lewis David Gregorio, Muralikumar Organizations: Activision, Microsoft, Biden, U.S, Markets Authority, University's Stern School of Business, U.S . Federal Trade Commission, Nintendo, Sony Group, FTC, Sony PlayStation, REUTERS, FOCUS Gaming, CMA, Davidson &, PlayStation, Thomson Locations: WASHINGTON, U.S, British, Britain, San Francisco, New, Washington, Bengaluru

The Wall Street Journal on Tuesday reported that the Biden administration was considering new restrictions on exporting AI chips to China. The possible rule tightening would hardest hit Nvidia, whose strong position in the AI chip market helped make it worth $1 trillion earlier this year. The current rule around AI chips involves two restrictions. One restriction focuses on how fast chips can communicate with each other, which is important because AI systems such as ChatGPT require thousands of chips to be chained together. The other restriction focuses on how much computing power the chip can have.

Persons: Florence Lo, Biden, Colette Kress, Nvidia's Kress, Stephen Nellis, Karen Freifeld, Kenneth Li, Chris Sanders, Nick Zieminski Organizations: REUTERS, U.S . Commerce, Nvidia, Nvidia Corp, Devices Inc, Intel Corp, Reuters, Tencent Holdings, Intel, AMD, Thomson Locations: of China, U.S, China, HK, San Francisco, New York

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