At the Wall Street Journal’s (WSJ) Tech Live conference held on October 24, chip giant Intel’s (NASDAQ:INTC) CEO Pat Gelsinger stated that the recently imposed restrictions by the Biden Administration on chips and related technology exports to China were inevitable. The new controls implemented by the U.S. require companies to apply for a license if they want to export advanced chips to China or supply Chinese companies with tools to build their own advanced chips. The move is expected to slow down Beijing's technological and military advances. As per a WSJ report, Intel CEO Gelsinger stated, “I viewed this geopolitically as inevitable.
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