Larger rival Nvidia said on Tuesday it would take $5.5 billion in charges as the export restrictions further shackle chipmakers’ ability to service one of their largest markets, at a time when tit-for-tat tariffs have clouded the outlook for the sector. Shares of both AMD and Nvidia slumped more than 5% as the restrictions battered global tech stocks. AMD confirmed on Wednesday that the export control applies to its MI308 products.