The U.S. government will levy a 15% fee on some of Nvidia's and AMD's chip sales to China as a condition of granting them export licenses to sell in the country, the Financial Times reported on Sunday.

Why it matters: While export controls for sensitive products are nothing new, charging a company 15% of its revenue to sell a particular product to a particular country would be unprecedented.

Driving the news: The two chip companies agreed to the fee structure last week, the FT reported, citing a U.S. government official and other people familiar with the matter. • It was not immediately clear how the government would deploy the presumed billions of dollars in fees collected, the outlet said. • The deal applies specifically to Nvidia's H20 chip and AMD's MI308, both crucial to AI appl

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