Chip giants Nvidia and AMD have agreed to pay the US government 15% of their semiconductor sales in China, the BBC has been told by a source close to the matter. The agreement is part of a deal to secure export licences to the world's second biggest economy.

US semiconductor giants Nvidia and Advanced Micro Devices have agreed to pay the United States government 15 percent of their revenue from selling artificial intelligence chips to China, according to media reports Sunday.

Semiconductor giants have agreed to pay the US government 15% of their revenue from selling artificial intelligence chips to China.