Lam Research warns of up to $2.5 billion revenue hit from U.S. curbs on China exports

Chip-making technology provider Lam Research Corp on Wednesday warned of a $2 billion to $2.5 billion revenue hit in 2023 from U.S. curbs on exports of high-end technology shipments to China.

Under sweeping regulations announced by the Joe Biden administration earlier this month, U.S. companies must stop supplying Chinese chipmakers with equipment that can produce relatively advanced chips unless they first obtain a license.

“We have taken the necessary steps to ensure full compliance with the rules and have ceased shipments and support as required,” Chief Executive Officer Timothy Archer said on an analyst call.