The U.S. government has officially revoked the licenses for Qualcomm (NASDAQ: QCOM) and Intel (NASDAQ: INTC) to export chips to Huawei, particularly in the smartphone and laptop sectors, tightening restrictions on China's technological advancements.

This move aims to hinder Chinese companies like Huawei from advancing in the high-end artificial intelligence sector. The decision will significantly impact Huawei's ability to access advanced processors, especially after the company recently launched the MateBook X Pro laptop featuring Intel's latest processors.

Following the license revocation, Huawei's ability to obtain advanced processors in the smartphone and laptop sectors will be restricted. This decision has also affected the stock prices of Qualcomm and Intel, with the market showing a slight downward trend in response.

This action is seen as part of the U.S. strategy to prevent China from gaining a leading position in artificial intelligence. Chairman of the House Foreign Affairs Committee, McCaul, expressed concerns about the close cooperation between the two American companies and China. The U.S. Department of Commerce has declined to disclose further details.

Following the announcement, the stock prices of Qualcomm and Intel were negatively impacted, closing down 0.9% in May 7's trading session, reflecting market concerns about further escalation in the U.S.-China tech war.