The US’s new restrictions on technology exports to China could undercut the Asian country’s ability to develop wide swaths of its economy.
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China lashed out at the $52-billion programme to expand American chip-making, saying it violates fair market principles.
China’s top leadership has grown increasingly frustrated with a years-long failure to develop semiconductors that can replace US circuitry.
SMIC has likely advanced its production technology by two generations, defying US sanctions intended to halt the rise of China’s largest chip maker.
China has denounced US efforts to stop ASML and Nikon from selling key chip-making technology to the country as “technological terrorism”.
Taiwan’s TSMC, the world’s biggest chip maker, will have the next version of ASML Holding’s most advanced chip-making tool in 2024.
ASML is building machines the size of double-decker buses, weighing over 200t and costing $400-million, in pursuit of the next generation of computer chips.
Semiconductors are becoming “weaponised” with the current trade wars and supply chain issues.
Samsung Electronics has decided to build an advanced US chip plant in Texas as competition in the semiconductor market intensifies.
Tesla’s ascent into the most exclusive of corporate clubs – the $1-trillion capitalisation set – has investors guessing on which company will be the next to join.