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Information Minister in Pakistani-administered Kashmir: Five civilians killed and at least 29 others injured in shelling across the border with India
Israeli Army Radio's diplomatic correspondent quoted a senior Israeli official as saying: So he [Trump] decided to cut off contact. That might still change, but that’s the situation right now
Israeli Army Radio's diplomatic correspondent quoted a senior Israeli official as saying: Trump’s circle told him [Dermer] that Netanyahu was manipulating him, and there’s nothing Trump hates more than being portrayed as someone being played
Senior Palestinian official to Al Mayadeen: Meetings between the Israelis, Egyptians, and Qataris are all centered around the Israeli proposal, which does not guarantee an end to the war [on Gaza]
Senior Palestinian official to Al Mayadeen: “Israel” is threatening to expand the ground offensive if Hamas rejects the proposal
Senior Palestinian official to Al Mayadeen: Hamas rejects the Israeli proposal, viewing it as failing to guarantee an end to the war
Senior Palestinian official to Al Mayadeen: “Israel” is sticking to its proposal, and insists there is no alternative offer on the table for negotiation
Senior Palestinian official to Al Mayadeen: The meetings between the Israelis and the Egyptians and Qataris all revolve around the Israeli proposal
The administration was clearly looking for an off-ramp for this campaign against Ansar Allah, NBC News reports, citing US official
Trump's operation against Ansar Allah cost more than $1 billion, NBC News reports, citing US official

Intel, AMD stocks sink after Chinese gov. turns inward for chips

  • By Al Mayadeen English
  • Source: Agencies
  • 25 Mar 2024 17:39
  • 1 Shares
2 Min Read

The Chinese government is set to start replacing US-made semiconductors and servers with ones produced by Chinese firms.

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  • Intel, AMD stocks slide after Chinese gov. turns inward for chips
    An illustration of the US and Chinese flags printed on two semiconductors installed on different motherboards in September 2022 (Social media)

Shares of chip giants Intel and Advanced Micro Devices AMD dropped in pre-market trading on Monday after China introduced new guidelines to start using domestic semiconductors and servers in government computers as an alternative to ones produced by US companies, the Financial Times reported.

The new policy was revealed by the Finance Ministry and the Ministry of Industry and Information Technology end of last December.

Read more: Apple's iPhone 15 shows US does not understand own tech war on China

US-made softwares will also be phased out and replaced, the newspaper added. But for now, there will remain some felxibilty margin for government establishments to purchase foreign processors and servers, it said, citing anonymous Chinese officials.

Intel experienced a 4.1% decline, while AMD slipped 3.2%, as investors were concerned about the impact the new regulation will have on the comapanies' sales.

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In October 2022, the US Department of Commerce introduced sanctions on China, putting hurdles in Beijing's way to buy or develop advanced semiconductors. This also included forcing other countries to restrict tech trade with China, particulary semiconductors.

Earlier this month, the US Commerce Department prohibited AMD from supplying China with an AI chip specifically produced to fit the needs of the Chinese market.

Additionally, a Bloomberg report published last week indicated that the United States is contemplating the blacklisting of several Chinese chips companies associated with Huawei Technologies, further intensifying unilateral measures to block China from surpassing the US in terms of scientific and tech advancments.

Tech firms had already warned that Washington's tech war against China could end up backfiring and fuel the Chinese drive to independently develop their own IT hardware and solutions, while US companies would have been deprived of large profits from the largest chip market in the world.

In May, The Wall Street Journal reported that American sanctions on Chinese IT businesses have caused them to expand research to build artificial intelligence (AI) without relying on cutting-edge US semiconductors.

According to the report, Chinese firms searched for strategies that might enable them to employ fewer or less powerful chips to achieve high-level AI performance.

  • United States
  • semiconductors
  • China
  • AMD
  • Intel

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