Intel, AMD stock drop on report China is phasing out foreign chips
China is intensifying efforts to reduce its reliance on foreign technology by aiming to eliminate American chip makers from its telecom infrastructure by 2027, according to the Wall Street Journal.
The Chinese government's past efforts to reduce reliance on foreign semiconductors were hindered by the lack of domestically produced chips of comparable quality. However, recent improvements in the quality and stability of local chips have made it feasible for telecom carriers to switch to domestic alternatives.
Chinese authorities have long sought to bolster domestic supply chains and reduce reliance on foreign suppliers. Similar directives in other sectors have already led to a gradual loss of market share for U.S. software and hardware firms in China.Ermmm known a few weeks ago and didn't drop them... it pumped lol...
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