US Revokes Intel, Samsung, SK Hynix Waivers On China Chip Equipment
Synopsis
According to a notice in the Federal Register, the restrictions take effect in 120 days and the companies will now need to obtain licenses to buy the equipment in China.
The U.S. announced on Friday plans to tighten restrictions on global chipmakers operating in China, revoking authorizations that allowed Samsung Electronics, SK Hynix, and Intel (INTC) to receive American semiconductor manufacturing equipment in the country.
According to a notice in the Federal Register, the restrictions take effect in 120 days. Intel continues to produce wafers in China even though it sold its Dalian NAND plant to SK Hynix in 2021. Now, the companies will need to obtain licenses to buy the equipment in China.
The rule change could weigh on sales by U.S. equipment makers KLA Corp. (KLAC), Lam Research (LRCX), and Applied Materials (AMAT). At the same time, it may create openings for Chinese suppliers and benefit Micron (MU), a key U.S. rival to Samsung and SK Hynix in the memory market.
Get updates to this developing story <directly on Stocktwits.<
Read also: Fannie Mae, Freddie Mac IPO Plans Face Democratic Pushback On Mortgage Rate Risks: Report
For updates and corrections, email newsroom[at]stocktwits[dot]com.<
Stay updated with all the latest Business News, including market trends, Share Market News, stock updates, taxation, IPOs, banking, finance, real estate, savings, and investments. Track daily Gold Price changes, updates on DA Hike, and the latest developments on the 8th Pay Commission. Get in-depth analysis, expert opinions, and real-time updates to make informed financial decisions. Download the Asianet News Official App from the Android Play Store and iPhone App Store to stay ahead in business.