South Korean giants Samsung and SK Hynix are reportedly upgrading their production facilities in China to make more advanced memory chips to meet the Asian giant’s growing appetite. Chinese tech giants Alibaba, ByteDance, and Tencent have also placed orders totalling $35 billion from US chipmaker Nvidia, which is already struggling to fulfill demand from China, Reuters reported.
Meanwhile, Beijing is powering ahead in its ambition to reduce its reliance on the West and its Asian allies: Memory chip giant CXMT last week unveiled a new transistor architecture it said could put it ahead of rivals. “Not only have [US] export controls failed … but they’ve had the opposite effect,” an expert told Fortune.
— Jeronimo Gonzalez