US Chipmaker Micron Under Fire from China Amid Escalating Tech Tensions
China's cyber regulator has launched a probe into US chipmaker Micron Technology amid escalating tensions between Washington and Beijing over technology exports.
The Cyberspace Administration of China (CAC) will review products sold by Micron in the country, as part of an effort to "ensure the security of key information infrastructure supply chains" and prevent potential cybersecurity risks. The move is seen as retaliation against US allies in Asia and Europe who have announced new restrictions on the sale of key technology to Beijing.
The probe comes as Washington and its allies have imposed curbs on China's semiconductor industry, targeting the country's bid to become a tech superpower. Japan, a US ally, has also restricted the export of advanced chip manufacturing equipment to countries including China, following similar moves by the United States and the Netherlands.
Micron, which derives over 10% of its revenue from China, has been warning of such risks in an earlier filing. The company had warned that the Chinese government may restrict its access to the market or prevent it from competing effectively with local companies.
Shares in Micron plummeted by 4.4% on Wall Street on Friday following the news, the biggest drop in more than three months. The move has raised concerns among investors about the impact of China's growing influence in the tech industry.
China has strongly criticized restrictions on tech exports, saying it "firmly opposes" such measures. Beijing is seeking to woo foreign investments as it grapples with mounting economic challenges, but has also been exerting pressure on foreign companies to bring them into line with its agenda.
The probe into Micron is the latest example of China's efforts to assert its dominance in the global tech industry. The move has raised concerns among US lawmakers and business leaders about the impact of China's growing influence on the industry and the country's human rights record.
As tensions between Washington and Beijing continue to escalate, it remains to be seen how this probe will play out and what implications it may have for Micron and other US companies operating in China.
China's cyber regulator has launched a probe into US chipmaker Micron Technology amid escalating tensions between Washington and Beijing over technology exports.
The Cyberspace Administration of China (CAC) will review products sold by Micron in the country, as part of an effort to "ensure the security of key information infrastructure supply chains" and prevent potential cybersecurity risks. The move is seen as retaliation against US allies in Asia and Europe who have announced new restrictions on the sale of key technology to Beijing.
The probe comes as Washington and its allies have imposed curbs on China's semiconductor industry, targeting the country's bid to become a tech superpower. Japan, a US ally, has also restricted the export of advanced chip manufacturing equipment to countries including China, following similar moves by the United States and the Netherlands.
Micron, which derives over 10% of its revenue from China, has been warning of such risks in an earlier filing. The company had warned that the Chinese government may restrict its access to the market or prevent it from competing effectively with local companies.
Shares in Micron plummeted by 4.4% on Wall Street on Friday following the news, the biggest drop in more than three months. The move has raised concerns among investors about the impact of China's growing influence in the tech industry.
China has strongly criticized restrictions on tech exports, saying it "firmly opposes" such measures. Beijing is seeking to woo foreign investments as it grapples with mounting economic challenges, but has also been exerting pressure on foreign companies to bring them into line with its agenda.
The probe into Micron is the latest example of China's efforts to assert its dominance in the global tech industry. The move has raised concerns among US lawmakers and business leaders about the impact of China's growing influence on the industry and the country's human rights record.
As tensions between Washington and Beijing continue to escalate, it remains to be seen how this probe will play out and what implications it may have for Micron and other US companies operating in China.
makes sense i guess? but 10% of their revenue comes from china, so this isn't just some small thing. it's like, if they find out something bad about micron, they might limit their access to the market or make it hard for them to compete with local companies... 
that could be a big deal for investors and stuff. shares in micron dropped pretty hard after this news, so i guess people are worried 
. The problem is, this kind of aggression is going to create uncertainty and hurt businesses on both sides 
. But at the same time, you can't say that US restrictions aren't justified given China's track record on intellectual property and human rights 
. It's all about finding a balance between economic competition and fair play... but how do you achieve that when everyone's got an axe to grind? 
China's all like "Hey, you wanna restrict our chip sales? Fine, we'll investigate you!" 
Meanwhile, Micron's over here like "Uh, no worries, I've got this"... until their shares go down the drain 
.
China is literally cracking down on US chipmaker Micron and it's getting serious 
Like, what's next?! 
Are we gonna lose access to all our tech from China?!?! 
This is a major escalation in tech tensions between the US and China and I'm not sure how this is gonna play out 
But at the same time, the US has gotta be careful about protecting its national security interests 
What do u guys think is gonna happen next?!?! 
