New Export Curbs Target China’s Chip and AI Aspirations
Targeting China’s semiconductor and AI sectors, the Biden government announced increased export restrictions, strengthening measures to offset Beijing’s technology gains. The Department of Commerce has put new restrictions on sales of high-bandwidth memory and chipmaking equipment, therefore affecting American companies including Lam Research Corp. (NASDAQ:LRCX), Applied Materials Inc. (NASDAQ:AMAT), and KLA Corp. (NASDAQ:KLAC). These limitations…