The United States, Tighter trade rules According to analysts at Jefferies, China could block allies from selling advanced semiconductor manufacturing equipment to China, while banning U.S.-based Nvidia from selling chips designed specifically for the Chinese market.
Nvidia's H20 chips are “highly likely” to be one of three chipmakers that the U.S. will review when it conducts its annual review of semiconductor export controls in October. Designed without requiring an export control licenseThe chips would be banned from sale to China, Jefferies analysts wrote in a note. This ban could be implemented in three ways: “product-specific bans, lowering computing power caps, and/or capping memory capacity,” the analysts wrote.
Some U.S. companies, including Intel and Qualcomm, Blacklisted Chinese semiconductor companies Including Huawei, Cancelled But Chinese companies reportedly have access to Nvidia's advanced chips, despite the U.S. trying to tighten export controls on semiconductor materials sold to China. Through a reseller And more By renting an Nvidia-powered server From Google, Microsoft and other tech companies.
The United States could also expand export controls on semiconductor chips sold to other countries in the region, such as Malaysia, Indonesia and Thailand, or extend the restrictions to Chinese companies overseas, but that would be more difficult to implement, analysts said.
The Biden administration Discuss the use of export controls It is called Foreign Direct Product RulesThis affects companies such as Japan's Tokyo Electron and Dutch semiconductor equipment maker ASML. Export any product to any country If it is manufactured with a certain percentage of U.S. intellectual property components. Global semiconductor stocks fall Following this news and former President Donald Trump's comments about Taiwan, analysts at Jefferies and Bank of America said: The selloff in semiconductor stocks was a market overreactionthe consideration of the FDPR may have been misconstrued.
“The most likely scenario is that the US imposes FDPR on more Chinese companies,” the Jefferies analysts wrote, “which would prevent these companies from purchasing SPEs from companies like ASML and Tokyo Electron, even if Japanese and Dutch export controls allow it.”
