"The shelving is a surprise and makes us wonder if there are issues behind the scenes that we aren't aware of," one analyst said, but news that Jack Ma's family trust was selling shares likely also hurt the stock

Tencent is the second large Chinese technology company to look for domestic alternatives to Nvidia amid tightening US sanctions

In a filing to the SEC, Nvidia noted five chips that will be impacted as the rules go into effect: the A100, A800, H100, H800, and L40S

ASML detailed the chip technology theft, which happened in 2022, in part of its annual report in February this year

Chinese foundries that would earlier use only a small amount of equipment from domestic firms, now want "as few foreign machines as feasible"

The data released by China’s customs department marked a small improvement for the country, which saw an 18.5% decline in chip imports in the first half of the year

TSMC said the US had advised it to apply for a "validated end-user" authorisation, which would serve as a permanent authorisation for its China operations

Samsung makes about 40% of its NAND flash chips at its plant in Xian, China, while SK Hynix makes about 40% of its DRAM chips in Wuxi

In order to meet the demands of the rapidly developing AI industry, Beijing also plans to improve computational infrastructure in western China

The extension would mark an end to business uncertainty for South Korea’s Samsung Electronics and SK Hynix who have invested billions in their chip fabs in China

The announcement came after customs data showed China had completely blocked its exports of germanium and gallium products in August

Top South Korean chipmakers Samsung and SK Hynix currently have permits to import US chip-making equipment into China, where they have extensive production facilities