US Export Control Meant to Cripple China’s AI. But They Created Its Most Valuable Company
When Washington blocked China from buying advanced chips, the goal was to slow Beijing’s AI ambitions. It may have accelerated them instead. CXMT Corp, a memory chipmaker once dependent on foreign technology, debuted on Shanghai’s STAR Market last month and surged 466% in a single session. The stock eclipsed Industrial and Commercial Bank of China The post US Export Control Meant to Cripple China’s AI. But They Created Its Most Valuable Company appeared first on BeInCrypto.
Key Takeaways
- When Washington blocked China from buying advanced chips, the goal was to slow Beijing’s AI ambitions.
- It may have accelerated them instead.
- CXMT Corp, a memory chipmaker once dependent on foreign technology, debuted on Shanghai’s STAR Market last month and surged 466% in a single session.
Summary generated by IndiCrypto from BeInCrypto. IndiCrypto is a news aggregator and does not provide investment advice. Read the original article for full context.
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