The trade war between the U.S. and China took another leap as the Biden administration is trying to restore the semiconductor industry back to its home ground away from China, according to the Wall Street Journal.
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The Biden administration plans to impose new controls on the exports of advanced chips to China that are used in artificial-intelligence (AI) calculations and several other applications. Such restrictions could put the Chinese semiconductor industry in big jeopardy.
The move comes as the U.S. aims to safeguard its geopolitical prowess and take control of manufacturing advanced chips, a key input for military systems as well as other vital data-processing capabilities.
As a result, domestic semiconductor companies in the U.S. listed below are bound to benefit:
- Advanced Micro Devices (NASDAQ:AMD) (+4.2%)
- NVIDIA Corporation (NASDAQ:NVDA) (+4.1%)
- Broadcom (NASDAQ:AVGO) (4.4%)
- Texas Instruments (NASDAQ:TXN) (+3.3%)
- Qualcomm (NASDAQ:QCOM) (+4%)
- Intel (NASDAQ:INTC) (+1.7%)