China tells telecom carriers to phase out foreign chips by 2027, WSJ reports

Officials in China earlier this year directed the country’s largest telecom carriers to phase out foreign processors that are core to their networks by 2027, a move that would directly impact Intel (INTC) and AMD (AMD), The Wall Street Journal’s Liza Lin reports, citing people familiar with the matter. The two chip makers have in recent years provided the majority of the core processors used in networking equipment in China and the world.