U.S. big chip makers are pushing back on Biden’s China limits, NY Times says

A year after restricting the sale of semiconductors to China, the Biden administration began drafting additional limits to deny Beijing the technology critical to modern-day weapons, Tripp Mickle, David McCabe and Ana Swanson of The New York Times reports. In recent months, however, American chip companies, including Nvidia (NVDA), Intel (INTC), and Qualcomm (QCOM), have slowed the administration’s progress by pushing back with a warning that cutting sales to China would gut their businesses. The companies have warned a U.S. pushback could accelerate China’s development of an independent chip industry, which would pave the way to a world dominated by Chinese-created chips instead of American-designed ones.