US Chip Maker Micron Under Cybersecurity Probe from China Amid Growing Tech Tensions
A cybersecurity probe by the Chinese government has been launched into US chip maker Micron Technology amid escalating tensions between the two countries over technology exports. The move comes as Washington and its allies have imposed new restrictions on China's semiconductor industry, targeting key areas of Beijing's tech ambitions.
The Cyberspace Administration of China (CAC) has announced that it will review all products sold by Micron in the country to ensure the security of key information infrastructure supply chains and prevent potential cybersecurity risks. The probe is aimed at maintaining national security, according to a statement by the watchdog.
Micron has confirmed that it was aware of the review and is cooperating fully with the CAC. However, shares in the company plummeted 4.4% on Wall Street following the news, the largest drop in over three months. As Micron derives more than 10% of its revenue from China, this development marks a significant risk to the firm's operations.
US and US allies have recently announced curbs on China's semiconductor industry, including new restrictions on exports of advanced chip manufacturing equipment to countries like China, Japan, and the Netherlands. These moves are seen as part of a broader effort by Washington to curb Beijing's ambitions in key areas such as technology and defense.
China has strongly opposed these measures, calling them "unfair" and "unjust." However, in an effort to boost growth and job creation, Beijing is seeking to attract foreign investments and promote itself as a favorable destination for global companies. The government has been rolling out the welcome mat for top CEOs, promising them a good environment and services.
However, Beijing's pressure on foreign companies to bring them into line with its agenda continues to grow. Authorities have recently closed offices of several international firms, including a US corporate intelligence firm and an auditing firm, and imposed significant fines.
As tensions between the US and China over technology exports escalate, Micron is facing increased scrutiny from Chinese regulators. The probe by the CAC marks a new level of pressure on the company to ensure compliance with Beijing's standards.
A cybersecurity probe by the Chinese government has been launched into US chip maker Micron Technology amid escalating tensions between the two countries over technology exports. The move comes as Washington and its allies have imposed new restrictions on China's semiconductor industry, targeting key areas of Beijing's tech ambitions.
The Cyberspace Administration of China (CAC) has announced that it will review all products sold by Micron in the country to ensure the security of key information infrastructure supply chains and prevent potential cybersecurity risks. The probe is aimed at maintaining national security, according to a statement by the watchdog.
Micron has confirmed that it was aware of the review and is cooperating fully with the CAC. However, shares in the company plummeted 4.4% on Wall Street following the news, the largest drop in over three months. As Micron derives more than 10% of its revenue from China, this development marks a significant risk to the firm's operations.
US and US allies have recently announced curbs on China's semiconductor industry, including new restrictions on exports of advanced chip manufacturing equipment to countries like China, Japan, and the Netherlands. These moves are seen as part of a broader effort by Washington to curb Beijing's ambitions in key areas such as technology and defense.
China has strongly opposed these measures, calling them "unfair" and "unjust." However, in an effort to boost growth and job creation, Beijing is seeking to attract foreign investments and promote itself as a favorable destination for global companies. The government has been rolling out the welcome mat for top CEOs, promising them a good environment and services.
However, Beijing's pressure on foreign companies to bring them into line with its agenda continues to grow. Authorities have recently closed offices of several international firms, including a US corporate intelligence firm and an auditing firm, and imposed significant fines.
As tensions between the US and China over technology exports escalate, Micron is facing increased scrutiny from Chinese regulators. The probe by the CAC marks a new level of pressure on the company to ensure compliance with Beijing's standards.
I was playing this super cool game last night and I realized I needed to upgrade my GPU 
anyway, back to the news... I don't get why China is being so mean to US companies. Can't they just chill and let them sell their chips in peace? 
I mean, Micron's got a lot of staff working in China, like more than 10% of their revenue comes from there 
it's kinda scary when countries start accusing each other of being unfair 
but at the same time, I can see why they're worried about cybersecurity and stuff 
does anyone know if this will affect my gaming experience? 
and globally 
. Micron is already taking a hit from this, with their shares dropping 4.4% - that's not good for anyone 
.
What if this move isn't just about national security, but also about giving Chinese companies an upper hand in the global chip market? 
I mean, if US restrictions are making it harder for China to access key tech, maybe Beijing is trying to level the playing field by reviewing products sold by American companies like Micron... 
On the other hand, this probe could be a major risk for Micron's business in China - they're already getting a big chunk of their revenue from the country! 
. And let's not forget, Micron's been making bank off those Chinese sales for years - they should know what they're getting into 
. I mean, China has every right to review the products of a foreign company in their own country 
. And if Micron's not happy with it, maybe they should've considered diversifying their customer base 
.
.
and i gotta say, it's like, totally understandable that china is getting all up in arms about this 
.
Still, it's pretty interesting how the Chinese government is pushing back against these new restrictions on their semiconductor industry. Like, fair play to them for trying to protect their own interests, right? 
On a separate note, I wonder if Micron's 10% revenue from China is actually a drop in the bucket for the company... 
.
. They can't afford to mess up with Chinese regulators, or they might find themselves on the wrong side of history 
. One thing's for sure, though: this is gonna be a wild ride 
.
. I mean, come on, Micron gets hit with this probe and its shares go tanking? Like, what's the point of even having a free market if we're just gonna let the government dictate everything? 
.
.
. Now, it seems like everyone's trying to outsmart each other 
. I mean, we used to think the Internet was the biggest threat 
, but now it's all about the chips 
️! Anyway, one thing's for sure: this is gonna be a wild ride 
...
