TECH - Nvidia's Key Market China Wants To Beat US Embargo Boosts Chipmaking Machinery Imports by 14% | Benzinga
In 2023, China witnessed a significant 14% increase in imports of chipmaking machines, reaching nearly $40 billion, despite a general decline of 5.5% in total imports.
This surge, one of the largest since 2015, reflects Chinese chip companies’ efforts to build new semiconductor factories and boost national capabilities amidst U.S.-imposed export controls.
These restrictions have hampered Chinese access to advanced chipmaking machinery, slowing the development of the country’s high-tech sector, Bloomberg reports.
Meanwhile, Nvidia Corp (NASDAQ:NVDA) accounts for up to 90% of China’s $7 billion AI chip market.
In 2023, Nvidia chief Jensen Huang said China made up roughly 33.33% of the U.S. tech industry’s market.
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