TSMC Stock Falls After Report Says U.S. Ordered It to Halt AI Chip Shipments to China
Taiwan Semiconductor Manufacturing Company has been ordered by U.S. authorities to halt shipments of advanced chips to China, according to a report by Reuters, in the latest effort to curb exports of critical technologies.The U.S. Commerce Department sent a letter to the chip maker imposing export restrictions on certain advanced semiconductors to China starting Monday, Reuters reported over the weekend, citing a person familiar with the matter.TSMC dominates the market for manufacturing high-end chips. It leads the market for semiconductors used for artificial intelligence applications. The company also makes the core processors inside Apple iPhones, Qualcomm mobile chipsets, and processors made by Advanced Micro Devices.The news comes after a report last month that one of TSMC's products was found inside Huawei AI chips, one of China's top alternatives to Nvidia's cutting-edge processors that remain off-limits to Chinese customers.Huawei is banned from purchasing chips manufactured u