BancaMarch| US President Joe Biden on Wednesday signed an executive order that effectively limits US investment in several Chinese tech firms. According to Biden, China’s strategy facilitates and supports “advances in sensitive technologies and products that are critical to the military, intelligence, surveillance or cyber capabilities of other countries”.
The ban is limited to three key sectors of the Asian giant: semiconductors, quantum computing and artificial intelligence.
At the same time, Chinese companies’ fear of new bans by the US administration has accelerated orders for chips from Nvidia, for an amount of $5 billion, associated with the development of artificial intelligence.
