China banned the use of memory chips made by U.S. chipmaker Micron for technological infrastructure.
The ban on chips made by the largest U.S. chipmaker comes as the U.S. and China escalate what some experts have called a "chip war" over the manufacture of high-tech computer chips.
- The announcement came just hours after Japan announced new restrictions aimed at limiting China's domestic chipmaking capabilities.
- The Chinese cybersecurity regulator said Micron chips pose "serious network security risks."
- The U.S. has implemented measures aimed at hampering the Chinese chipmaking industry in recent months.
- In 2022, Micron generated ~10% of its full-year sales in China.
- The chipmaker also has manufacturing facilities in China.
Micron stock was down as much as 5.4% in pre-market trading in the U.S. after the ban was a