China's AI stocks slump on report US may impose new curbs on AI chip exports

NAPCO Security Technologies

28/06/2023 03:52

** China's CSI Artificial Intelligence (AI) Index
 .CSI930713  falls more than 4% on news that the United States
may stop shipments of AI chips made by Nvidia  NVDA.O  and
others to China, according to a Wall Street Journal report 
    ** Shares of Inspur Electronic Information Industry Co.,Ltd
 000977.SZ  and Chengdu Information Technology of Chinese
Academy of Sciences Co Ltd  300678.SZ  slump as much as 10% 
    ** IFLYTEK Co Ltd  002230.SZ  and 360 Security Technology
Inc  601360.SS  fall as much as 6%
    ** Nvidia, Micron, and Advanced Micro Devices (AMD)  AMD.O 
are among the U.S. chipmakers caught in the crossfire between
China and the Biden administration
    ** China's AI stocks jumped earlier this year amid a
ChatGPT-led frenzy, and the AI Index  .CSI930713  is still up
more than 30% year-to-date
    ** China's benchmark CSI 300 Index  .CSI300  down 0.6%


 (Reporting by Shanghai Newsroom)
 ((Li.Gu@thomsonreuters.com;))