US chipmakers in China see revenue rise, defying trade tensions: Hurun list - South China Morning Post

According to the Hurun Research Institute's 'Top 100 US Enterprises in China 2026' report, despite ongoing US-China trade tensions, American semiconductor firms saw a significant increase in revenue f... Read original →

The revenue surge of U.S. chipmakers in China reveals a structural mismatch between export controls and market demand. Technologically, China’s AI infrastructure push fuels urgent need for high-end GPUs and advanced equipment—delays in H200 shipments have already triggered pre-buying or workarounds, boosting orders in mature nodes and packaging. Compliance is now a hidden tax: license reviews, entity list screenings, and local data rules inflate operational complexity. In response, TSMC and Taiwan-based suppliers may expand capacity in Nanjing and Shanghai to hedge geopolitical risk, while SMIC accelerates gains in 40nm+ segments. Over the next 12–24 months, expect ‘precision decoupling’: tighter U.S. restrictions on EDA and deposition tools, countered by China’s National IC Fund III driving domestic equipment adoption—creating a dual-track ecosystem where import reliance and self-reliance coexist.