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Chinese semiconductor stocks extended a strong rally on Friday after reports that Beijing regulators ordered major technology firms to halt purchases of Nvidia’s (NASDAQ: NVDA) AI chips. The move strengthens bets on China’s push for semiconductor self-sufficiency as tensions with the U.S. persist.
According to the Financial Times, the Cyberspace Administration of China instructed companies such as Alibaba and ByteDance to cancel orders for Nvidia’s China-tailored AI processors. The directive highlights Beijing’s strategy to reduce reliance on American technology suppliers while fostering domestic chip development.
Investor sentiment toward Chinese chipmakers soared. Hong Kong-listed Semiconductor Manufacturing International Corp (HK:0981) gained more than 3% on Friday, marking a 12% weekly rise. Hua Hong Semiconductor (HK:1347) surged over 5% and was on track for an 18% weekly jump. Shanghai-based Yangtze Optical Fibre and Cable (SS:601869) skyrocketed 10% in one day, extending its weekly gain to 35%.
Tech giant Baidu (HK:9888) saw steadier trading but remained up 15% for the week, supported by reports it has begun using its in-house Kunlun P800 chip to power AI training. The shift underscores how Chinese firms are accelerating adoption of domestic hardware alternatives amid regulatory and geopolitical headwinds for Nvidia, including an ongoing antitrust probe in China.
The broader backdrop also includes high-stakes negotiations between Washington and Beijing. U.S. President Donald Trump and Chinese President Xi Jinping were set to speak Friday to finalize terms regarding TikTok’s U.S. operations and other trade-related matters.
The developments reinforce China’s determination to boost its semiconductor independence, while U.S. suppliers like Nvidia face mounting challenges in one of their most important markets.
