Huawei is considering deploying its new Ascend AI chips in its cloud and AI services across Latin America, according to Mark Chen, president of Huawei Cloud Latin America. This move could increase Chinese hardware presence in a region traditionally served by US suppliers.
The US Commerce Department issued new guidance to close a loophole that may have allowed advanced AI chips, including Nvidia and AMD processors, to be exported to Chinese entities outside China for nearly a year.
China includes AI chips in 'secure and reliable' tech assessments for the first time, part of its Xinchuang initiative to replace foreign hardware/software with domestic alternatives, targeting AI infrastructure amid US export controls.
Beijing reiterated its welcome for foreign investment during a meeting on Monday, as reported by Xinhua News Agency. This comes after a US business delegation visited Beijing, with an analyst suggesting the US may be easing its tariff and tech decoupling strategies.
Nvidia shares climbed 4.3% to close at $208.27, pushing its market capitalization past $5 trillion for the first time since October. The stock added more than $200 billion in market value in a single session, driven by soaring demand for AI infrastructure. The rally was supported by strong earnings from Intel and a broader semiconductor sector rebound, with the Nasdaq Composite up 15% in April.
TSMC reported a fourth consecutive quarter of record profits with Q1 2026 net profit up 58.3% to NT$572.48bn, beating analyst expectations. Revenue rose 35.1% to NT$1.13tn, driven by extremely robust AI-related demand. The company raised its Q2 revenue guidance to $39-40.2bn and warned of potential cost impacts from Middle East geopolitical tensions.
