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Chinese technology companies, including Huawei Technologies Co and Baidu Inc (NASDAQ:BIDU), are stockpiling high bandwidth memory (HBM) semiconductors from Samsung Electronics in anticipation of potential U.S. export restrictions on these chips, Reuters reports.
One source told Reuters that these firms have significantly increased their purchases of AI-capable semiconductors since early 2024, with China accounting for roughly 30% of Samsung’s HBM chip revenue in the first half of the year.
The U.S. plans to introduce an export control package this month, imposing new shipment restrictions for China’s semiconductor industry.
Also Read: Apple and Micron Leaders Visit Beijing As US Intensify Advanced Semiconductor Sanctions: Report
Micron Technology (NASDAQ:MU) has already stopped selling its HBM products to China under the U.S.’s prior sanctions on the country.
China’s demand for Samsung’s HBM chips has surged, especially for the HBM2E model, two generations behind the latest HBM3E version.
Meanwhile, companies like Nvidia Corp (NASDAQ:NVDA) remain engaged in developing tailor-made AI chips in compliance with the U.S. embargo on China.
Prior reports indicated AI chips were being smuggled into China. According to the Wall Street Journal, close to 12,500 AI chips are smuggled annually.
Baidu stock has lost 44% in the last 12 months as it struggles with its AI endeavors.
Price Action: BIDU shares traded higher by 0.91% at $83.13 at the last check on Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock
