Chinese chip giant plays down US curbs

Chinese semiconductor maker CXMT is downplaying the impact of US restrictions while ramping up its overseas business, Semafor reports. Apple is testing the newly public company's memory chips to address an AI-driven shortage. But there's a significant complication: Washington designated CXMT in June as having ties to the Chinese military. Apple is reportedly seeking White House approval to use the chips anyway. In its late July prospectus, CXMT says the designation will have no material adverse effect, and the company remains off the US trade blacklist.

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