China Launches Cybersecurity Probe into US Chip Maker Micron as Tech Tension Escalates
In a move that is likely a response to recent restrictions on technology sales to China, Beijing has launched a cybersecurity probe into Micron Technology, one of America's largest memory chip makers. The Cyberspace Administration of China (CAC) will review products sold by Micron in the country as part of its efforts to ensure the security of key information infrastructure supply chains.
The probe comes amid growing tensions between the US and China over technology exports, with several countries including Japan, the Netherlands, and the US announcing new restrictions on the sale of advanced chip manufacturing equipment to Beijing. The move is seen as a significant escalation in the tech rivalry between the two nations.
Micron has told CNN that it is aware of the review and is cooperating fully with the CAC. The company's shares have sunk by 4.4% on Wall Street, marking the biggest drop in more than three months, following the news. This is not the first time that Micron has warned about potential risks from China; last month, the Idaho-based firm had also flagged the possibility of restrictions on its operations in the country.
China's government has been increasingly vocal in its criticism of technology export restrictions, with Beijing describing them as "unfair" and "unduly restrictive". However, in an effort to woo foreign investors, Chinese leaders have rolled out the welcome mat for global CEOs, promising a "good environment and services".
The latest move by China is part of a broader campaign to exert pressure on foreign companies to bring their operations into line with its agenda. Authorities have recently closed the Beijing office of a US corporate intelligence firm and detained several staff, as well as suspended Deloitte's operations in the city for three months.
As tensions between the US and China over technology exports continue to escalate, the future of international trade in high-tech goods remains uncertain. With several countries taking steps to restrict sales of advanced chip manufacturing equipment, the potential impact on global supply chains is significant.
For Micron, the probe marks a significant challenge as it works to maintain its presence in the Chinese market. The company's reliance on China for more than 10% of its revenue makes this development a major concern for investors and analysts alike.
In a move that is likely a response to recent restrictions on technology sales to China, Beijing has launched a cybersecurity probe into Micron Technology, one of America's largest memory chip makers. The Cyberspace Administration of China (CAC) will review products sold by Micron in the country as part of its efforts to ensure the security of key information infrastructure supply chains.
The probe comes amid growing tensions between the US and China over technology exports, with several countries including Japan, the Netherlands, and the US announcing new restrictions on the sale of advanced chip manufacturing equipment to Beijing. The move is seen as a significant escalation in the tech rivalry between the two nations.
Micron has told CNN that it is aware of the review and is cooperating fully with the CAC. The company's shares have sunk by 4.4% on Wall Street, marking the biggest drop in more than three months, following the news. This is not the first time that Micron has warned about potential risks from China; last month, the Idaho-based firm had also flagged the possibility of restrictions on its operations in the country.
China's government has been increasingly vocal in its criticism of technology export restrictions, with Beijing describing them as "unfair" and "unduly restrictive". However, in an effort to woo foreign investors, Chinese leaders have rolled out the welcome mat for global CEOs, promising a "good environment and services".
The latest move by China is part of a broader campaign to exert pressure on foreign companies to bring their operations into line with its agenda. Authorities have recently closed the Beijing office of a US corporate intelligence firm and detained several staff, as well as suspended Deloitte's operations in the city for three months.
As tensions between the US and China over technology exports continue to escalate, the future of international trade in high-tech goods remains uncertain. With several countries taking steps to restrict sales of advanced chip manufacturing equipment, the potential impact on global supply chains is significant.
For Micron, the probe marks a significant challenge as it works to maintain its presence in the Chinese market. The company's reliance on China for more than 10% of its revenue makes this development a major concern for investors and analysts alike.
. Micron gets hit with a cybersecurity probe from China and their shares take a major hit? Yeah, that's not surprising at all 
. It just goes to show how unpredictable the whole tech industry can be. I mean, who knows what kind of "backdoor" deals are being made behind closed doors between these companies? 
The US government is already clamping down on tech sales to China, and now Micron gets caught in the crossfire. This is just a perfect storm waiting to happen. Investors are gonna lose their shirts over this... 
China's moves are getting more aggressive and Micron is feeling the heat 
I'm wondering what other tech companies will be targeted next 
, I mean, what's up with these cybersecurity probes? It's like every other day someone's getting scrutinized by some authority. And Micron gets hit with one too... 
And now Micron's shares are taking a hit... 
not exactly what the company needed right now 
. I mean, it's like they want to play a game of "tech- espionage" with the US, where both sides just try to outmaneuver each other in the dark web 
. The fact that Micron's shares dropped by 4.4% already is crazy - I guess all those China-hunting investors just got cold feet 
. Meanwhile, Deloitte's getting a nice warm welcome in Beijing... yeah right, more like "we're gonna make you dance to our tune" 
. This whole thing is just a messy game of chicken, where the loser gets to take a hard hit on the economy 
. Can't wait to see how this all plays out 
. i mean, micron's not doing anything wrong here, right? they're just selling chips to china... it's a big deal, sure, but let's not jump to conclusions 
. maybe china's probe will actually help us figure out some security issues with our tech exports... 
it's not like micron was doing anything wrong, just selling chips 
and now they're facing a 4.4% drop on wall street?