Both firms have seen their market shares squeezed by local rivals such as smartphone-maker Huawei and electric vehicle giant BYD, while a larger economic slowdown shadows China

Chinese cloud firms have previously told Nvidia they don’t want its slower AI chips and that they would prefer using homegrown chips from companies such as Huawei

Local governments in Shanghai and Anhui will fund a variety of semiconductor-related projects this year — ranging from the development of DRAM chips to building facilities for chipmaking and its tools

The 5nm tech will be used to produce chips for Huawei's new smartphones, and, if successful, could also be used for its AI chips

The tech giant alone invested $22.5 billion in new products in 2022, according to a European Commission report

The piece of tech powers advanced driver assistance systems and is key to Huawei's push to become a leading supplier of auto software

China has the potential to become the world’s largest market for autonomous vehicles, with total sales predicted to hit $230 billion by 2030

Jefferies analysts predict Apple's shipment volumes to China will see double digits declines in 2024

China's Alibaba and Tencent have reportedly told Nvidia that they will be switching to domestic firms such as Huawei for some advanced chip orders

The Chinese tech giant plans to focus on its device business over the coming year, while increasing the efficiency of its overall operations to counter geopolitical uncertainty

The laptop — dubbed the Qingyun L540 — is powered by the Kirin 9006C chip, which uses 5nm process technology, company brochures and the laptop's web listing shows

The move by Huawei comes as global automakers in China increasingly seek to partner with Chinese carmakers