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 machines are aimed at disrupting the most expensive step in the chipmaking process, by “stamping” chip designs on to silicon wafers instead of etching them using ultraviolet light

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 spike this year highlights the growing struggles in the chip design, semiconductor manufacturing and wafer fab equipment sectors

Big tech firms like Tencent and even smaller and upcoming Chinese AI players are accelerating chip product launches and organising more marketing visits

The state-backed fund is looking to support various elements of the semiconductor supply chain, including “design, equipment, components and raw materials,” state media says

The startup makes chips that can use ambient sources of electricity such as light or vibrations as a power source — potentially removing the need for batteries in simple devices

News of the delay follows analysts concerns around Nvidia’s plan to introduce three new chips for China, as developing new chips can be highly resource-intensive

"The shelving is a surprise and makes us wonder if there are issues behind the scenes that we aren't aware of," one analyst said, but news that Jack Ma's family trust was selling shares likely also hurt the stock

Tencent is the second large Chinese technology company to look for domestic alternatives to Nvidia amid tightening US sanctions

The SoftBank Group-controlled firm trades at 45 times its 12-month forward earnings estimates, compared with investor darling Nvidia's 29.66

A global chip glut and Washington’s moves to limit China’s semiconductor industry weighed on SMIC, but the chipmaker shrugged off the revenue drop