Update: Market Chatter: Intel Tested Chipmaking Tools From Manufacturer With Units Under Sanctions Over China

MT Newswires Live12-15

(Updates with response from ACM Research in the fifth paragraph.)

Intel (INTC) tested chipmaking tools this year from a Chinese-rooted manufacturer whose overseas units were targeted by US sanctions, Reuters reported Friday, citing two people familiar with the matter.

The company, California-based ACM Research, was hit by US restrictions at its units in Shanghai and South Korea, which allegedly provided technology for Chinese military activities, the report said.

ACM has denied the allegations, the report said.

Reuters cited a former US official that Chinese-made tools could be manipulated to sabotage US chip production.

In response to MT Newswires' inquiry, ACM Research said, "We comply with all applicable US laws and regulations."

Intel did not reply to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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