China Set to Advance Domestic AI Amid US Chip Curbs
• China expected to continue AI development in 2024 despite US chip restrictions by tapping domestic programs and using computing resources efficiently • Biden administration's goal is to handicap China's tech sector by 10 years with restrictions • China's semiconductor industry has grown in certain unsanctioned segments like mature node chips • China's domestic semiconductor equipment suppliers gained market share amid demand from Chinese chip factories • Global semiconductor demand expected to recover once inventories ease and foundry procurement improves