Dutch lithography giant shaping the future of microchips
Au Kam San, a former Macao lawmaker, remains in custody under a national security law as authorities withhold full details. Reports describe a closed trial process, restrictions on legal counsel and family contact, and concerns about due process. The case mirrors Beijing’s broader security emphasis in the Chinese-ruled SAR.
Nvidia CEO Jensen Huang has joined President Trumps delegation to China and has been pictured in Beijing; the trip has been focusing on trade, AI export controls and Iran. China has not approved any purchases of Nvidias H200 chips and is continuing to push domestic chip development while U.S. export controls remain in place.
The SpaceX IPO has launched, commanding a multi-trillion-dollar market cap and drawing investor attention to AI-focused stocks like Anthropic and OpenAI. Analysts warn about overvaluation and the risk of market concentration as new supply floods the tech sector.
SpaceX has announced a senior unsecured notes offering to raise about $20 billion to refinance a bridge loan and fund expanding AI infrastructure, including Starship and Starlink. The move follows a record IPO and large cash reserves, but faces scrutiny over negative free cash flow and high capital needs.
ASML is at the center of a widening policy dispute as U.S. and Dutch officials scrutinize the company’s ability to export EUV lithography machines to China. New legislation and high-level meetings signal potential curbs that could reshape the global chip supply chain.
South Korea has accelerated its semiconductor push, pledging hundreds of trillions of won in memory fabs and AI data centers. President Lee Jae-myung frames the plan as national survival, aiming to double memory capacity within five years. Samsung and SK Hynix pledge multi‑trillion investments, with broader plans to build new fabs and hubs in the southwest.
SK Hynix has raised $26.5bn by selling 177.9m American depositary receipts at $149 each, in the largest-ever US share sale by a foreign company. Its ADRs have begun trading on Nasdaq under temporary ticker SKHYV and will convert to SKHY; the company is using proceeds to expand fabs, packaging and EUV capacity as AI-driven memory demand surges.
Base44 is releasing Base 1, its own large language model to power vibe-coding tools. The move seeks to reduce reliance on frontier models, optimize latency and costs, and offer unique UI generation. The company says it will open access to a new model this summer as it expands its data-driven design stack.
OpenAI has proposed that the U.S. government take roughly a 5% stake in the company and has discussed a plan for other leading AI firms to give similar stakes to a government-backed vehicle. The talks have taken place with Trump administration officials and would likely require congressional approval. (Updated Wed, 08 Jul 2026 07:15:26 +0100)
Governor Kathy Hochul has signed an executive order imposing a one-year statewide moratorium on new hyperscale data centres that use 50 megawatts or more, directing regulators to complete an environmental impact review and consider rules to make developers pay for power, contribute to grid upgrades and lose tax breaks. The move has drawn praise from community and environmental groups and rebuke from industry and national conservatives.
CXMT’s Shanghai IPO has surged in value, spurring bipartisan concern in Washington about Beijing’s possible state backing. The Pentagon has placed CXMT on its security list, while lawmakers push for a classified briefing to assess national-security risks tied to China’s military-civil fusion strategy.