China Launches Cybersecurity Probe into Micron Technology
China targets US chipmaker Micron over security concerns amid escalating tech war.
China's Cyberspace Administration (CAC) launched a cybersecurity probe into Micron Technology on March 31, 2023, reviewing products sold in the country for potential security risks. The move comes shortly after Japan announced export restrictions on advanced chipmaking equipment to China, following similar curbs by the US and Netherlands. Micron, which derives over 10% of its revenue from China, saw its shares drop 4.4% on Wall Street after the announcement. The probe aims to 'ensure the security of key information infrastructure supply chains' according to CAC. This marks the latest escalation in the US-China tech war, with Beijing warning foreign companies they must align with its agenda. Micron stated it's cooperating with the review and stands by the security of its products, with operations continuing normally.
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