Topic
China's drive to build domestic alternatives across chip design, memory, AI accelerators and lithography, reducing reliance on foreign semiconductor suppliers.
Chinese startup Langdao Silex displayed a laser-produced-plasma EUV source rated above 15W with 90% domestic components, Tom's Hardware reported. TrendForce, citing various sources, says commercializing it needs another three to five years.
Reality
DeepSeek open-sourced six modules for programming Huawei's Ascend 950, versions of tools it first built for Nvidia chips. The largest Ascend build tied to the release is DeepSeek's own plan for a data centre holding at least 160,000 of the chips.
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The AI chipmaker's shares closed 179 percent above the offer price on Shanghai's Star Market, and the revenue behind that valuation came almost entirely from Tencent, which owns 20 percent of the company and buys most of its chips.
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Enflame sold a tenth of itself at 142.18 yuan and traded near 430 on day one, adding about 124 billion yuan of market value to a chipmaker that lost 1.16 billion yuan last year and books 84% of sales through Tencent.
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Huawei now coordinates China's lithography effort, according to the Financial Times, and the flagship tool it is coordinating uses projection optics that Zeiss says it sells only to ASML, which bounds how fast substitution can actually arrive.
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Huawei's own paper puts transistor density up 53.5%, and TrendForce's relay of it does check out, but the number with money attached is Bernstein's call that Nvidia's China share falls from about 40% to 8% next year.
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CXMT turned 150.3 billion yuan of half-year sales into 77.6 billion yuan of profit. Goldman still marks the shares at about ten times next year's earnings, which is the market declining to price the shortage as permanent.
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