📚 China Woos US Tech Giants Apple, Qualcomm, Meta at Shanghai AI Expo

Big U.S. tech companies have flocked to the World Artificial Intelligence Conference that opened Thursday in Shanghai, drawing a stark contrast with Washington's ongoing efforts to distance itself economically from China. From a report: The opening ceremony included a virtual address by Qualcomm CEO Cristiano Amon, who said the company will supply the most complete and comprehensive technology and solutions in China and the world. Apple, Advanced Micro Devices, Facebook parent Meta and GE HealthCare also have executives or booths at the event, according to Chinese media. Europe's semiconductor industry is represented as well, with executives from Netherlands-based NXP Semiconductors, a major supplier of automotive chips, and Germany's Infineon Technologies discussing development plans. The strong American showing is good news for China, which needs advanced chip technology to power its AI development and is keen to win over companies that can provide it. The business opportunities afforded by the massive Chinese market remain essential to many American companies. China is a leading information technology production hub, as well as the world's top auto production center -- an increasingly important field for chipmakers as the number of semiconductors used in vehicles continues to rise. Qualcomm generated roughly two-thirds of its sales last year in China, a major production base for many of the smartphone manufacturers that are among its main customers. The country accounts for just under 30% of sales at AMD and Intel, 20% at Micron Technology and over 30% at NXP.

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