TAIPEI -- Shares in several Chinese chip companies tumbled by up to 20% on Monday after the U.S. unveiled its toughest curbs yet on Beijing's tech ambitions.
Chinese companies from semiconductor equipment and materials makers to AI chip developers are bracing for the impact of the new rules announced on Friday, which include curbs on tech exports to China as well as restrictions on "U.S. persons" working for companies -- including American, Chinese or foreign -- that provide support for China's homegrown chip development.
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