Micron Technology is facing a cyber security probe in China as tensions between the US and its Asian allies over tech exports escalate.
In response to new restrictions on technology sales to Beijing, China has launched an investigation into the US-based memory chip maker, according to officials from the Cyberspace Administration. The probe aims to "ensure the security of key information infrastructure supply chains" and "prevent cybersecurity risks caused by hidden product problems".
The move comes as Washington and its allies have announced curbs on China's semiconductor industry, which are aimed at restricting Beijing's bid to become a tech superpower. Last month, Japan said it would restrict the export of advanced chip manufacturing equipment to countries including China, following similar moves by the US and the Netherlands.
Micron shares plummeted 4.4% on Wall Street after the news, their biggest drop in over three months. The Idaho-based company derives more than 10% of its revenue from China, according to earlier filings.
In a statement, Micron said it was aware of the review and would cooperate fully with the investigation. "We are cooperating fully with the CAC," the company said. "Micron's product shipments, engineering, manufacturing, sales and other functions are operating as normal."
China has strongly criticized restrictions on tech exports, saying last month that Beijing "firmly opposes" such measures. However, in efforts to boost growth and job creation, Beijing is seeking to woo foreign investments, with newly minted premier Li Qiang promising a "good environment and services".
The probe into Micron highlights the growing pressure on foreign companies to bring them into line with China's agenda. Last month, authorities closed the Beijing office of Mintz Group, a US corporate intelligence firm, and detained five local staff.
As tensions between the US and its Asian allies continue to escalate, companies like Micron face increasing scrutiny from Chinese regulators. The outcome of the investigation is uncertain, but it marks another front in the tech industry's rivalry with China.
In response to new restrictions on technology sales to Beijing, China has launched an investigation into the US-based memory chip maker, according to officials from the Cyberspace Administration. The probe aims to "ensure the security of key information infrastructure supply chains" and "prevent cybersecurity risks caused by hidden product problems".
The move comes as Washington and its allies have announced curbs on China's semiconductor industry, which are aimed at restricting Beijing's bid to become a tech superpower. Last month, Japan said it would restrict the export of advanced chip manufacturing equipment to countries including China, following similar moves by the US and the Netherlands.
Micron shares plummeted 4.4% on Wall Street after the news, their biggest drop in over three months. The Idaho-based company derives more than 10% of its revenue from China, according to earlier filings.
In a statement, Micron said it was aware of the review and would cooperate fully with the investigation. "We are cooperating fully with the CAC," the company said. "Micron's product shipments, engineering, manufacturing, sales and other functions are operating as normal."
China has strongly criticized restrictions on tech exports, saying last month that Beijing "firmly opposes" such measures. However, in efforts to boost growth and job creation, Beijing is seeking to woo foreign investments, with newly minted premier Li Qiang promising a "good environment and services".
The probe into Micron highlights the growing pressure on foreign companies to bring them into line with China's agenda. Last month, authorities closed the Beijing office of Mintz Group, a US corporate intelligence firm, and detained five local staff.
As tensions between the US and its Asian allies continue to escalate, companies like Micron face increasing scrutiny from Chinese regulators. The outcome of the investigation is uncertain, but it marks another front in the tech industry's rivalry with China.
So what's up with Micron getting probed by China? It's like, they're basically saying that if you want to do business in China, you gotta play by their rules 
. I'm not surprised, though - the US and its allies have been cracking down on tech exports to China left and right 
. But Micron's been pretty open about how much of a big deal China is for them 
. 10% of their revenue comes from there? That's no joke 
.
? Like, they're saying "Hey, come work for us and love!" but then "Uh, sorry, you gotta follow our rules" 
. It's all just part of this huge tech rivalry between the US and China 
.
. Will they be able to navigate these regulations? Only time will tell 
.
Their lack of transparency and quality control is a joke, especially when it comes to security issues 
.
. And yeah, it does highlight the growing pressure foreign companies are under to comply with China's agenda.
. It's better to be transparent and show that they're committed to doing business responsibly in China 
. But let's not forget, this probe also gives China an opportunity to showcase its regulatory muscle 
. Companies need to be aware of these risks when doing business in China, but I don't think it's time to panic just yet 
to me...
is getting crazy 
! US and Asia's allies trying to restrict China's semiconductor industry 
. But, what's next? 
Micron shares took a hit 
that's some serious volatility 
is like, come on! 
Can't we all just get along? 
Li Qiang promising a "good environment and services" 
for foreign investments... fingers crossed 
. Maybe this probe will be just that - a probe 
For Micron, it's gotta be tough seeing their business take a hit like that - they're already relying on China for 10% of their revenue, so this must be causing them some stress 
. It's all part of this tech superpower rivalry that's heating up between the US and China, and it'll be interesting to see how things play out from here 
and now these big players like micron r gettin the heat over security issues... what's the diff? 
maybe it's all about scale, but at the end of the day, it's just more red tape for us consumers 
meanwhile, i'm keeping my fingers crossed for a peaceful resolution 
let's keep the world of tech trade open and prosperous 
.
. And if that's the case, it could be a wake-up call for Washington and its allies to take a closer look at their own tech export policies. The thing is, China's got a lot of leverage right now, and Micron's just one of many chips on the table 
The Chinese government is all like "we're opening our arms" but I'm calling BS 
this is getting super intense 
... when companies have access to critical tech infrastructure like Micron does, they've got a duty to protect it and ensure it's not being used for nefarious purposes. It's not just about avoiding sanctions or fines - it's about doing what's right for everyone involved.