Hello, I am a market explorer.
Have you noticed that the global semiconductor industry landscape is quietly changing?
The strategies of three industry giants, ASML, Micron, and NVIDIA, in China have undergone significant changes.
These seemingly independent events are actually the result of a combination of geopolitical games and the rise of China’s local industrial chain, which may mark the beginning of a new era.
ASML
As the absolute leader in the lithography machine field, ASML’s movements have always been a barometer for the industry. Although the company’s latest financial report shows a surge in global orders, its CEO has become increasingly cautious about future expectations for the Chinese market, predicting that sales in 2026 will be significantly lower than in the past two years.
This expectation is driven by the rapid growth of local equipment manufacturers in China.
Companies represented by North Huachuang and Zhongwei have gradually developed the capability to replace products in the mature process field, moving from “unusable” to “sufficiently usable,” and are gradually reducing domestic wafer fabs’ dependence on imported equipment.
Therefore, ASML’s future challenges do not stem from “expulsion,” but from the natural evolution of the competitive landscape within the market. The wave of localization in the Chinese market is pushing this industry giant into a new, competitive phase.
Micron
The situation of storage chip giant Micron in the Chinese market reflects more of the impact of policy.
Since China initiated a cybersecurity review of its products in 2023, Micron has faced strict restrictions on market access in key information infrastructure sectors.
This coincides with an unprecedented increase in investment in data center construction in China, effectively closing a huge incremental market.
The contrast between market access barriers and significant market opportunities ultimately prompted Micron to adjust its server chip business in China, accompanied by corresponding personnel optimization.
The market vacuum left by Micron’s retreat has quickly been filled by local companies such as Yangtze Memory Technologies and Changxin Memory Technologies.
This indicates that in specific areas, policy direction has become a key force in reshaping market share.
NVIDIA
The case of NVIDIA clearly reveals how technological blockades can act as a catalyst, accelerating the process of independent innovation.
Once upon a time, NVIDIA dominated the Chinese AI computing power market with its high-end GPUs.
However, U.S. export control policies have cut off the supply channels for these high-performance chips.
Although NVIDIA attempted to launch “downgraded” products that comply with regulations, the market response was tepid, failing to turn the situation around.
As its CEO Jensen Huang stated, restrictions on trade with China will also have a counterproductive effect on the U.S. itself.
This external pressure has instead created unprecedented development opportunities for local AI chip companies in China.
Companies like Huawei Ascend and Biren Technology have rapidly risen, beginning to challenge NVIDIA’s previously unshakeable position in various application scenarios.
For the Chinese market, NVIDIA is transitioning from “the only answer” to “one of many options,” and its market myth is being rewritten by a diversified computing power landscape.
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