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Gavekal Technologies: Chips
What To Watch In 2026
Laila Khawaja
8 Jan 2026
The year 2025 was pivotal for US–China semiconductor and AI development. It saw a rollback of US AI chip export controls under President Trump and DeepSeek's breakthrough that shifted competition toward software innovation and open-source models. Chinese firms found workarounds to controls while advancing indigenously, and Beijing continued to expand support for the semiconductor sector. In 2026, US policy may pivot from export controls toward broader tools to extend US spheres of influence and constrain China's, amid intensifying competition across the AI stack. It will also be an acid test for China’s tech rally, as companies must deliver earnings that justify elevated valuations. This report outlines the top AI and semiconductor themes to watch in 2026.
Gavekal Technologies: Chips
Open Door And Chip Self-Sufficiency
Laila Khawaja
18 Dec 2025
China plans new chip subsidies, top officials meet AMD chief and China sees rising chip exports
Gavekal Technologies: Briefing
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Gavekal Technologies: Chips
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