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ASML says ex-China employee misappropriated data relating to its critical chip technology - TL;DR CNBC

ASML says ex-China employee misappropriated data relating to its critical chip technology

Publishing timestamp: 2023-02-15 04:54:52


Summary

ASML recently discovered that a former employee in China had misappropriated data related to its proprietary technology. ASML has reported the incident to relevant authorities and does not believe it is material to its business. The incident comes at a sensitive time for ASML and the Netherlands, as they are caught in the middle of a tech supremacy battle between the US and China. The US has reportedly put pressure on the Dutch government to stop ASML from shipping its advanced chipmaking tools to China. China is trying to boost its own semiconductor industry, but without ASML's machinery, it will be difficult for China to manufacture the most advanced chips.


Sentiment: NEUTRAL

Tickers: ASML-NL

Keywords: espionagechinaasml holding nvunited statespoliticsbusiness newscybersecurity

Source: https://www.cnbc.com/2023/02/15/critical-chip-firm-asml-says-former-china-employee-misappropriated-data.html


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