GOP Senator Marco Rubio Calls For US Sanctions On Chinese Chip Firm Brite
Portfolio Pulse from Benzinga Neuro
Senator Marco Rubio is pushing for sanctions against Brite Semiconductor, a Chinese chip design company with ties to China's military suppliers and part-owned by SMIC, which is already under U.S. restrictions. Rubio's letter highlights Brite's use of U.S. technology and investment, including software from American companies Synopsys Inc (SNPS) and Cadence Design Systems Inc (CDNS), and calls for action to prevent China's technological advancement. Other legislators and investors, such as Norwest Venture Partners backed by Wells Fargo, are also scrutinized for their involvement with Brite.
December 21, 2023 | 8:37 am
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NEGATIVE IMPACT
Cadence Design Systems Inc may experience a short-term negative impact due to potential sanctions on Brite Semiconductor, which could restrict its dealings with the Chinese company.
Given that Brite Semiconductor is a user of Cadence Design Systems' software, sanctions could lead to a loss of sales and affect the company's financials in the short term.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Synopsys Inc, a provider of chip design software, may face short-term negative impact if sanctions against Brite Semiconductor are enacted, potentially limiting its business with the Chinese firm.
As Brite Semiconductor uses Synopsys' software, sanctions could disrupt this business relationship, leading to a potential decrease in revenue for Synopsys from the Chinese market.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70