What Happened
Concerns Over National Security Risks After Blockbuster IPO
US lawmakers are calling for a national security probe into Chinese chipmaker CXMT after its blockbuster IPO, which raised $8.6 billion and made it the most valuable firm on a China mainland exchange. The Pentagon listed CXMT as a Chinese military company on June 8, and lawmakers fear that Chinese microchips could infiltrate US military supply chains. The push for a probe comes as the US and China engage in an escalating tech war, with the US seeking to limit China’s access to advanced Western technology. This development was first reported by The New York Post.