TODAY'S ASIA TECH: Nvidia, Intel, UMC, WuXi

Nvidia CEO Jensen Huang visited Taiwan this week after a trip to mainland China, where he met with TSMC CEO C. C. Wei to discuss artificial intelligence (AI) chip supply constraints.

Before attending a year-end party hosted by Nvidia's Taiwan branch on Thursday evening, Huang said that AI is now at the beginning of its expansion and growth, and that the next decade will see computing reshaped and every industry affected.

As for the challenges facing the development of AI, he believes it is how to expand the capacity of AI chips.

US chipmaker Intel Corp. (Nasdaq: INTC) and Taiwan's United Microelectronics Corp. (NYSE: UMC, UMC) have joined forces to develop a 12nm process platform to take on TSMC.

 Chinese pharmaceutical company WuXi AppTec Co Ltd (2359.HK) plunged nearly 20% after U.S. lawmakers proposed a new ban.

Shares of Chinese innovative drug and CXO companies, represented by WuXi AppTec, fell on Friday afternoon.

Not long ago, the U.S. Congress introduced bipartisan legislation to "ensure foreign adversary biotech companies of U.S. national security concern do not gain access to U.S. taxpayer dollars."

Artificial intelligence startup Krutrim, founded by CEO of Indian ridesharing company Ola Cabs, on Friday announced it has closed a $50 million funding round led by Matrix Partners India at a valuation of $1 billion.

Fifteen U.S. chip companies have expressed interest in investing $8 billion in Vietnam, a U.S. senior official visiting the Asian country said on Friday.

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