This article only represents the author's own views.
As Washington continues to tighten the screws on China's access to advanced semiconductor technology, Beijing's push to develop a self-sufficient chip industry has shifted from strategic ambition to urgent necessity. China-based firms, backed by billions of dollars in state support, are now racing against time to develop domestic alternatives to Western technology, seeking to break a decades-long dependence that has become a critical national vulnerability.
Straddling this growing divide are a number of companies with bases in the West and other Asian countries, but substantial operations in China, which are having to tread carefully to avoid getting squeezed in the rivalry. One such lesser-known name, ACM Research (ACMR.US), appears to be riding the massive wave of Chinese investment, positioning itself uniquely as a U.S.-based company with extensive operations in China through its Shanghai unit.