Taiwan Semiconductor Manufacturing Company has denied being investigated by the U.S. over alleged dealings with Huawei. Reports had surfaced that TSMC chips were found in Huawei products, raising concerns about potential violations of U.S. export rules. A TSMC spokesperson stated that the company complies with all export regulations and is unaware of any probe. Huawei has been on the U.S. trade blacklist since 2019, and TSMC stopped supplying chips to the company in 2020. The U.S. Commerce Department did not respond to requests for comment. TSMC shares dropped 1.4% following the reports.
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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Taiwan's semiconductor manufacturing company has denied being under investigation by the
00:07U.S. over alleged dealings with Huawei.
00:10Reports had surfaced that TSMC chips were found in Huawei products, raising concerns
00:14about potential violations of U.S. export rules.
00:18A Taiwan semi-spokesperson stated that the company complies with all export regulations
00:22and is unaware of any probe.
00:25Huawei has been on the U.S. trade blacklist since 2019, and TSMC stopped supplying chips
00:30to the company in 2020.
00:32The U.S. Commerce Department did not respond to requests for comment.
00:36TSMC shares dropped 1.4 percent following the reports.