Reuters reports that Chinese scientists have completed the country’s first extreme ultraviolet lithography machine, used to produce the advanced semiconductors used to power artificial intelligence applications. The prototype was reportedly reverse-engineered by scientists who used to work at the Dutch chip leader ASML. They reportedly plan to start producing chips by 2028. (REUTERS)
A fleet of tankers carrying Russian oil is reportedly gathering off the east coast of China, after India curbed its purchases of Russian oil due to Western sanctions. Indian imports fell from 2 million barrels per day to 800,000 barrels per day. At least five ships carrying about 3.4 million barrels are gathered in the Yellow Sea close to Shandong. It is unclear whether the oil on board has already been sold to Chinese buyers. (BLOOMBERG)
