Core Viewpoint - Semiconductor stocks continue to weaken, with notable declines in companies such as SMIC, Hua Hong Semiconductor, ASMPT, and Shanghai Fudan, indicating a challenging market environment for the sector [1] Group 1: Stock Performance - SMIC (00981) fell by 3.79% to HKD 62.25 [1] - Hua Hong Semiconductor (01347) decreased by 2.97% to HKD 65.3 [1] - ASMPT (00522) dropped by 2.39% to HKD 73.4 [1] - Shanghai Fudan (01385) declined by 2.24% to HKD 40.16 [1] Group 2: Market Developments - Trump announced that NVIDIA will be allowed to export its H200 AI chips to "approved customers" including China, with the condition that the U.S. government receives a 25% share from these sales [1] - Donghai Securities indicated that this move could accelerate the AI model training process in China, while also putting pressure on domestic AI chip manufacturers in the short term [1] Group 3: Industry Insights - Broadcom is expanding its market share in the AI chip sector due to increased demand for custom chips driven by large-scale data center construction [1] - However, Broadcom's CEO expressed concerns that the gross margin for the first quarter of 2026 will be lower than the previous three quarters due to the increased proportion of AI business [1] - Investor worries are growing regarding the return on investment for large tech companies in AI [1]