Technology · 10.1

Semiconductor Value Chain

Quantified news impact based on deduplicated, quality-reviewed events in a single 7-day window.

Average net impact+12weighted per event

Average gross impact15absolute weighted average

Events111same period

Confidence76%model average

Raw intensity63before weighting

Previous period+29net impact

Gross change-54%

Diffusion speed15.9 / day

Concentration2%

Direction disagreement18%

Source independence97%26 sources

IMPACT TREND

7-day effective impact

Positive 85 · Negative 9 · Mixed 17

+320-32

28 Jul, 0123 events

28 Jul, 1514 events

29 Jul, 0515 events

29 Jul, 1911 events

+12

30 Jul, 0910 events

+16

30 Jul, 2311 events

+19

31 Jul, 1310 events

1 Aug, 032 events

1 Aug, 170 events

+20

2 Aug, 071 event

+17

2 Aug, 217 events

+30

3 Aug, 117 events

Current periodPrevious period

TIME HORIZON

Impact duration

Immediate3%55 cumulative effective impact

Short term36%580 cumulative effective impact

Medium term53%865 cumulative effective impact

Long term8%128 cumulative effective impact

CO-IMPACT

Related industries

EVENT EVIDENCE

Events ranked by effective impact

Page 4 of 11 · 109 events

Macro4

Macro29 Jul, 06:52positive

New Infrastructure Hits RMB2.98 Trillion in H1 2026; Intelligent Computing Up 177%, 5G Stations Top 5.05

China’s new infrastructure drive maintained steady momentum in the first half of 2026, with the core industry scale reaching RMB2.98 trillion. Intelligent computing power surged 177% to 2,185 EFLOPS, while 5G base stations topped 5.05 million and the 5G-A network covered 330 cities. Technology-oriented loans rose sharply, and credit tilted toward the sector. Listed new infrastructure companies’ combined net profit jumped over 59%, with computing and data infrastructure profits more than doubling. The government advanced low-orbit satellite constellation deployment, drone airspace mapping, and granted 6 GHz spectrum for 6G trials.

Effective: +18
Intensity: 78
Confidence: 82%
Horizon: Medium term

Macro31 Jul, 03:45negative

Data center opposition surges in 2026 midterms: 58% voter opposition, over 300 bans, $130 billion in stalled

Mounting voter opposition to AI data center construction is reshaping the 2026 US midterm elections. A June Yale survey shows 58% of registered voters oppose building data centers near their homes, a sentiment shared by 53% of conservative Republicans and 74% of liberal Democrats. More than 300 cities, towns, and counties have enacted bans or moratoriums. In the first quarter of 2026 alone, 75 large projects were delayed or canceled, representing over $130 billion in investment. New York Governor Kathy Hochul signed the nation’s first statewide moratorium, and states from California to Texas are seeing growing protests and political fallout.

Effective: -17
Intensity: 60
Confidence: 70%
Horizon: Medium term

Macro29 Jul, 10:44positive

Dongguan's Population Hits 10.8 Million, GDP Surpasses Foshan to Become Guangdong's Third-Largest City

In 2025, Dongguan's permanent population reached 10.80 million, with an increase of 229,600, ranking second nationally after Shenzhen. In the first half of 2026, Dongguan's 64 A-share listed companies had a combined market capitalisation of over RMB 1.4 trillion, up 76.25% from the end of 2025, the second-fastest growth among trillion-GDP cities after Wuhan (80.99%). Dongguan's GDP for the first half of 2026 reached RMB 642.7 billion, surpassing Foshan for the first time to become the third-largest city economy in Guangdong. The city's industrial output grew 6.9% year-on-year, with advanced manufacturing up 7.4% and high-tech manufacturing up 9.4%.

Effective: +17
Intensity: 80
Confidence: 85%
Horizon: Short term

Macro30 Jul, 02:00negative

Fed Holds Rates Steady in July as Dissent Intensifies; Three Officials Push for a Hike

The Federal Reserve kept the federal funds rate at 3.5% to 3.75% in July, but divisions erupted as three regional bank presidents dissented in favor of a quarter-point increase. The 9-3 vote, with opposition from Cleveland, Minneapolis and Dallas Fed chiefs, marked a sharp shift from June’s unanimous decision and represented the fifth consecutive pause. While some global tech firms reported solid second-quarter earnings, their share prices came under pressure and the US Treasury yield curve steepened. The central bank reiterated that inflation remains elevated, partly owing to shocks.

Effective: -16
Intensity: 65
Confidence: 75%
Horizon: Short term

Industries1

Industries30 Jul, 18:29positive

China Internet and Software Revenue Grows Steadily in First Half of 2026, Profit Growth Diverges

In the first half of 2026, China's internet and software sectors posted steady revenue growth but diverging profit trends. Internet business revenue reached 1,067.5 billion RMB, up 10.1% year-on-year, while profit surged 16.6% to 98.99 billion RMB. Software revenue rose 9.5% to 7,718.2 billion RMB, but profit growth slowed to 1.0% at 899.9 billion RMB. Software exports grew 11.4% to 33.79 billion USD. R&D spending in the internet sector increased 14.1% to 59.55 billion RMB.

Effective: +18
Intensity: 75
Confidence: 80%
Horizon: Short term

Companies5

Companies31 Jul, 01:47positive

Nexus Data Centers Seeks $15 Billion for Anthropic Texas AI Data Center; Google Provides Financing Guarantee

Nexus Data Centers is in advanced talks to raise about $15 billion for an AI data center in Texas serving Anthropic, with Google providing a financing guarantee and supplying chips. The project in Hubbard, Texas, includes a 1.6 GW gas-fired power plant. A Morgan Stanley-led bank group is discussing $14 billion in bridge loans and revolving credit. Google has agreed to guarantee billions of dollars in payments if Anthropic defaults on leases and power purchase agreements. Anthropic plans to deploy tensor processing units designed by Google and Broadcom, with chip procurement under a separate vendor financing agreement.

Effective: +18
Intensity: 60
Confidence: 80%
Horizon: Medium term

Companies28 Jul, 16:29positive

Changxin Technology STAR Debut: Market Cap Tops RMB3.2 Trillion, Founder Commits 768 Million Shares to

Changxin Technology debuted on the STAR Market on July 27, 2026, with its market capitalisation closing above RMB3.2 trillion, surpassing Intel. Founder Zhu Yiming committed 768 million shares—half of his 1.536 billion shares—to a ten-year employee incentive plan valued at about RMB36.75 billion, with no new share issuance. Shares begin vesting after a 36-month lock-up, with full distribution over ten years. Zhu also agreed not to sell his remaining shares for a decade. Major shareholders include Hefei state-owned entities (36.79%), Alibaba affiliates (4.97%), and Tencent (1.50%), alongside Nio, BYD, and national funds. The company employs nearly 20,000 people, with 6,259 in R&D.

Effective: +18
Intensity: 85
Confidence: 80%
Horizon: Medium term

Companies31 Jul, 17:28positive

GigaDevice Plans RMB 1-2 Billion Share Buyback for Cancellation, Chairman Proposes Increase

GigaDevice Semiconductor (603986. SH) plans to repurchase A-shares worth RMB 1 billion to RMB 2 billion for cancellation, funded by its own or borrowed funds. Chairman Zhu Yiming proposed the buyback and plans to increase his holdings by at least RMB 1 billion. The buyback represents up to 7.2% of total assets, 7.91% of net assets, and 13.61% of cash. Separately, Zhongchuang Zhiling announced a buyback of RMB 300-400 million, with 50% for cancellation and 50% for equity incentives.

Effective: +17
Intensity: 60
Confidence: 80%
Horizon: Short term

Companies28 Jul, 20:35positive

Qimonda Technology Reborn: Changxin Technology Raises 57.9 Billion Yuan in STAR Market IPO, Market Cap Reaches

Changxin Technology listed on the STAR Market on July 27, raising RMB 57.919 billion in the largest IPO on the board, surpassing Semiconductor Manufacturing International Corp.' s record. The stock surged 465.82% on debut, lifting its market capitalization to RMB 3.27 trillion. Separately, Xi'an Unigroup Guoxin filed for a listing on the Beijing Stock Exchange on June 30, 2026. Both companies trace their technology lineage to Qimonda, the German DRAM maker that collapsed in 2009. Changxin follows an IDM model, while Unigroup Guoxin operates as a fabless firm.

Effective: +16
Intensity: 85
Confidence: 80%
Horizon: Long term

Companies31 Jul, 08:58positive

Apple CEO Cook Says Storage Chip Price Hikes Raise Costs, Evaluating Procurement Options

Apple CEO Tim Cook said on July 30 during an earnings call that rising storage chip prices are increasing costs, prompting the company to evaluate all available options. He noted that the DRAM market is dominated by three suppliers, and a broader supplier base could improve supply and positively influence product pricing.

Effective: +16
Intensity: 60
Confidence: 80%
Horizon: Short term