Gate News message, April 17 — Chinese laser chip company Yuanjie took the top spot on mainland China’s stock market on Friday, rising as much as 9.6% to a record 1,439 yuan, displacing Kweichow Moutai as the best performer. The company’s stock has more than doubled in 2026. Meanwhile, Moutai, China’s biggest distiller, logged its worst drop in a year after reporting its first annual decline in both sales and profit in 20 years.
Global chipmakers posted strong earnings, with Taiwan Semiconductor Manufacturing Co. (TSMC) reporting first-quarter profit jumped 58%, beating estimates and marking the company’s fourth consecutive quarter of record profit. CEO C.C. Wei stated, “AI-related demand continues to be extremely robust.” High-performance computing, which includes AI chips, accounted for 61% of TSMC’s first-quarter revenue, up from 55% in the prior quarter. Despite the strong results, TSMC shares fell about 3% on Thursday. Dutch chip equipment maker ASML also posted solid first-quarter results and raised guidance, yet the stock fell as much as 6.5% on Wednesday and closed about 2.5% lower, with shares slipping another 3% on Thursday.
European startups are racing to develop alternatives to Nvidia’s graphics processing units, with investors backing multiple funding rounds. Dutch startup Euclyd, backed by former ASML chief executive Peter Wennink, is discussing a fundraising round of at least 100 million euros (approximately $118 million). In the U.K., Optalysys is planning a raise of more than $100 million later this year, while British startup Fractile and France’s Arago are reportedly seeking nine-figure rounds. In 2026 alone, investors have already committed more than $200 million to the Netherlands’ Axelera and Britain’s Olix.
Meanwhile, the U.S. House of Representatives introduced the MATCH Act (Multilateral Alignment of Technology Controls on Hardware Act) on April 2 with bipartisan support, aimed at restricting China’s access to chip equipment. The latest version, allegedly seen by Reuters, maintained a new nationwide restriction on ASML’s deep ultraviolet immersion lithography machines and seeks to align U.S. restrictions with Japan and the Netherlands.
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