TSMC Denies U.S. Investigation Over Huawei Chip Allegations

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.