Major Chinese technology companies are racing to secure Huawei’s latest artificial intelligence chips following the release of DeepSeek’s new V4 model, according to sources familiar with the matter.

China’s industrial sector recorded strong profit growth in the first quarter of 2026, as proactive macroeconomic policies helped offset the effects of a complex economic environment and strengthened momentum in high-end manufacturing, according to official data released on Monday.

Taiwan Semiconductor Manufacturing Co (TSMC), the world’s largest producer of advanced artificial intelligence chips, is expected to post a fourth straight quarter of record earnings, with net profit for January–March projected to jump by 50% amid strong demand for AI infrastructure.

U.S. chipmaker Nvidia is set to partner with Humain, an AI startup owned by Saudi Arabia’s sovereign wealth fund, and will deliver 18,000 chips to the country to support the development of a new data center project.

Nvidia is expected to report a more than doubling of its second-quarter revenue on Wednesday, but even a slight miss could negatively impact its stock.