BUSINESS

United States chipmakers prepare for critical earnings

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Qualcomm Incorporated and Lam Research Corporation are set to report closely watched quarterly results as investors scrutinize the outlook for key semiconductor markets. Lam Research heads into its fiscal fourth quarter 2026 earnings release with a market capitalization of about $364.7 billion after its share price climbed 165.5 percent over the past year, supported by strong demand for semiconductor manufacturing and etch tools. Analysts forecast diluted earnings per share of $1.69 for the quarter. Qualcomm, whose shares remain well below prior highs, faces pressure in its core handset segment while investors assess early revenue from artificial intelligence and automotive businesses.

Prepared by Christopher Adams and reviewed by editorial team.

Timeline of Events

· On May 2026: Taiwan detained three for exporting Nvidia AI servers to China.
· On June 2026: Taiwan detained two Super Micro workers in probe's second round.
· On March 2026: US DOJ charged three over $2.5B Nvidia chip smuggling.
· On July 2, 2026: Singapore seized $40M bungalow in AI chip fraud probe.
· On May 28, 2026: Taiwan suspected chip smuggling route via Japan emerged.
· On July 24, 2026: Taiwan raided Nvidia employee's home and workplace.
· On July 28, 2026: Taiwan prosecutors detained Nvidia employee surnamed Chang.
· On July 28, 2026: Nvidia CEO Jensen Huang met Commerce Secretary Lutnick.
· On July 28, 2026: Nvidia stated "smuggling is a nonstarter" to media.
· On July 29, 2026: Taipei Times reported seven total held in probe.
· On July 28, 2026: Taiwan detained Nvidia employee over AI chip smuggling.
· On July 28, 2026: Keelung prosecutors cited flight and evidence destruction risks.
· On July 28, 2026: Nvidia CEO met US commerce chief amid investigation.
· On July 28, 2026: Seven suspects now held including Super Micro and Albatron.
· On July 28, 2026: Alleged forged documents for 50 servers exported.
· US AI framework expected by August 1, 2026, may tighten rules.
· Further charges possible in Taiwan, US, and Singapore investigations.
· Nvidia faces increased regulatory scrutiny over China export compliance.
· Additional arrests likely as probe widens beyond current seven.
· US government may impose new sanctions on Chinese AI labs.

Why This Matters to You

· Immediate US impact:** Heightened national security risk from AI chip diversion.
· Long-term US impact:** Stricter global export controls and supply chain fragmentation.
· Affected groups:** Nvidia, Super Micro, US semiconductor industry, national security agencies.
· Reader priority:** Verify sources; monitor official statements and regulatory filings.