Under the newly announced trade ceasefire, China will delay its sweeping new export controls on rare earth elements, while the U.S. holds off on fresh tariffs. But Blackwell’s exclusion from talks highlights the deepening rift between the two nations.

A U.S. startup is developing a compact particle-accelerator-based X-ray lithography system that could surpass ASML’s EUV scanners in resolution and cut wafer costs tenfold by the end of the decade, but its plan to build its own fabs rather than sell tools means it must reinvent the entire semiconductor production supply chain from the ground up.