India, Jan. 31 -- A €37 billion power move from China is sending shockwaves through the global semiconductor industry. As Beijing ramps up efforts to challenge Europe's chip dominance, markets are already feeling the pressure. Could this be the beginning of a massive tech shift-or just another ambitious gamble? The real battle is only just starting. and the stakes couldn't be higher.

The global semiconductor race has just reached a new level of intensity. China, long seen as a technology follower, is making a bold move to rewrite the rules of the industry. With a €37 billion investment, Beijing is accelerating its efforts to develop homegrown semiconductor technology, targeting the one area where it has been most vulnerable: ...