The United States on Monday launched its third crackdown in three years on China's semiconductor industry, curbing exports to 140 companies including chip equipment maker Naura Technology Group, among other moves.

The sanctions also include limited exports of high-bandwidth memory chips that are critical for AI training, and chipmaking equipment produced in countries like Israel, Malaysia, Singapore, South Korea and Taiwan.

New US restrictions will hit two dozen semiconductor companies, two investment firms and over 100 chipmaking tool makers, sources told Reuters.

The US has introduced new export controls in an effort to curtail China’s ability to create an advanced semiconductor industry and to slow its development of artificial intelligence with military applications.

The United States announced new export restrictions Monday targeting China's ability to make advanced semiconductors, drawing swift condemnation from Beijing as competition deepens between the world's two biggest economies.