US semiconductor maker Microchip Technology said on Tuesday it had detected “potentially suspicious activity” targeting its IT systems over the weekend.
Microchip reported to the Securities and Exchange Commission that an unknown threat actor had disrupted the use of “certain servers and some of our operations,” but did not provide further details.
Once the company became aware of the incident, it isolated the affected systems, shut down certain services, and launched an investigation with the help of external cybersecurity experts.
As of Tuesday, the manufacturing facility was “operating at lower than normal levels,” affecting Microchip's ability to fulfill orders.
“We are working diligently to bring some of the affected IT systems back online, restore normal business operations and mitigate the impact of the incident,” the company said.
As the investigation is ongoing, the full extent, nature and impact of the incident are not yet known and it is not clear who was behind the attack, the officials said.
Microchip has not yet determined whether this incident may have a material effect on its financial condition or results of operations.
The company manufactures and sells products such as microcontrollers, embedded security and radio frequency devices to companies in the automotive, industrial, aerospace and defense industries, and is expected to reach $7.6 billion in sales in 2024.
Semiconductor companies are attractive targets for financially motivated and nation-state hackers alike. In June, UK-based Arm and California-based Nvidia warned customers about new flaws in their graphics processors (GPUs) that could be exploited by hackers. Last October, US chipmaker Qualcomm said hackers may be exploiting multiple vulnerabilities in its GPUs.
The United States closely protects domestic microchip manufacturers, and last year unveiled national security “guardrails” for companies seeking federal funding to boost domestic semiconductor manufacturing.
One regulation bans companies from expanding significant semiconductor manufacturing capacity in foreign countries, such as China or Russia, for 10 years to “prevent foreign adversaries from misusing our technology and innovation.”
Overall, the Biden administration's CHIPS and Science Act passed in 2022 authorized investments of about $53 billion in U.S. semiconductor manufacturing, research, and development.
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