The world's top chipmakers can flip a 'kill switch' should China invade Taiwan, Bloomberg reports

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Two of the world's most important chip companies can flip a "kill switch" remotely on their most advanced chipmaking machines should China invade Taiwan, Bloomberg reported on Tuesday, citing people familiar with the matter.

The Netherlands' ASML — Europe's top tech company by market value — supplies advanced machines to chipmaking companies. They include Taiwan's TSMC, which produces, by some estimates, 90% of the world's most advanced processor chips.

The news of a forced shutdown, or a "kill switch," on ASML's chipmaking gear comes amid intensifying rivalry between Washington and Beijing and mounting concerns over a potential Chinese invasion of Taiwan, which Beijing claims as its own territory.