The strong American showing is good news for China, which needs advanced chip technology to power its AI development and is keen to win over companies that can provide it. The business opportunities afforded by the massive Chinese market remain essential to many American companies. China is a leading information technology production hub, as well as the world’s top auto production center — an increasingly important field for chipmakers as the number of semiconductors used in vehicles continues to rise. Qualcomm generated roughly two-thirds of its sales last year in China, a major production base for many of the smartphone...