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☆ South Korean firms get indefinite waiver on US chip gear supplies to China
▼ + stars: | 2023-10-09 | by ( ) edition.cnn.com time to read: +2 min

The United States had been expected to extend a waiver granted to the South Korean chipmakers on a requirement for licenses to bring US chip equipment into China. The United States has already notified Samsung and SK Hynix of the decision, indicating that it is in effect, Choi said. Samsung and SK Hynix, the world’s largest and second-largest memory chipmakers, have invested billions of dollars in their chip production facilities in China and welcomed the move. SK Hynix said: “We welcome the US government’s decision to extend a waiver with regard to the export control regulations. The companies together controlled nearly 70% of the global DRAM market and 50% of the NAND flash market as of end-June, data from TrendForce showed.

Persons: ”, Choi, mok, ” Samsung, SK Hynix Organizations: Seoul Reuters, Samsung Electronics, SK Hynix, United, Korean, Samsung, US Department of Commerce, SK Locations: Seoul, China, United States, Xian, Wuxi, Dalian, TrendForce

☆ ChatGPT-owner OpenAI is exploring making its own AI chips
▼ + stars: | 2023-10-06 | by ( ) www.cnbc.com time to read: +4 min

However, since at least last year it discussed various options to solve the shortage of expensive AI chips that OpenAI relies on, according to people familiar with the matter. Meta 's custom chip effort has been beset with issues, leading the company to scrap some of its AI chips, according to a Reuters report. OpenAI's main backer, Microsoft, is also developing a custom AI chip that OpenAI is testing, The Information has reported. Demand for specialized AI chips has soared since the launch of ChatGPT last year. Nvidia is one of the few chipmakers that produces useful AI chips and dominates the market.

Persons: Sam Altman, Altman, OpenAI, Bernstein, Stacy Rasgon, Meta Organizations: Reuters, Nvidia, OpenAI, Microsoft, Amazon.com, Annapurna Labs, Devices

CEO Sam Altman has made the acquisition of more AI chips a top priority for the company. Meta's (META.O) custom chip effort has been beset with issues, leading the company to scrap some of its AI chips, according to a Reuters report. OpenAI's main backer, Microsoft (MSFT.O), is also developing a custom AI chip that OpenAI is testing, The Information has reported. Demand for specialized AI chips has soared since the launch of ChatGPT last year. Nvidia is one of the few chipmakers that produces useful AI chips and dominates the market.

Persons: Dado Ruvic, OpenAI, Sam Altman, Altman, Bernstein, Stacy Rasgon, Anna Tong, Stephen Nellis, Max A, Kenneth Li, Stephen Coates 私 Organizations: REUTERS, FRANCISCO, Reuters, Nvidia, Microsoft, Google, Amazon.com, Annapurna Labs, Devices Locations: WASHINGTON, San Francisco

☆ US to indefinitely extend China waiver for South Korean chipmakers -Yonhap
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Florence Lo/Illustration/File Photo Acquire Licensing RightsSEOUL, Sept 27 (Reuters) - The U.S. is expected to indefinitely extend a waiver granted to South Korean chipmakers Samsung Electronics (005930.KS) and SK Hynix (000660.KS) on needing licenses to bring U.S. chip equipment into China, Yonhap news agency reported on Wednesday. The U.S. Commerce Department has discussed details with the South Korean chipmakers on which equipment could be used in China, said Yonhap, citing unnamed sources, adding that the U.S. would make related announcements as early as this week. Last year, the chipmakers had received authorisation from the U.S. Commerce Department to supply equipment needed for chip production in China for a year without seeking additional licenses. Samsung Electronics and SK Hynix declined to comment. Samsung Electronics has NAND flash memory production in Xian, China, whereas SK Hynix has DRAM chip production in Wuxi and NAND Flash production in Dalian, in which both companies have invested billions of dollars.

Persons: Florence Lo, Yonhap, 1,353.6600, Joyce Lee, Heekyong Yang, Muralikumar Organizations: REUTERS, Rights, South, Samsung Electronics, SK Hynix, U.S . Commerce Department, South Korean, U.S . Department of Commerce, Samsung, U.S, of Commerce, Thomson Locations: Rights SEOUL, U.S, South Korean, China, Xian, Wuxi, Dalian, TrendForce

☆ Nvidia is targeting the ad industry as its next major chip-buying market
▼ + stars: | 2023-09-26 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +5 min

Jamie Allan, Nvidia director of business development for global agencies and advertising. For Nvidia, the advertising industry unlocks access to a client base that includes virtually every single major corporation across every industry. Taboola is using Nvidia GPUs to speed up its natural language processing, which analyzes articles and serves relevant content to users. More recently, it's been using Nvidia and OpenAI technologies to allow advertisers to create images within its platform. Allan said Nvidia intends to be more involved in the advertising industry discourse and help advise companies about the adoption of AI.

Persons: Nvidia's Jamie Allan —, —, Allan, Jamie Allan, Microsoft's Bing, Stephan Pretorius, There's, Adam Singolda, it's, Media.Monks, Jay Pattisall, Forrester, Nvidia, Jensen Huang Organizations: Nvidia, Big Tech, Google, Meta, EMEA, WPP, DENZA, AWS, Adobe, Media.Monks, Oracle, Cannes Lions, pharma, they're

☆ The very rich are often bad investors. Here’s why
▼ + stars: | 2023-09-25 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

But there are only about 730 billionaires in the country, according to Forbes, and almost none of them inherited longstanding generational wealth. In fact, less than 10% of the current list of billionaires are descended from anyone on the first Forbes’ rich list, published in 1982. If you get the “What?” decision wrong and the sizing decision right, it’s still unfortunate and you’re going to lose money. Every year there’s going to be volatility — one year you’re going to be up 35% and the next year you’re going to be down 25%, but in the long term it will even out to 5%. The current walkout came close to beating the longest strike in WGA history, a 1988 strike that lasted 154 days.

Persons: New York CNN —, Forbes, Victor Haghani, ”, James White, Haghani, LTCM, CNN’s, it’s, you’re, Cornelius Vanderbilt, Chris Isidore, Oliver Darcy, Laura He Organizations: CNN Business, Bell, New York CNN, Forbes, Elm Partners, Term Capital Management, Federal Reserve, Vanderbilt, Writers Guild, Writers Guild of America, WGA Locations: New York, United States, Russia, Hollywood, China, Beijing

☆ Citi recommends a bunch of growth stocks to buy on this pullback
▼ + stars: | 2023-09-25 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

The Russell 1000 Growth Index has climbed down from its year-to-date highs, which Citi believes has set up a "buy growth on a pullback" opportunity. FY5 free cash flow per share greater than or equal to market-implied estimates. In contrast, the company's free cash flow per share consensus estimate has risen nearly $5 since the end of March. Although image-sharing company Pinterest has had a modest rally following its recent investor day, shares are still down 14% from their year-to-date highs. The full-year free cash flow per share estimate has gained $2.03 since the end of the first quarter.

Persons: Scott Chronert, Chronert, Russell, Lockheed Martin, Pinterest, — CNBC's Michael Bloom Organizations: Citi, Defense, Lockheed, Nvidia, KLA Locations: Friday's

☆ Morgan Stanley says these 6 global stocks will benefit from a 'monumental shift' in the chip industry
▼ + stars: | 2023-09-22 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +2 min

A "monumental shift" is underway in the semiconductor industry — and a raft of stocks are set to benefit, according to analysts at Morgan Stanley . "The transition to 3D 'gate-all-around' architecture marks a monumental shift for leading-edge logic chip architectures," the analysts said. Though industry players expect that initial gains will be "relatively subdued," Morgan Stanley is optimistic that the shift will create a "roadmap into the next decade." Stock picks Here are some of the stocks Morgan Stanley expects will benefit: Lam Research is one of the stocks the bank rated overweight. Morgan Stanley analysts agreed with the company's statement that "gate-all-around is good for the industry, [so] good for ASML."

Persons: Morgan Stanley, TSMC, it's, — CNBC's Michael Bloom Organizations: ramping, Materials, ASM, ASML, Intel, Samsung, GAA Locations: U.S, Swiss

The Shenzhen-based company has not explained exactly how seven-nanometer chips ended up in the new Mate 60 Pro smartphone series. Analysts estimate deliveries of the Mate 60 Pro could top 5 million this year. Follow @KatrinaHamlin on XCONTEXT NEWSHuawei started preselling its Mate 60 Pro+ smartphone alongside a new foldable phone in September. The Chinese company started selling its high-end smartphones Mate 60 and Mate 60 Pro at the end of August. The Huawei Mate 60 Pro contained a 7-nanometer processor that was made in China by Semiconductor Manufacturing International Corp, according to analysts at TechInsights.

Persons: TSMC, TechInsights, Una Galani, Thomas Shum Organizations: Reuters, TechInsights, Kirin, Manufacturing International Corp, HK, Washington, SK Hynix, Huawei, TSMC, Semiconductor Manufacturing International Corp, SK, South, Bloomberg, Thomson Locations: HONG KONG, China, Shenzhen, Beijing

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 11, 2023. Energy (.SPNY) was the top S&P 500 sector gainer, up 1.1%, as crude prices firmed near the $95-per-barrel mark on tight supply. Chipmaker Micron Technology (MU.O) rose 1.3%, following Friday's rout, after Deutsche Bank upgraded its stock rating to "buy" from "hold". Declining issues outnumbered advancers by a 1.02-to-1 ratio on the NYSE and by a 1.46-to-1 ratio on the Nasdaq. The S&P index recorded five new 52-week highs and 11 new lows, while the Nasdaq recorded 24 new highs and 172 new lows.

Persons: Brendan McDermid, Bernstein, Piper Sandler, Paul Nolte, Goldman Sachs, Janus Henderson, Wells, MoffettNathanson, Ankika Biswas, Shristi, Savio D'Souza, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Corp, Holdings, Micron, L3Harris, Dow, Nasdaq, Energy, VF, Microsoft, U.S, Treasury, Murphy, Sylvest Wealth Management, Traders, Morgan Asset Management, Janus Henderson Investors, Arm Holdings, Dow Jones, Chipmaker Micron Technology, Deutsche Bank, L3Harris Technologies, PayPal Holdings, NYSE, Thomson Locations: New York City, U.S, Bengaluru

A slew of recent hotter-than-expected economic data has eased recession concerns without raising fears of a September rate hike. "Further rate hikes would risk sending the economy into a hard landing," said Thomas Simons, U.S. economist at Jefferies. "Instead, the Fed can look to a strategy of maintaining current policy rates for a long time as the best way to administer restrictive monetary policy to the economy." ET, Dow e-minis were up 31 points, or 0.09%, S&P 500 e-minis were up 5.25 points, or 0.12%, and Nasdaq 100 e-minis were up 23 points, or 0.15%. Asset management firm Blackstone Inc (BX.N) and vacation rentals platform Airbnb (ABNB.O), which are set to join the S&P 500 before the bell on Monday, were down 0.5% and 0.1%, respectively.

Persons: Brendan McDermid, Blackstone, Thomas Simons, Goldman Sachs, Janus Henderson, Wells, Ankika Biswas, Shristi, Savio D'Souza, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Micron, Deutsche Bank, Airbnb, Dow, Nasdaq, Federal Reserve, Traders, Jefferies, Morgan Asset Management, Janus Henderson Investors, Bank of England, Bank of, Dow e, Micron Technology, Blackstone Inc, L3Harris Technologies, Thomson Locations: New York City, U.S, Bank of Japan, Bengaluru

☆ Morning Bid: Dot plots, oil blots and auto strikes
▼ + stars: | 2023-09-18 | by ( ) www.reuters.com time to read: +4 min

A nighttime view of Marathon Petroleum's Los Angeles Refinery, which processes domestic & imported crude oil into gasoline, diesel fuel, and other refined petroleum products, in Carson, California, U.S., March 11, 2022. But updated quarterly economic and rate projections from its individual policymakers will map out the remainder of the year and 2024. And just like global markets have been discombobulated this month, the central bank will be grappling with low visibility and a plethora of mixed signals. Chief among the irritants for the central banks has been the rebound in crude oil price and the fading annual base effects that have flattered headline disinflation progress this year. Events to watch for on Monday:* U.S. September NAHB Housing Market Survey, July TIC data on foreign holdings of U.S. Treasuries* U.S. Treasury auctions 3- and 6-month bills* European Central Bank Board Member Fabio Panetta speaksReuters Graphics Reuters GraphicsReuters GraphicsReuters GraphicsReuters GraphicsReuters Graphics Reuters GraphicsBy Mike Dolan, editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

Persons: Bing Guan, Mike Dolan Gatecrashed, That's, Detroit's, Taiwan's, TW, chipmaker, Member Fabio Panetta, Mike Dolan, Bernadette Baum Organizations: Petroleum's, Angeles Refinery, REUTERS, U.S . Federal, Bank of England, Bank of Japan, University of Michigan's, automakers, United Auto Workers, General Motors, Ford, chipmakers, China, HK, Survey, Treasury, Central Bank, Member, Reuters Graphics Reuters, Reuters, Thomson Locations: Angeles, Carson , California, U.S, Saudi, China

☆ Wall Street tumbles, Treasury yields gain as focus turns to Fed
▼ + stars: | 2023-09-16 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

The S&P 500 and the Nasdaq reversed their weekly advances, while the blue-chip Dow ended the week nominally higher. European stocks closed higher, extending a rally sparked by the European Bank signaling an end to its rate-hiking cycle, and logging a weekly gain. The pan-European STOXX 600 index (.STOXX) rose 0.23% and MSCI's gauge of stocks across the globe (.MIWD00000PUS) shed 0.63%. Emerging market stocks rose 0.33%. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) closed 0.58% higher, while Japan's Nikkei (.N225) rose 1.10%.

Persons: Brendan McDermid, Dow, TW, Chuck Carlson, Robert Pavlik, Sterling, Brent, Stephen Culp, Naomi Rovnick, Kevin Buckland, Nick Zieminski, Diane Craft, Deepa Babington Organizations: New York Stock Exchange, REUTERS, Treasury, Nasdaq, Semiconductor, SOX, Reuters, University of Michigan, Federal Reserve, Horizon Investment, Financial, Dakota Wealth, Dow Jones, Bank, Japan's Nikkei, Thomson Locations: New York City, U.S, Philadelphia, Hammond , Indiana, Fairfield , Connecticut, Asia, Pacific, Japan, London, Tokyo

REUTERS/Brendan McDermid Acquire Licensing RightsReuters Graphics Reuters GraphicsThe S&P 500 dropped 1.22% to end at 4,450.32 points. All 11 S&P 500 sector indexes declined, led lower by information technology (.SPLRCT), down 1.95%, followed by a 1.88% loss in consumer discretionary (.SPLRCD). For the week, the S&P 500 fell 0.16% and the Nasdaq lost 0.39%. Declining stocks outnumbered rising ones within the S&P 500 (.AD.SPX) by a 4.4-to-one ratio. The S&P 500 posted seven new highs and eight new lows; the Nasdaq recorded 48 new highs and 216 new lows.

Persons: chipmakers, Lam, Stoking, Lisa Erickson, Brendan McDermid, Amgen, Japan's, Ankika Biswas, Shristi, Noel Randewich, Vinay Dwivedi, Richard Chang Organizations: Nasdaq, Dow, Lam Research, KLA Corp, Reuters, Nvidia, Devices, Broadcom, Micron Technology, Philadelphia Semiconductor, United Auto Workers ', General Motors, Ford, Chrysler, Federal Reserve, U.S, Bank Wealth Management, Traders, Microsoft, Adobe, New York Stock Exchange, REUTERS, Reuters Graphics Reuters, Dow Jones, SoftBank's Arm Holdings, Neumora Therapeutics, Thomson Locations: U.S, Minneapolis, New York City, Bengaluru, Oakland , California

Arm executives and CEO Rene Haas gather outside Nasdaq Market site, as Softbank's Arm, chip design firm, holds an initial public offering (IPO), in New York, U.S., September 14, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsSept 15 (Reuters) - Shares of SoftBank's Arm Holdings closed a volatile session lower on Friday, a day after a stellar Nasdaq debut that valued the British chip designer at $65 billion. The stock fell 4.5% to end at $60.75, after trading as high as $69 earlier in the session. The Nasdaq (.IXIC) was down 1.6% and the S&P 500 (.SPX) fell 1.2%, while an index of semiconductors (.SOX) sank 3%. Analysts said further trading volatility in Arm may be seen if the company draws more interest from AI-focused retail investors.

Persons: Rene Haas, Brendan McDermid, chipmakers, Arm's, Randy Frederick, Charles Schwab, Rick Meckler, Sophie Lund, Yates, Hargreaves Lansdown, Financials, Michael Ashley Schulman, Needham, Manya Saini, Caroline Valetkevitch, Saqib Iqbal Ahmed, Niket Nishant, Arun Koyyur, Grant McCool Organizations: Nasdaq, REUTERS, Arm Holdings, Major U.S, Cherry Lane Investments, Analysts, Graphics Arm, Running, Capital Advisors, Nvidia, Reuters Graphics, Thomson Locations: New York, U.S, British, Austin , Texas, New Vernon , New Jersey, Bengaluru

☆ Stocks making the biggest moves midday: General Motors, Stellantis, Planet Fitness, Adobe and more
▼ + stars: | 2023-09-15 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Nucor — The steelmaker fell 6.1% after offering worse-than-expected guidance for third-quarter earnings, with the company pointing to pricing and volume challenges. Core & Main — The infrastructure stock retreated 4.1% a day after it announced a secondary stock offering. The bank said Apellis has a favorable risk/reward ahead of third-quarter earnings. The Wall Street firm said the resumption of loan repayments introduce bookings risk to food delivery. The Wall Street firm said its pessimistic outlook was changing despite recent underperformance in the reinsurance space.

Persons: Stellantis, Chris Rondeau, Rondeau, Craig Benson, Nucor, Raymond James, Needham, Charles Shi, Lam, Goldman Sachs, Apellis, MoffettNathanson, Estée Lauder, Goldman, Yun Li, Jesse Pound, Samantha Subin, Pia Singh, Brian Evans, Lisa Kailai Han Organizations: UAW, General Motors Wentzville, General Motors, Ford, United Auto Workers began, Workers, CNBC, LSEG, PTC Therapeutics, Medicines Agency's, Medicinal Products, Arm, Investment, Bloomberg News, Apple, Dexcom, ASML Holding, Lam Research, Taiwan Semiconductor, Adobe, Bank of America, JPMorgan, Apellis Pharmaceuticals, Waste Systems Locations: Wentzville , Missouri, New Hampshire, Wells, underperform

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 11, 2023. Chipmakers including Nvidia (NVDA.O), Micron Technology (MU.O) and Advanced Micro Devices (AMD.O) added between 0.7% and 1.2% before the bell. Citigroup also expects the Fed to hike interest rates by 25-basis points in November, compared with its previous forecast of a September hike. ET for further clues on the trajectory for U.S. interest rates ahead of the Federal Reserve's policy meeting next week. Meanwhile, investors largely expect another European Central Bank rate hike later in the day, which will take interest rates to a record high, amid sticky inflation and a deteriorating economy.

Persons: Brendan McDermid, Emin Hajiyev, Warren Buffett's Berkshire Hathaway, Ankika Biswas, Shristi, Saumyadeb Chakrabarty, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Vital Energy, Dow, Nasdaq, Wall, Arm Holdings, Nvidia, Micron Technology, Devices, Insight Investment, Tool, Citigroup, Apple, Google, Microsoft, Treasury, Central Bank, Dow e, HP, Visa, Thomson Locations: New York City, U.S, Bengaluru

Arm, the chip design firm that supplies core technology to companies including Apple and Nvidia , priced its initial public offering at $51 a share. Arm's fully diluted market cap, which includes outstanding restricted stock units, is over $54 billion at the $51 offer price. Arm's valuation for a chip company is exceedingly rich when compared to any player in the market other than Nvidia. At $54 billion, Arm would carry a price-to-earnings multiple of about 104, based on profit in the latest fiscal year. Correction: A prior version of this story had the incorrect IPO priceWATCH: Arm reportedly prices IPO at $52 per share

Organizations: Apple, Nvidia, Nasdaq, Semiconductor, U.S, Google, Samsung, AMD, Intel, Taiwan Semiconductor Manufacturing Company

☆ GlobalFoundries opens $4 billion Singapore fabrication plant
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +1 min

A screen displays the company logo for semiconductor and chipmaker GlobalFoundries Inc. during the company's IPO at the Nasdaq MarketSite in Times Square in New York City, U.S., October 28, 2021. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsSINGAPORE Sept 12 (Reuters) - GlobalFoundries (GFS.O), one of the world's top five largest contract chipmakers, launched a $4 billion fabrication plant in Singapore on Tuesday, as part of a major global manufacturing expansion. Its Singapore operations, which serve 200 clients worldwide, produce 300mm wafers and 200mm wafers, which are used in cars and 5G technology. Some of GlobalFoundries' biggest clients include Qualcomm , which said on Monday it had signed a deal with Apple to supply 5G chips until at least 2026. The city-state's overall semiconductor output, which makes up 11% of the global semiconductor market, is set to grow, as more chipmakers are set to either open or expand operations in the coming months.

Persons: Brendan McDermid, GlobalFoundries, Fanny Potkin, Richard Chang Organizations: Nasdaq, REUTERS, Qualcomm, Apple, Thomson Locations: New York City, U.S, Singapore

☆ What China’s new smartphone means for Wall Street
▼ + stars: | 2023-09-11 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

Huawei’s feat could mean that Chinese technology has been progressing much faster than previously thought. Before the Bell spoke to Zino about what’s happening and what it means for Wall Street. Huawei’s new smartphone uses an internally developed, very powerful chip that’s manufactured by the Semiconductor Manufacturing International Corporation (SMIC), a partially state-owned Chinese semiconductor foundry. In the long term, this is probably a good thing for the leading semiconductor companies like Nvidia (NVDA) and Qualcomm (QCOM). Furniture companies are in a rutPeople aren’t buying furniture like they used to, reports my colleague Samantha Delouya.

Persons: there’s, Mike Gallagher, Michael McCaul, Angelo Zino, Bell, There’s, they’ve, They’ve, it’s, Anna Cooban, Samantha Delouya, Hooker, “, ” Williams, Laura Alber Organizations: CNN Business, Bell, New York CNN —, Huawei, House, Skyworks, Materials, Semiconductor Manufacturing International Corporation, Nvidia, Qualcomm, Intel, Federal Reserve, West Elm Locations: New York, China, Taiwan, Korea, United States, Asia, Saudi Arabia, Europe, Virginia, Wayfair, Williams, Sonoma

The second person familiar with the plans confirmed the presence of several large U.S. chips companies, including Amkor, their Vietnamese partners, such as tech company FPT (FPT.HM), and Vietnamese and U.S. top officials, including Secretary of State Antony Blinken. Chip designing firm Marvell has said it plans to build a "world-class" centre in Vietnam. Vingroup (VIC.HM), Vietnam's largest conglomerate and the parent of Nasdaq-listed electric car maker VinFast , has a unit focussed on AI. Boeing may announce a deal involving the sale of 50 of its 737 MAX jets, people familiar with the matter told Reuters. Reporting by Francesco Guarascio @fraguarascio; additional reporting by Fanny Potkin; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.

Persons: Joe Biden, Leah Millis, Antony Blinken, Janet Yellen, Marvell, Francesco Guarascio @fraguarascio, Fanny Potkin, William Mallard Organizations: Warehouse Union, Pacific Maritime Association, White, REUTERS, Rights, Intel, Google, Marvell, Boeing, Reuters, Sunday, Samsung, Qualcomm, Nasdaq, Thomson Locations: Washington , U.S, Rights HANOI, U.S, Hanoi, Vietnam, China, Taiwan

Reliance, whose interest in making semiconductors has not been previously reported, did not respond to repeated requests for comment. India's IT ministry and Prime Minister Narendra Modi's office also did not respond to requests for comment. The country does not as yet have any chip manufacturing plants, although India's Vedanta (VDAN.NS) and Taiwan's Foxconn (2317.TW) are both looking at building facilities. India's government has forecast the domestic chip market will be worth $80 billion by 2028 compared with $23 billion currently. But chip manufacturing is an industry that has historically been beset with boom and bust cycles and requires much expertise.

Persons: Amit Dave, Mukesh, Narendra Modi's, Modi, Vedanta, Taiwan's Foxconn, Arun Mampazhy, –, Foxconn, Munsif Vengattil, Aditya Kalra, Edwina Gibbs Organizations: Reliance Industries, Gujarat Global Trade, REUTERS, Reliance, Google, U.S, Vedanta, Ventures, Semiconductor, Intel, Orbit Ventures, Thomson Locations: Gujarat, Gandhinagar, India, DELHI, Abu Dhabi

Hong Kong/Seoul CNN —SK Hynix, a South Korean chipmaker, is investigating how two of its memory chips mysteriously ended up inside the Mate 60 Pro, a controversial smartphone launched by Huawei last week. “The significance of the development is that there are restrictions on what SK Hynix can ship to China,” G Dan Hutcheson, vice chair of TechInsights, told CNN. The big question is whether any laws were violated.”A Hynix spokesperson told CNN Friday that it was aware of its chips being used in the Huawei phone and had started investigating the issue. “SK Hynix is strictly abiding by the US government’s export restrictions,” the company said. Industry insiders said it was possible that Huawei had purchased the memory chips from the secondary market and not directly from the manufacturer.

Persons: ” G Dan Hutcheson, It’s, TechInsights, Mike Gallagher, Michael McCaul Organizations: Seoul CNN — SK Hynix, Huawei, SK Hynix, CNN, “ SK Hynix, US, Industry, 5G Kirin, chipmaker Semiconductor Manufacturing International Corporation, White Locations: Hong Kong, Seoul, Korean, Hynix, Canada, China, United States, Shenzhen

☆ Investigation launches into China's 5G chip in new Huwaei Mate 60 Pro phone
▼ + stars: | 2023-09-06 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +3 min

CNN —The United States government is seeking more information about the Huawei Mate 60 Pro, a Chinese smartphone powered by an advanced chip. The government cited perceived national security concerns, such as the potential for cyberattacks or spying from the Chinese governement. The inclusion of a custom-built 5G chip would be a major benchmark for Huawei as it grapples with the impact of the US restrictions on its device business. But he said the launch also raises questions around how Huawei managed to launch the phone when it has spent the past four years under US restrictions banning access to 5G technology. “While access to 5G for the chipset is one thing, I’m not sure how the company managed to source all the other components that need to go into a 5G smartphone, such as power amps, switches and filters,” he said.

Persons: Jake Sullivan, “, ” David McQueen, TechInsights, Sullivan Organizations: CNN, United, Huawei, Kirin, US National, House, ABI Research, China’s Semiconductor Manufacturing International Corporation Locations: United States, Chinese, China

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