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☆ Meet a millennial mom who resurrected her career with a 10-day crash course on semiconductors. She landed a new job, learned new skills, and says the pay outweighs long hours.
▼ + stars: | 2023-08-06 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +10 min

She enrolled in a 10-day semiconductor training course and landed a new job at Intel soon after. A few weeks later, she told Insider, she received an email about the "Quick Start" program — a 10-day crash course on how to be a semiconductor processing technician. The Quick Start program's website says that semiconductor companies will hire over 20,000 workers in Arizona in the coming years. Of 240 former Quick Start students who filled out an employment outcome form as of June 30th, 75, or 31%, said they had been "hired in field," per MCCC. "I start work at 5:45 AM, and I get off at 6:15 PM," she said.

Persons: Lisa Strothers, chipmakers, Strothers, Biden, Cesar Becerra, GlobalFoundries, —, Lisa Strothers Lisa Strothers, Intel's, she'd, Cesar Becerra Cesar Becerra, I'm, that's, there's Organizations: Intel, Schools, Service, Taiwan Semiconductor Manufacturing Company, Mesa Community College, Science, Deloitte, Micron, MCCC, Labor Statistics Locations: Wall, Silicon, Arizona, Arizona's Maricopa County, Maricopa County, China, Taiwan, Phoenix

Taiwan Semiconductor Manufacturing Company, which is manufacturing the world’s most advanced microchips, conducts business on the island of Taiwan, dead center in one of the most geopolitically volatile places on the planet. That makes people in Washington very nervous. TSMC dominates the semiconductor industry; it’s a company that the United States can’t do without, 80 miles off the coast of China. The U.S. government has appropriated tens of billions of dollars to strengthen America’s own semiconductor sector and help fund TSMC’s nascent operations in the United States, far from China, which has never renounced the use of force to absorb Taiwan. But TSMC has invested billions of its own over nearly four decades growing deep roots in Taiwan.

Persons: TSMC Organizations: Taiwan Semiconductor Manufacturing Company Locations: Taiwan, Washington, United States, China, The U.S

☆ 'It's a little frightening': Worldcoin surged 111% on its opening day. 2 experts explain why they would never scan their eyes in exchange for the crypto, and why they think the hype will fade.
▼ + stars: | 2023-08-01 | by ( Laila Maidan | ) www.businessinsider.com time to read: +6 min

On opening day, the WLD token surged from $1.70 to $3.58, up by about 110.6%, according to CoinMarketCap data compiled by Bloomberg. Isaac Patka, a former electrical engineer in the semiconductor industry turned crypto developer in 2017, believes the hype will soon fade. People could be exploited by signing up to get their irises scanned and then sell their accounts for a little bit of money in exchange for giving up their identity, Patka added. Now, what I mean by that is, if you're using a blockchain, it gets written to the blockchain," Arone said. You also run the risk of changes to the system, Arone added.

Persons: Isaac Patka, Geoffrey Arone, Sam Altman, aren't, it's, Patka, Worldcoin, Shield3, Arone, there's Organizations: Bloomberg, Arrington Capital, Experian, Clear

☆ Republicans struggle to diverge from Bidenomics
▼ + stars: | 2023-08-01 | by ( Ben Winck | ) www.reuters.com time to read: +4 min

Florida Governor and Republican U.S. presidential candidate Ron DeSantis attends a barbecue hosted by former diplomat Scott Brown, as part of his "No B.S. WASHINGTON, Aug 1 (Reuters Breakingviews) - Republicans with ambitions to move into the White House have a love-hate relationship with Bidenomics. A continued push for true “energy independence” probably would look more like Biden’s strategy than anything else. The agenda includes 10 core tenets, including greater independence from China, energy independence and promoting domestic investment. He called for “aggressive new restrictions” on Chinese ownership of U.S. infrastructure in a Jan. 18 campaign video and emphasized domestic energy independence in a Feb. 9 video.

Persons: Ron DeSantis, Scott Brown, Bidenomics, Donald Trump, Joe Biden’s, DeSantis, “, Biden, Trump, ”, Jeffrey Goldfarb, Sharon Lam Organizations: Republican U.S, Reuters, Economic, Federal Reserve, Trump, Energy Information Administration, “, Florida, Former U.S, Thomson Locations: Florida, Rye , New Hampshire, U.S, WASHINGTON, ”, Ukraine, Beijing, China, Bidenomics, New Hampshire

☆ BlackRock, MSCI draw scrutiny from US House Committee on China
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Carlo Allegri/File Photo License this content on Reuters ConnectAug 1 (Reuters) - A U.S. congressional committee on China said asset management giant BlackRock (BLK.N) and index provider MSCI (MSCI.N) were facilitating investments into blacklisted Chinese companies. The firms have facilitated American capital flow into the companies the U.S. government had found guilty of fueling China's military advancement or human rights abuses, the House of Representatives' Select Committee on the Chinese Communist Party (CCP) said on Monday. "With all investments in China and markets around the world, BlackRock complies with all applicable U.S. government laws. We will continue engaging with the Select Committee directly on the issues raised," BlackRock said. Republicans formed the Select Committee when they took control of the House in January, as part of an effort to convince Americans why they should care about competing with China.

Persons: Carlo Allegri, BlackRock, MSCI, Mike Gallagher, Niket Nishant, Jaiveer Singh Shekhawat, Michael Martina, Don Durfee, Krishna Chandra Eluri, Shinjini Ganguli, Jonathan Oatis Organizations: REUTERS, Reuters, U.S, Chinese Communist Party, CCP, BlackRock, Republicans, China, Congress, Republican, Wall Street, Thomson Locations: BlackRock, Manhattan, New York City , New York, U.S, China, Taiwan, Ukraine

☆ BlackRock, MSCI face probe for allegedly facilitating China investments - WSJ
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +1 min

[1/2] The BlackRock logo is pictured outside their headquarters in the Manhattan borough of New York City, New York, U.S., May 25, 2021. REUTERS/Carlo Allegri/File PhotoAug 1 (Reuters) - Asset manager BlackRock (BLK.N) and index provider MSCI are being investigated by a congressional committee for allegedly facilitating China investments, Wall Street Journal reported on Tuesday, citing letters to the companies from the panel. BlackRock, MSCI and the Committee did not immediately respond to Reuters requests for comment outside normal business hours. Last month, China curbed exports of some metals widely used in the semiconductor industry, in a move it said was aimed at protecting national security. Reporting by Niket Nishant in Bengaluru; Editing by Krishna Chandra Eluri and Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Carlo Allegri, Niket, Krishna Chandra Eluri Organizations: REUTERS, BlackRock, Wall Street, Chinese Communist Party, Thomson Locations: BlackRock, Manhattan, New York City , New York, U.S, China, MSCI, Taiwan, Ukraine, Bengaluru

☆ On Semiconductor forecasts robust Q3 revenue on silicon carbide strength
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +2 min

July 31 (Reuters) - Chipmaker ON Semiconductor Corp (ON.O) on Monday forecast third-quarter revenue above market estimates, on optimism that strong demand from the automotive sector will offset broader weakness in the semiconductor industry. Automotive chipmaker NXP last week forecast a strong third-quarter revenue and profit, exuding confidence over a steady automotive demand. Onsemi, which makes sensors and supplies chips to companies like Volkswagen (VOWG_p.DE), expects revenue between $2.10 billion to $2.20 billion in the third quarter. For the second quarter ended June 30, the company's revenue rose to $2.09 billion, ahead of analysts' expectations of $2.02 billion. The revenue was boosted by Onsemi's power solutions group, which provides power management chips, making up about 53% of total quarterly revenue.

Persons: Onsemi, Hassane El, Khoury, Zaheer Kachwala, Shailesh Organizations: ON Semiconductor Corp, NXP Semiconductors, chipmaker NXP, Volkswagen, Thomson Locations: Arizona, Bengaluru

☆ Japan chip equipment supplier Disco to set up center in India - Nikkei
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: 1 min

Aug 1 (Reuters) - Japan's Disco Corp (6146.T) wants to establish a center in India to support its clients and serve as a base for marketing to the country's semiconductor industry, the Nikkei reported on Tuesday, citing a company executive. The chipmaking device supplier will consider opening an applications laboratory, which performs test cuts and other experimental processing at customer's request, in India, the report said. Plans for the lab will depend on how client companies are progressing in their Indian expansions, the Nikkei said. Reporting by Himanshi Akhand in BengaluruOur Standards: The Thomson Reuters Trust Principles.

Persons: Himanshi Organizations: Nikkei, Thomson Locations: India, Bengaluru

☆ Monolithic Power forecasts weak quarter on semiconductor woes
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +1 min

July 31 (Reuters) - Monolithic Power Systems (MPWR.O) forecast current-quarter revenue slightly below estimates on Monday, signaling weakness in some areas of the semiconductor industry, sending the company's shares down 4% in after-market trading. The maker of circuit-level power solutions sees revenue between $464 million and $484 million for the quarter ending Sept. 30. The midpoint of the range came in below the $473.5 million estimate, according to Refinitiv data. Kirkland, Washington-based Monolithic Power sells power solutions used in cloud computing, and telecom, automotive, industrial applications. Sales to storage and computing customers, the largest end-market for Monolithic Power, grew 1.8% to $124.5 million.

Persons: Yuvraj Malik, Maju Samuel Organizations: Systems, Thomson Locations: Kirkland , Washington, Bengaluru

☆ India produces a lot of talent, says Semiconductor Equipment and Materials International
▼ + stars: | 2023-07-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIndia produces a lot of talent, says Semiconductor Equipment and Materials InternationalAjit Manocha of Semiconductor Equipment and Materials International discusses India's semiconductor industry and its efforts to attract talent.

Persons: Ajit Manocha Organizations: India, Semiconductor, Semiconductor Equipment

REUTERS/Amit DaveGANDHINAGAR, India, July 28 (Reuters) - India wants to become a trusted partner for the semiconductor industry and a chip maker for the world, Prime Minister Narendra Modi said on Friday, as global companies including Foxconn (2317.TW) announced investment plans in the South Asian nation. "To expedite the growth of the semiconductor sector in the country, we are continuously undertaking policy reforms," said Modi, who has made chipmaking the top priority of his economic policy. Modi was speaking at the government's SemiconIndia annual conference in his home state of Gujarat which is being attended by top semiconductor industry executives. Speaking to CNBC-TV18, Liu said Foxconn had yet to find another partner for its India chipmaking venture. At the event, Micron Technology (MU.O) CEO Sanjay Mehrotra said a planned $2.7 billion semiconductor testing and packaging unit in Gujarat would help create about 5,000 jobs in the state.

Persons: Mark Papermaster, Young Liu, India's, Narendra Modi, Amit Dave GANDHINAGAR, TW, Modi, Foxconn, Liu, Modi's, Sanjay Mehrotra, Munsif Vengattil, Sumit Khanna, Indranil Sarkar, Aditya Kalra, Jacqueline Wong, Muralikumar Organizations: Devices, REUTERS, Foxconn, CNBC, TV18, Vedanta, Semiconductor, Reuters, Hai Technology, Micron Technology, Thomson Locations: Gandhinagar, India, Gujarat, Bengaluru, Tamil, Taiwan, Foxconn

☆ US lawmakers urge Biden administration to tighten AI chip export rules
▼ + stars: | 2023-07-28 | by ( Stephen Nellis | ) www.reuters.com time to read: +4 min

The October 2022 rules impose two performance caps on exporting AI chips to China - one on how fast the chips can talk to one another, and the second on the chips' processing speeds. After the rules took effect, Nvidia created special chips for China with lower interconnect speeds. Intel this month also said it has created an AI chip that can be sold in China. Nvidia at the time said that restricting sales of its AI chips to China "would result in a permanent loss of opportunities for the U.S. On Friday, Gallagher and Krishnamoorthi urged an even tighter approach than the one Reuters previously reported officials are considering.

Persons: Mike Gallagher, Biden, Raja Krishnamoorthi, Gina Raimondo, Gallagher, Krishnamoorthi, " Gallagher, Stephen Nellis, Chris Sanders, Leslie Adler Organizations: U.S, Rep, Chinese Communist Party, Capitol, FRANCISCO, Republican, Nvidia, Devices, Intel, Reuters, Qualcomm, Semiconductor Industry Association, Microsoft, Google, Thomson Locations: United States, Taiwan, Washington , U.S, China, U.S, Washington, San Francisco

☆ U.S. lawmakers urge Biden administration to tighten AI chip export rules
▼ + stars: | 2023-07-28 | by ( Stephen Nellis | ) www.reuters.com time to read: +4 min

☆ India woos U.S. chip giants as it looks to become a semiconductor superpower
▼ + stars: | 2023-07-28 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +5 min

Indian Prime Minister Narendra Modi has looked to woo American semiconductor firms to invest in his country. India's chip strategyIndia's chip strategy consists of two major parts. At SemiconIndia, the American chip firms in attendance spoke about their investments in India and announced new ones, highlighting India's focus on attracting foreign companies. Last month, Micron announced plans to set up a semiconductor assembly and testing facility in the state of Gujarat in India. The chip manufacturing tie-up between Vedanta and Foxconn reportedly relied on technology from European semiconductor firm STMicroelectronics.

Persons: Narendra Modi, Anna Moneymaker, Modi, Ajit Manocha, Jefferies, Manocha, …, Mark Papermaster, Sanjay Mehrotra, Ashwini Vaishnaw, Young Liu, Foxconn, hasn't, Liu, Anil Agarwal, Pranay Kotasthane, haven't, Kotasthane Organizations: Indian, Getty Images, U.S, Micron, Cadence, Applied Materials, AMD, SemiconIndia, U.S ., Vedanta, CNBC, TV18, Takshashila Locations: U.S, Taiwan, South Korea, U.S . New Delhi, India, America, SemiconIndia, Bangalore, Gujarat, Vedanta

☆ War with China would be an 'onslaught' like the US hasn't faced in decades
▼ + stars: | 2023-07-27 | by ( Jake Epstein | Jacob Zinkula | ) www.businessinsider.com time to read: +15 min

War would also have severe consequences for China and US allies in the Western Pacific. Any war with China would be fought on multiple fronts — from the air and sea to the web and financial markets. The US maintained this capacity for decades, but America's manufacturing prowess has atrophied since the end of the Cold War. Control of the Pacific would be a crucial part of any war with China, and Beijing boasts the world's largest navy. Cash warsWhile a military conflict between the US and China is only a hypothetical, the two countries are already competing on the economic battlefield.

Persons: Joe Biden, Mark Milley, Dan Blumenthal, it's, Blumenthal, Ujian, didn't, Glenn O'Donnell, Forrester, stymie, Ann Wang, William Alan Reinsch, Reinsch, Russia —, Scott Kennedy, Kennedy, aren't, Ramping, Jake Epstein, Jacob Zinkula Organizations: US, Joint Chiefs of Staff, Armed, US Navy, American Enterprise Institute, US Department of Defense, US Marine Corps, Pentagon, Navigation Plan, Ford, Nimitz, Center for Strategic, International Studies, Beijing, Russia, Columbia University, Marine Locations: China, Western, Beijing, Pacific, Taiwan, South China, America, Nebraska, Pearl, Normandy, Mongolia, Ukraine, Russian, Nanchang, Liaoning, Shandong, Fujian, wean, Washington, United States, Japan, Philippines, Netherlands

Heckmeier said Siltronic was following the tussle between the United States and China for control of the chip industry and their mutual restrictions. Siltronic's product portfolio includes so-called Gallium Nitride-on-Silicon wafers, which enable high switching frequencies and efficient energy management, while working under high power densities. The Munich-based company reported an 8.7% sales decrease for the second quarter, and guided for 2023 sales to fall 14%-19% from last year's 1.81 billion euros. It now plans to invest 1.3 billion euros this year after previously guiding for investments slightly above last year's 1.07 billion. The new factory is expected to contribute to profit by 2025 the latest.

Persons: Michael Heckmeier, Heckmeier, Siltronic, Ozan Ergenay, Paolo Laudani, Kirsti Knolle, Jane Merriman Organizations: Thomson Locations: Singapore, Frankfurt, United States, China, Beijing, Munich, Gdansk

☆ US commerce chief says China export controls will hit companies' revenue
▼ + stars: | 2023-07-27 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

REUTERS/Florence Lo/IllustrationWASHINGTON, July 26 (Reuters) - Commerce Secretary Gina Raimondo said on Wednesday the Biden administration is seeking to carefully target U.S. controls on exports to China, but rules will cost firms some revenue. Restrictions should not be so broad "that you deny American companies revenue and China can get the product elsewhere, or China can get the product from other countries," Raimondo said at a forum. Rules "will deny some revenue to American companies, but we think it's worth it." Raimondo said the administration is meeting with companies "to get to the right place so we don't damage American business but quite frankly protect American national security." The Biden administration is considering updating a sweeping set of rules imposed in October to hobble China's chip industry and a new executive order restricting some outbound investment.

Persons: Florence Lo, Gina Raimondo, Biden, Raimondo, hobble, we're, Antony Blinken, Lael Brainard, Jake Sullivan, David Shepardson, Leslie Adler Organizations: REUTERS, WASHINGTON, Biden, Semiconductor Industry Association, Nvidia, Qualcomm, Intel, Huawei, National Economic, National Security, Thomson Locations: of China, U.S, China, American, United States

☆ Taiwan chipmaker UMC sees 'uncertain' demand, gearing up for AI
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +2 min

SummaryCompanies Wafer demand 'uncertain' in Q3UMC says gearing up to meet AI demandQ2 revenue -21.9% y/y, +3.8% q/q2023 capex guidance unchanged at $3 blnTAIPEI, July 26 (Reuters) - Taiwanese chipmaker United Microelectronics Corp (UMC) said on Wednesday that it sees "uncertain" demand in the third quarter but stuck to its 2023 capital spending plans as its gears up to meet customer demand for artificial intelligence (AI). The semiconductor industry has come under pressure as global economic woes dent demand for chips used in everything from cars to cellphones. "Looking into the third quarter, wafer demand outlook is uncertain given prolonged inventory correction in the supply chain," he added. However, the company kept its guidance for capital spending this year at $3 billion, compared with $2.7 billion for last year. "We are gearing up to offer the necessary silicon interposer technology and capacity to fulfil emerging AI market demand from customers," Wang said.

Persons: TSMC, Jason Wang, Wang, UMC, Ben Blanchard, Christina Fincher Organizations: United Microelectronics Corp, chipmaker, Qualcomm Inc, Germany's Infineon, UMC's, Thomson Locations: TAIPEI, U.S, UMC's Taipei, Taiwan

☆ Taiwan TSMC: Plans to invest $2.9 billion in new plant as demand for AI chips soars
▼ + stars: | 2023-07-25 | by ( Juliana Liu | ) edition.cnn.com time to read: +1 min

Hong Kong CNN —TSMC, the world’s largest chipmaker, says it plans to invest nearly 90 billion New Taiwan dollars ($2.9 billion) to build an advanced chip plant in Taiwan, as it expands production to meet booming demand for artificial intelligence (AI) products. Wei told analysts the company plans to roughly double its capacity for advanced packaging capacity in 2024 compared to 2023, in order to meet “strong demand” for AI chips from its customers, which include Nvidia (NVDA) and AMD (DOX). Advanced packaging in the semiconductor industry involves using high-tech methods to aggregate components from various wafers in order to create a more powerful computer chip. That’s the kind of AI underlying ChatGPT, Google (GOOGL)’s Bard, Dall-E and many of the other new AI technologies. TSMC is considered a national treasure in Taiwan, supplying semiconductors to global tech giants including Apple (AAPL) and Qualcomm (QCOM).

Persons: Hong Kong CNN — TSMC, C.C, Wei, “, TSMC, Dall Organizations: Hong Kong CNN, Nvidia, AMD, CNN, TSMC, Google, Apple, Qualcomm Locations: Hong Kong, Taiwan, Miaoli County, Hsinchu, Taipei, TSMC

☆ U.S. will be short 67,000 chip workers by 2030, industry group says
▼ + stars: | 2023-07-25 | by ( Max A. Cherney | ) www.reuters.com time to read: +2 min

July 25 (Reuters) - The U.S. semiconductor industry faces a shortfall of roughly 67,000 workers by 2030, according to an industry association study published on Tuesday. The chip industry's workforce is projected to grow to 460,000 by the end of the decade, up from roughly 345,000 this year. The law also created a 25% investment tax credit for building new chip factories, or fabs, that is worth $24 billion. Roughly half of the future chip industry jobs will be engineers. The shortage of skilled chip workers is part of a larger shortfall of science, technology, engineering and math graduates in the U.S., according to the report.

Persons: John Neuffer, Max A, Christian Schmollinger Organizations: Semiconductor Industry Association, SIA, Oxford Economics, Commerce Department, Intel Corp, Taiwan Semiconductor Manufacturing Co, Samsung Electronics Co, Thomson Locations: U.S, KS, San Francisco

[1/2] The logo of Osaka Organic Chemical Industry Ltd. is pictured in Tokyo, Japan July 25 2023. REUTERS/Sam NusseyTOKYO, July 26 (Reuters) - Osaka Organic Chemical Industry (4187.T), a Japanese manufacturer of high-end chemicals used in chip production, is betting on the materials market for extreme ultraviolet (EUV) lithography, a method for making advanced chips. Little known even in its home country, Osaka Organic has carved out a critical niche in the semiconductor industry by supplying companies that make photoresists, the light-sensitive chemicals used to etch patterns on wafers. "I am confident that we can compete," Masayuki Ando, Osaka Organic's president, told Reuters in an interview, referring to the EUV resist market. In many ways, Osaka Organic is emblematic of Japan's chip-making industry today.

Persons: Sam Nussey, Masayuki Ando, Osaka, Ando, Yuta Nishiyama, Miho Uranaka, David Dolan, Miral Organizations: Osaka Organic Chemical Industry Ltd, REUTERS, Osaka Organic Chemical Industry, Reuters, Citigroup, Thomson Locations: Osaka, Tokyo, Japan, Sam Nussey TOKYO, photoresists, South

☆ Germany earmarks 20 billion euros for chip industry in coming years
▼ + stars: | 2023-07-25 | by ( ) www.reuters.com time to read: +1 min

BERLIN, July 25 (Reuters) - Germany plans to invest around 20 billion euros ($22.15 billion) in the semiconductor industry in the coming years, the economy ministry said on Tuesday, amid growing alarm over supply chain fragility and dependence on South Korea and Taiwan for chips. The money will be drawn from the Climate and Transformation Fund from 2024 onwards, the ministry said, adding that it could only give funding for individual projects after European Commission approval. It said Taiwanese semiconductor manufacturer TSMC (2330.TW) expressed interest in investing in a semiconductor production facility in Germany and that the ministry was in close contact with the company over an investment decision. Last month, Berlin agreed subsidies worth nearly 10 billion euros with the U.S. chipmaker Intel to build two facilities in the eastern city of Magdeburg. ($1 = 0.9029 euros)Reporting by Riham Alkousaa, Editing by Friederike HeineOur Standards: The Thomson Reuters Trust Principles.

Persons: TW, Riham Alkousaa, Friederike Heine Our Organizations: Transformation, U.S, Intel, Thomson Locations: BERLIN, Germany, South Korea, Taiwan, Berlin, Magdeburg

July 25 (Reuters) - Dutch semiconductor equipment maker ASM International (ASMI) (ASMI.AS) said on Tuesday new orders almost halved in the second quarter due to softening demand and delays at some customers' manufacturing facilities. The company, which supplies wafer processing equipment to semiconductor makers, said new orders fell to 485.8 million euros ($536.2 million) from 942.7 million euros in the same period a year earlier. It also reported second-quarter net earnings of 151.2 million euros, down from 160.4 million a year ago. The company forecast third-quarter revenue of 580-620 million euros on a currency-comparable level, down from 675.5 million euros a year earlier. ($1 = 0.9060 euros)Reporting by Pierre John Felcenloben and Laura Lenkiewicz; Editing by Susan Fenton and Mark PotterOur Standards: The Thomson Reuters Trust Principles.

Persons: ASMI, Pierre John Felcenloben, Laura Lenkiewicz, Susan Fenton, Mark Potter Organizations: ASM, Thomson Locations: China, United States

☆ NXP forecasts third quarter above estimates on steady automotive demand
▼ + stars: | 2023-07-24 | by ( ) www.reuters.com time to read: +2 min

Growing electrification of cars and the use of advanced driver-assistance systems have kept demand for automotive chips steady, helping NXP, which made over half of its revenue from that sector last year. Revenue in those segments rose in the second quarter on a sequential basis. On an adjusted basis, the company forecast current-quarter revenue in the range of $3.30 billion to $3.50 billion, compared to analysts’ estimates of $3.31 billion, per Refinitiv data. Revenue in the quarter ended July 2 was $3.30 billion, compared to estimates of $3.21 billion. Excluding items, NXP earned $3.43 per share, beating estimates of $3.29.

Persons: ”, Kurt Sievers, NXP, Chavi Mehta, Pooja Desai Organizations: Wall, Nasdaq, Revenue, Thomson Locations: Eindhoven, Netherlands, United States, China, Bengaluru

☆ Apple supplier Foxconn's failed India chip venture shows how tough it is for new players
▼ + stars: | 2023-07-24 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +4 min

In this article 2317-TW Follow your favorite stocks CREATE FREE ACCOUNTThis month, Foxconn pulled out of its joint venture with Vedanta. In May 2021, it formed a joint venture with Yageo Corporation, which makes various types of electronic components. Foxconn looked to India for its joint venture with Vedanta because the country's government is looking to boost its domestic semiconductor industry and bring manufacturing on shore. This month, Foxconn pulled out of its joint venture with Vedanta. Foxconn and Vedanta wanted to license the technology from STMicro and India wanted the firm to have a stake in the joint venture, but the European chipmaker did not, Reuters reported.

Persons: Foxconn, Gabriel Perez, Neil Shah, Shah, BMI's Perez, Vedanta Organizations: Vedanta, Getty, BMI, Fitch Group, CNBC, Samsung, Micron, Hai Technology, Yageo Corporation, Counterpoint Research, Reuters Locations: India, EU, Mainland China, STMicro

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