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☆ Chinese auto chipmaker raises over $1.8 billion as Beijing prepares new chip fund
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +1 min

BEIJING, Sept 6 (Reuters) - Chinese auto chipmaker GTA Semiconductor recently completed a largely state-funded financing round worth over $1.8 billion, state-backed Securities Times reported on Wednesday, with the move described as a clear signal to the domestic chip manufacturing industry that Beijing is still willing to invest in it. With this injection of capital Shanghai-based GTA Semiconductor, one of China's largest auto chipmakers manufacturers by production, has in less than two years racked up over $2.7 billion of mostly state funds, according to the Securities Times. Reuters could not determine whether the auto chipmaker's latest fund-raising was tied to this new fund or not. GTA Semiconductor has been backed by state-owned venture capital firms like Shanghai-based Spinnotec, which first announced the $1.8 billion fund-raising round on Monday, without specifying the entities involved. The large sum GTA Semiconductor raised highlights Beijing's commitment to prop up domestic manufacturers amid an ongoing push to wean off its chipmaking capabilities from foreign dependence, according to the Securities Times.

Persons: Eduardo Baptista, Josie Kao Organizations: Semiconductor, Securities Times, Reuters, GTA Semiconductor, GTA, Thomson Locations: BEIJING, Beijing, Shanghai, China

☆ ASML to ship first pilot tool in its next product line in 2023 -CEO
▼ + stars: | 2023-09-05 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Piroschka van de Wouw/File photo Acquire Licensing RightsAMSTERDAM, Sept 5 (Reuters) - ASML (ASML.AS) will ship the first pilot tool in its next product line this year as planned, the semiconductor equipment maker's CEO Peter Wennink said, despite some supplier hold-ups. Under pressure from the United States, the Dutch government does not grant ASML licences to export EUV tools to Chinese chipmakers. Like in a camera, the High NA, or high numerical aperture tool, will gather light from a wider angle for up to 70% better resolution, although the ASML tool uses a system of mirrors rather than a lens. Separately, Wennink confirmed that ASML will have more sales in dollar terms from its previous generation "DUV" machines than EUV machines in 2023. ASML is forecasting 30% sales growth this year due in part to strong demand from Chinese customers for the older machines.

Persons: de, Peter Wennink, Wennink, Toby Sterling, Alexander Smith Organizations: REUTERS, Rights, NA, Reuters, Intel, Samsung, SK Hynix, Micron, Thomson Locations: Veldhoven, Netherlands, Eindhoven, United States, Arizona, Taiwan

☆ Qualcomm focuses on AI and auto as Nvidia takes over as world’s biggest fabless chip company
▼ + stars: | 2023-09-05 | by ( Katie Tarasov | ) www.cnbc.com time to read: +7 min

Until last month, Qualcomm was also the world's biggest fabless chip company. But Qualcomm CEO Cristiano Amon is betting that one day, generative AI will be in high demand off the cloud, too. Qualcomm modems are inside all iPhone models currently being made, including the next model set to come out next week. Today, Qualcomm has more than 140,000 patents. The other lawsuit came from Apple, which sued Qualcomm for roughly $1 billion for charging royalties for technologies Apple said Qualcomm had "nothing to do with."

Persons: Cristiano Amon, Amon, Chris Patrick, Irwin Jacobs, Jacobs, Nobody, Jay Goldberg, Patrick, it's, Daniel Newman, Newman, It's, Donald Trump, Stacy Rasgon, Qualcomm's Amon, CNBC it's Organizations: Qualcomm, Nvidia, Amazon Web Services, CNBC, Apple, Quality Communications, D2D, Futurum, Federal Trade Commission, Broadcom, Bernstein Research, GM, BMW, Samsung, Taiwan Semiconductor Manufacturing Co, Intel Locations: San Diego, China, Taiwan, Asia, That's, U.S, Arizona

☆ Nvidia isn't the only game in town. Investors advise against overlooking these other AI beneficiaries
▼ + stars: | 2023-09-04 | by ( Samantha Subin | ) www.cnbc.com time to read: +5 min

Nvidia can't stop stunning Wall Street and the investing community in 2023, but portfolio managers say don't let the excitement overshadow other potential AI winners. "Theme after theme, transition after transition, the strong usually gets stronger," said Paul Meeks, portfolio manager at Independent Solutions Wealth Management. Some retail and professional investors seemed to interpret the news as a sign that it's "game over" for some of the other AI chipmakers, Forrest said. Forrest, who's on the hunt for growth at a reasonable price, points to companies like Advanced Micro Devices, Micron Technology . On the AI chip theme, Meeks also points to Broadcom , Marvell Technology and Taiwan Semiconductor , a major supplier for Nvidia, as other ways to play the trend.

Persons: Paul Meeks, there's, Kim Forrest, Forrest, who's, Meeks, chipmaker, Capital Management's JoAnne Feeney, Feeney, it's Organizations: Nvidia, Independent Solutions Wealth Management, Intel, Devices, Broadcom, Marvell Technology, Bokeh Capital Partners, Micron Technology, AMD MU, AMD, MU, Taiwan Semiconductor, Capital, Google

☆ Look beyond the 'Magnificent Seven' tech stocks, analyst says — and names 5 top picks
▼ + stars: | 2023-08-31 | by ( Weizhen Tan | ) www.cnbc.com time to read: +4 min

When it comes to picking stocks, Hannah Gooch-Peters of asset management firm Sanlam Investments UK avoids chasing trends. She said she believes investors need to look beyond the "Magnificent Seven," referring to Apple , Amazon , Alphabet , Meta , Microsoft , Nvidia and Tesla — tech stocks that have made massive gains this year. Sanlam's $5 billion-plus Global High Quality Fund invests in global stocks with a "high quality bias." The companies her firm picks have rather low capital expenditure as a percentage of their sales, she said. It also has a "mortgage-signing technology service which is "really, really exciting," she said.

Persons: Hannah Gooch, Peters, Gooch, We're, it's, you've, That's Organizations: Sanlam Investments, Apple, Microsoft, Nvidia, Tesla, CNBC, Quality Fund, Peters . Services, Yum Brands, KFC, Taco Bell, Intuit, SAP, Intercontinental Exchange, Samsung Electronics

☆ Qualcomm banks on AI to get a bigger share of the automotive chip market
▼ + stars: | 2023-08-31 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

Qualcomm is best known for the chips and modems inside Android phones. But in recent years, it's also started selling a package of hardware chips, sensors and software called Snapdragon Digital Chassis to automakers like GM , Hyundai and Volvo. It reported $1.32 billion in sales in its fiscal 2022, or about 3% of the company’s overall sales. Qualcomm makes between $200 and $3,000 per car that use its chips and software, officials said last fall at an investor event. Qualcomm faces stiff competition from other chipmakers in the car chip business.

Persons: it's Organizations: Qualcomm, GM, Hyundai, Volvo, Apple, Android, Computer, Intel, Nvidia, NXP Semiconductors, Bosch

☆ What higher-for-longer interest rates could mean for tech stocks
▼ + stars: | 2023-08-31 | by ( Krystal Hur | American Airlines Flight Attendants Vote To Authorize A Strike | ) edition.cnn.com time to read: +5 min

CNN —After roaring higher for most of this year, the rally in tech stocks sputtered in August as investors grew increasingly worried about how long the Federal Reserve will keep interest rates high. Strong economic data in recent months has investors betting that the Fed will keep interest rates higher for longer. Higher yields also mean companies will need to pay more interest on their debt in the future, eating into future cash flows. Sustained, lofty yields could particularly pose a problem for tech stocks, which often trade at a premium because of the promise of rapid growth. Any sell-off in tech could reverberate across the broader market, since those stocks are largely responsible for propelling this year’s rally.

Persons: Ivana Delevska, Spear, Bryan Mena, CNN’s Gregory Wallace, Julie Hedrick, “ We’re, Read Organizations: CNN Business, Bell, CNN, Federal Reserve, Treasury, Nvidia, Devices, Marvell Technology, Gross, Commerce, American Airlines, Association of Professional, Airline

☆ Factbox: What are global companies saying about China's economy?
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +1 min

People cross a street near office towers in the Lujiazui financial district in Shanghai, China, February 28, 2023. REUTERS/Aly Song/File Photo Acquire Licensing RightsAug 29 (Reuters) - United States Commerce Secretary Gina Raimondo has said U.S. companies have raised concerns that China has become "uninvestible", pointing to fines, raids and other actions that have made it too risky to do business in the world's second-largest economy. Major global firms ranging from banks to chipmakers are taking a largely cautious stance on their China business amid a frail recovery of the country's economy from a pandemic slowdown. Following are comments from some of the top firms on their China business during the latest reporting season:Compiled by Savyata Mishra, Arunima Kumar, Niket Nishant, Granth Vanaik, Aditya Soni and Bhanvi Satija; Edited by Shinjini Ganguli and Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Aly, Gina Raimondo, Savyata Mishra, Arunima Kumar, Niket Nishant, Granth Vanaik, Aditya Soni, Bhanvi, Shinjini Ganguli, Shounak Organizations: REUTERS, United States, Thomson Locations: Shanghai, China, U.S

☆ In China, Raimondo says US will prioritise national security, does not seek decoupling
▼ + stars: | 2023-08-29 | by ( David Shepardson | ) www.reuters.com time to read: +4 min

Andy Wong/Pool via REUTERS/ Acquire Licensing RightsBEIJING, Aug 29 (Reuters) - The United States will put national security concerns first but does not seek to decouple from China, Commerce Secretary Gina Raimondo told China's Vice Premier He Lifeng at a meeting on Tuesday. "While we will never compromise in protecting our national security, I want to be clear that we will never seek to decouple or hold China's economy back," Raimondo said during opening remarks in Beijing's Great Hall of the People. A confidant of President Xi Jinping, He took up the post of China's economy tsar in March, having earlier run the powerful state planner. Earlier on Tuesday, Raimondo and Tourism Minister Hu Hepin agreed to hold the 14th China-U.S. Tourism Leadership Summit in China in the first half of 2024. Such an exchange offered a platform to reduce misunderstandings of U.S. national security policies, Raimondo said on Monday, but added, "We are not compromising or negotiating on matters of national security.

Persons: Gina Raimondo, Andy Wong, Biden, " Raimondo, Xi Jinping, Liu, Raimondo, Hu Hepin, Walt Disney, Matthew Axelrod, Xie Feng, Wang Wentao, Xie, Wang, David Shepardson, Joe Cash, Clarence Fernandez Organizations: . Commerce, of, People, REUTERS, Rights, Harvard, U.S . Tourism Leadership Summit, Commerce Department, United, Walt, Shendi, Twitter, Intel, Micron, Thomson Locations: Beijing, China, Rights BEIJING, United States, decouple, Beijing's, U.S, Seattle, Shanghai, Washington

☆ US commerce chief meets Chinese premier in Beijing
▼ + stars: | 2023-08-29 | by ( David Shepardson | ) www.reuters.com time to read: +4 min

[1/3] U.S. Commerce Secretary Gina Raimondo and Chinese Vice Premier He Lifeng head to their seats for a meeting at the Great Hall of the People in Beijing, China, Tuesday, August, 29, 2023. Andy Wong/Pool via REUTERS/ Acquire Licensing RightsBEIJING, Aug 29 (Reuters) - U.S. Commerce Secretary Gina Raimondo met China's Premier Li Qiang in Beijing on Tuesday, her second full day of talks with top Chinese leaders on balancing business ties and national security concerns. Earlier on Tuesday, Raimondo told China's economy tsar and her direct counterpart, He Lifeng, that the U.S. does not seek to decouple from its geopolitical rival. A confidant of President Xi Jinping, He took up the post of China's economy tsar in March, having earlier run the powerful state planner. Such an exchange offered a platform to reduce misunderstandings of U.S. national security policies, Raimondo said on Monday, but added, "We are not compromising or negotiating on matters of national security.

Persons: Gina Raimondo, Andy Wong, China's, Li Qiang, Raimondo, Biden, Xi Jinping, Liu, Hu Hepin, Walt Disney, Matthew Axelrod, Xie Feng, Wang Wentao, Xie, Wang, David Shepardson, Joe Cash, Clarence Fernandez Organizations: . Commerce, of, People, REUTERS, Rights, Harvard, U.S . Tourism Leadership Summit, Commerce Department, United, Walt, Shendi, Twitter, Intel, Micron, Thomson Locations: Beijing, China, Rights BEIJING, U.S, Seattle, United States, Shanghai, Washington

☆ Morning Bid: Strikes, system failures and a slowdown
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +3 min

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, August 2, 2023. Workers at Toyota plants in Japan were idle, meanwhile, as a systems malfunction crippling component orders brought output to a standstill for the world's top automaker. That comes on the heels of tech woes at British air control on Monday that disrupted flights. FTSE futures suggest a positive return from a day's holiday in London, while U.S. and European futures were flat. Hong Kong's Hang Seng (.HSI) was up 2% by mid-session and mainland blue chips (.CSI300) were up 1.5%.

Persons: Tom Westbrook, Gina Raimondo, it's, Hewlett Packard, Sam Holmes Organizations: REUTERS, Staff, Workers, Chevron, Toyota, Japan's Nikkei, U.S . Commerce, Tourism Holdings, Reuters, Thomson Locations: Frankfurt, Germany, Australia, Japan, Asia, London, Beijing

Nvidia's stock rose as high as $502.66, topping a record hit earlier this week, The first trillion-dollar chip maker pared some gains and was last up 0.8%% at $474.6. The technology-heavy Nasdaq Composite (.IXIC), buoyed by Nvidia, rose in early trade before falling by 1.36%. Reuters GraphicsMore than 20 brokerages raised their target price on Nvidia after the earnings. The median analyst price target on the stock has nearly doubled to $600 since May when the company forecast a 50% jump in second-quarter revenue. Short sellers of Nvidia's stock have made $826 million in mark-to-market losses on Thursday, data from analytics firm S3 Partners showed.

Persons: Ann Wang, Michael James, James, Elazar, Tom Plumb, Plumb, Matthew Tuttle, Susan Mathew, Chavi Mehta, Medha Singh, Shreyashi Sanyal, Shristi Achar, Amruta, Noel Randewich, Varun H, Shinjini Ganguli, Sharon Singleton, David Gregorio Our Organizations: REUTERS, Nvidia, Philadelphia Semiconductor, Marvell Technology, Devices Inc, Intel, Nasdaq, Wedbush Securities, Reuters, Elazar Advisors, Rosenblatt Securities, Plumb Funds, Partners, Tuttle Capital Management, Thomson Locations: Taipei, Taiwan, Clara , California, Bengaluru, Chibuike, New York, Oakland , California

[1/2] The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, August 23, 2023. U.S. stocks ended sharply higher on Wednesday and shares of Nvidia jumped nearly 10% in trading after the bell, hitting an all-time high. EASING YIELDSGovernment bond yields eased, adding to a sense of relief across markets. Euro zone yields hit multi-week lows with Germany's 10-year yield 1.5 bps lower at 2.50%, having touched a 2-week low of 2.448%. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) closed 1.5% higher, also lifted by Nvidia's bullish outlook.

Persons: Chipmakers, Jerome Powell, Robert Alster, Zhang Zihua, Tom Wilson, Julie Zhu, Toby Chopra, Kirsten Donovan Organizations: REUTERS, Staff, Federal, Asset Management, Nvidia, Beijing Yunyi Asset Management, Thomson Locations: Frankfurt, Germany, Jackson Hole , Wyoming, U.S, Turkish, United States, Asia, Pacific, Japan, China, Beijing, London, Hong Kong

☆ Nvidia earnings scare away AMD, Intel investors as legacy chipmakers lose ground in AI
▼ + stars: | 2023-08-24 | by ( Kif Leswing | ) www.cnbc.com time to read: +4 min

Developers in the world of artificial intelligence can't get enough of Nvidia's processors. "NVDA Data Center revenues are now expected to be more than double INTC+AMD Data Center revenues combined, underscoring the growing importance of accelerators for today's Data Center customers," Deutsche Bank analyst Ross Seymore wrote in a note on Thursday. Nvidia is now expected to post $12 billion in data center sales in the current quarter, according to FactSet data. AMD and Intel are trying to stay relevant in the AI market, but it's a struggle. Like Intel, AMD faces a timing challenge.

Persons: Nvidia's, Ross Seymore, Pat Gelsinger, it's, Raj Joshi, Morgan Stanley, Joseph Moore, Moore Organizations: Nvidia, AMD, Intel, Meta, Microsoft, today's Data Center, Deutsche Bank, Moody's Investors Services, Marvel Locations: French

☆ Nvidia warns more chip curbs will end U.S. chipmakers' ability to compete in China
▼ + stars: | 2023-08-24 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

Nvidia issued a fresh warning that further U.S. export curbs on its chips to China would risk a "permanent loss" for American semiconductor firms to lead in one of the world's largest markets. Several reports earlier this year suggested Washington was considering new export restrictions on artificial intelligence-related chips, the likes of which Nvidia designs. This follows rules introduced last year that restricted Nvidia from selling its top-end A100 and H100 graphics processing units to China. "We believe the current regulation is achieving the intended results. "However, over the long term, restrictions prohibiting the sale of our data center GPUs to China, if implemented, will result in a permanent loss of an opportunity for the U.S. industry to compete and lead in one of the world's largest markets."

Persons: Washington, Colette Kress Organizations: Nvidia, U.S Locations: China

☆ Nasdaq futures rally as Nvidia's blowout forecast boosts AI stocks
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +3 min

The logo of technology company Nvidia is seen at its headquarters in Santa Clara, California February 11, 2015. Nasdaq 100 e-minis were up 172 points, or 1.13% and S&P 500 e-minis were up 21.75 points, or 0.49% at 5:28 a.m. "It is clear...that AI demand is still outstripping supply," Mark Haefele, chief investment officer at UBS Global Wealth Management, said in a note. "Within the tech sector, we think software and internet stocks are best positioned to ride the next wave of the technology cycle and the broadening of AI demand." Splunk Inc (SPLK.O) gained 13.9% after the data analytics software maker forecast third-quarter revenue above market estimates on expectations of AI-related spending.

Persons: Robert Galbraith, Mark Haefele, Jerome Powell, Amruta Khandekar, Shreyashi Sanyal, Savio D'Souza, Shinjini Organizations: Nvidia, REUTERS, Dow, Nasdaq, UBS Global Wealth Management, Microsoft, Palantir Technologies, Micro Devices, Marvell Technology, Semiconductor, Europe's ASM, BE Semiconductor, ASML, Investors, Federal Reserve, U.S, Treasury, Boeing, Splunk Inc, Thomson Locations: Santa Clara , California, United States, Jackson, U.S, Bengaluru

☆ Volkswagen strikes direct supply deals for chips to avoid global shortage
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: +2 min

[1/2] Volkswagen's factory is seen in Sao Bernardo do Campo, Sao Paulo state, Brazil June 28, 2023. Demand for chips has risen dramatically in the car industry in line with electric vehicle production and the need for increasingly complex software. Volkswagen and Franco-Italian chipmaker STMicroelectronics (STMPA.PA) announced plans last July to co-develop a new semiconductor, marking VW's first direct relationship with a second- and third-rank semiconductor supplier. Volkswagen has not struck a direct supply relationship with TSMC - the world's biggest contract manufacturer of semiconductors - but meets with them every few weeks to communicate its demand situation, Schnake said. The carmaker also plans to reduce the variety of chips required in its vehicles to simplify the supply chain, which will also help simplify its software offering, Schnake added.

Persons: Campo, Leonardo Benassatto, chipmakers, Karsten Schnake, Dirk Grosse, Taiwan's TSMC, Schnake, Victoria Waldersee, Jan Schwartz, Bill Berkrot Organizations: REUTERS, Rights, NXP Semiconductors, Infineon Technologies, Renesas Electronics, Volkswagen, Intel, Thomson Locations: Sao Bernardo, Sao Paulo state, Brazil, Berlin, Germany

Arm's sales fell to $2.68 billion in the 12 months ended March 31, hurt by a slump in global smartphone shipments, the source said, requesting anonymity. In May, SoftBank reported that revenue for the year at Arm had grown 5.7% under International Financial Reporting Standards. Arm will disclose its latest financials next week under the U.S. accounting standards, the source added. Reuters had previously reported that SoftBank was aiming to list Arm at a valuation of $60 billion to $70 billion in the IPO. Arm's IPO preparations are being led by Goldman Sachs Group (GS.N), JPMorgan Chase (JPM.N), Barclays Plc (BARC.L) and Mizuho Financial Group.

Persons: SoftBank, Goldman Sachs, JPMorgan Chase, Arm's financials, Anirban Sen, Manya, Shinjini Organizations: Nasdaq, Reuters, Vision Fund, Goldman, JPMorgan, Barclays Plc, Mizuho Financial Group, Bloomberg News, Manya Saini, Thomson Locations: New York, Bengaluru

☆ Applied Materials forecasts upbeat fourth quarter
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +1 min

A smartphone with a displayed Applied Materials logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/file photo Acquire Licensing RightsAug 17 (Reuters) - Semiconductor equipment maker Applied Materials (AMAT.O) forecast fourth-quarter results above market estimates on Thursday on strong demand from chipmakers setting up new manufacturing plants, sending its shares up 3% after the bell. Governments across the globe have in the past year doled out billions of dollars in subsidies to boost domestic chip manufacturing, which benefited companies such as Applied Materials and KLA (KLAC.O) whose tools are essential in chip making. Santa Clara, California-based Applied Materials expects revenue of $6.51 billion in the fourth quarter, plus or minus $400 million, compared with analysts' average estimate of $5.86 billion, according to Refinitiv data. It expects adjusted profit per share between $1.82 and $2.18, above market estimate of $1.61.

Persons: Dado Ruvic, Jaspreet Singh, Shinjini Organizations: REUTERS, Semiconductor, Applied, Materials, Thomson Locations: Santa Clara , California, Bengaluru

☆ Lenovo Q1 revenue misses forecasts, hit by poor PC demand
▼ + stars: | 2023-08-17 | by ( Josh Ye | ) www.reuters.com time to read: +3 min

The world's largest PC maker has now suffered four consecutive quarters of sales declines. Revenue in the April-June quarter fell to $12.9 billion, below a $13.84 billion average of seven analyst estimates compiled by Refinitiv. Lenovo shares in Hong Kong fell as much as 6% after the result but recouped some losses to trade down 2.9%, while the benchmark index (.HSI) gained 0.9%. However, revenue started contracting last year as demand began to fall, weighed down by rising interest rates and soaring inflation. "The group’s PC business is stabilizing and well-positioned for a year-on-year recovery in the later part of 2023," Lenovo said in a statement.

Persons: Thomas White, HSI, Yang Yuanqing, he's, Yang, Josh Ye, Miyoung Kim, Lincoln, Sonali Paul Organizations: Lenovo, REUTERS, HK, Revenue, Refinitiv, Global, Thomson Locations: HONG KONG, Hong Kong, China

☆ Activists ease up on Salesforce — plus, 10 other Club stocks traded by Wall Street pros
▼ + stars: | 2023-08-16 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +10 min

The extraordinary activist-investor interest in Salesforce (CRM) eased further in the second quarter, according to the latest regulatory filings from influential Wall Street pros. His firm still owned about 2 million Salesforce shares as of June 30. Tepper also bought 2.3 million shares of Advanced Micro Devices (AMD) and 480,000 shares of Apple (AAPL) during the second quarter. As a result, Appaloosa's holdings as of mid-August may differ significantly from the conclusion of the second quarter. GOOGL YTD mountain Alphabet YTD performance Bets on Google's parent company, Alphabet (GOOGL), varied in the second quarter.

Persons: Dan Loeb's, Jeff Smith's, Salesforce, Jeffrey, Starboard's Jeff Smith, Smith, he's, 13Fs, it's, Marc Benioff, Mason Morfit, Paul Singer's Elliott, Elliott, Elliott —, Nelson Peltz's, Bob Iger, Peltz, David Tepper, Tepper, Bill Ackman's, Seth Klarman, Loeb, Klarman, Stanley Druckenmiller, Druckenmiller, Eli Lilly, That's, Jim Cramer's, Jim Cramer, Jim, Kim Kulish Organizations: Inclusive Capital, CNBC, Paul Singer's Elliott Management, Constellation, Club, Constellation Brands, Corona, Modelo, DIS, Disney, Management, Walt Disney Co, Peltz, Nvidia, Appaloosa Management, Microsoft, Micro Devices, Apple, AMD, Bill Ackman's Pershing, Capital Management, Oracle, Duquesne Family Office, Jim Cramer's Charitable, Corbis, Getty Locations: Salesforce, Tuesday's

☆ China does Intel a small favor
▼ + stars: | 2023-08-16 | by ( Jonathan Guilford | ) www.reuters.com time to read: +3 min

Acquire Licensing RightsNEW YORK, Aug 16 (Reuters Breakingviews) - Intel (INTC.O) can thank China later. The chipmaker on Wednesday terminated its $5.4 billion acquisition of Tower Semiconductor (TSEM.TA), after failing to secure approval from the country’s State Administration for Market Regulation. Beijing’s trustbusters are providing a helpful escape route from the intensifying technology trade war. Reuters GraphicsAdding Tower would have helped Intel boss Pat Gelsinger with his strategic pivot to making semiconductors designed by others. Tower uses old technology, however, while Intel’s new customers, including the U.S. Department of Defense and Qualcomm, want cutting-edge fabrication.

Persons: Pat Gelsinger, MaxLinear, China’s, Jeffrey Goldfarb, Sharon Lam Organizations: Dow Jones Industrial, Intel, Reuters, Tower Semiconductor, Administration, Market, NXP Semiconductors, U.S . Department of Defense, Qualcomm, Wall Street Journal, Motion Technology, Cisco Systems, Acacia Communications, Thomson Locations: San Diego , California, China, country’s, Washington, Beijing

☆ CNBC Daily Open: There is an alternative
▼ + stars: | 2023-08-15 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Nvidia Stock Soar | Future Publishing | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Rather, it was "a pause that refreshes" — a healthy adjustment to "oversold market conditions," Stoltzfus wrote. "Fixed income just looks relatively attractive, especially [relative to] where [we] were just a couple of years ago," said Kevin Gordon, senior investment strategist at Charles Schwab . Whatever choice investors make, then, it's made under a backdrop of heathy conditions — something rare since the pandemic.

Persons: chipmakers, that's, Oppenheimer, John Stoltzfus, Stoltzfus, Kevin Gordon, Charles Schwab, Ashish Shah, it's, Adam Crisafulli Organizations: Nvidia, Future, CNBC, Dow Jones, Nasdaq, Treasury, Goldman Sachs Asset Management Locations: Hangzhou, China, U.S

☆ CNBC Daily Open: Tech is back
▼ + stars: | 2023-08-15 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Tech reboundU.S. stocks started the week on a positive note, thanks to a rebound in chipmakers and technology stocks. Back to golf, not bankingGoldman Sachs' former CEO Lloyd Blankfein can't imagine returning to his old firm, he told CNBC. The Fed, in turn, will begin lowering interest rates before the end of June 2024, the bank forecast.

Persons: Morgan Stanley, Goldman Sachs, Lloyd Blankfein, Blankfein, China's, Russia's staunchest Organizations: CNBC, Tech, Philips, Nvidia, New York Times, Beijing, West, Federal Reserve Locations: chipmakers, China, Ukraine, Russia

☆ Beware these stocks lurking in your portfolio as China economy wobbles
▼ + stars: | 2023-08-15 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Turmoil in the Chinese economy can mean bad news for a range of popular stocks. And the global superpower has flashed warning signs in recent days, signaling stocks with exposure to the country could feel pressure. In May, Morgan Stanley screened for publicly traded companies in the U.S. with the highest share of revenue connected to China. Other stocks to watch To be sure, exposure to China extends beyond the semi landscape. Battery manufacturer Microvast was the most exposed with 80% of revenue coming from China, Morgan Stanley's analysis found.

Persons: Morgan Stanley, Baird, Microvast, Morgan, Wynn, — CNBC's Michael Bloom Organizations: Reuters, Nvidia, UBS, Marvell Technology, Silicon Laboratories, Devices, Qualcomm, Wynn Resorts, Vegas, Street, Las Vegas Sands, Western Locations: China, Beijing, U.S, Refinitiv, Wells Fargo, Vegas, Las Vegas, Corning

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