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☆ China suffers its first foreign investment deficit as US tensions and anti-spying laws spark a western exodus
▼ + stars: | 2023-11-06 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

China just posted a quarterly foreign investment deficit for the first time. Officials have released foreign direct investment figures each quarter for the past 25 years – and it's the first time the gauge has turned negative, Reuters reported. The deficit suggests that western countries and companies are shunning China with Sino-US tensions steadily rising and new anti-spying laws spooking international investors. Analysts flagged that clampdown as one factor driving the decline in foreign direct investment. The foreign direct investment deficit is far from the only economic headache that Beijing faces.

Persons: China's, —, Joe Biden, Duncan Wrigley, Mark Mobius, he'd Organizations: Service, State Administration of Foreign, Reuters, Analysts, Macroeconomics, Bloomberg, " International, Micron, Bain, Co Locations: China, Beijing, Shanghai

☆ China pledges to expand market access at annual trade fair amid foreign criticism
▼ + stars: | 2023-11-05 | by ( Brenda Goh | ) www.reuters.com time to read: +3 min

SHANGHAI, China (Reuters) -China will further expand market access and increase imports, its premier told a trade fair in Shanghai on Sunday, amid criticism from European firms who said they wanted to see more tangible improvement in the country’s business environment. China will promote coordinated development of trade in goods and services, protect an international business environment, and relax market access including lifting restrictions on foreign investment in manufacturing, he said. The import expo was launched by President Xi Jinping in 2018 to promote China’s free trade credentials and counter criticism of its trade surplus with many countries. China’s imports have slumped this year amid a slowdown in the world’s second largest economy, although data released last month indicated that the downtrend could be starting to ease. China will “actively promote” its application to join the Comprehensive Progressive Trans-Pacific Partnership (CPTPP), Li also said in his speech on Sunday.

Persons: Li Qiang, Tingshu Wang, ” Li, Xi Jinping, Li, Anthony Albanese, “ Organizations: Hangzhou Olympic Sports Centre, China, European Chamber of Commerce, Micron Technology, Nestle, Burberry, Australian, Pacific Locations: SHANGHAI, China, Shanghai, Hangzhou, Afghan, Australia, United States, Taiwan, Ukraine, Costa Rica, Uruguay, Ecuador, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam, Britain

☆ China warms to U.S. chipmaker Micron, as tensions with Washington ease
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +2 min

The company logo is seen on the Micron Technology Inc. offices in Shanghai, China May 25, 2023. "We welcome Micron Technology to continue to take root in the Chinese market and achieve better development under the premise of complying with Chinese laws and regulations," Wang added. The detente comes just months after China's cyberspace regulator said Micron had failed a network security review and barred Chinese operators of key infrastructure from buying from the largest U.S. memory chipmaker. China's move against Micron was widely seen as retaliation for Washington's efforts to restrict Beijing's access to key technology. Reporting by Beijing newsroom; Editing by Sonali Paul and Lincoln FeastOur Standards: The Thomson Reuters Trust Principles.

Persons: Aly, Wang Wentao, Sanjay Mehrotra, Wang, China's, Joe Biden, Xi Jinping, Sonali Paul, Lincoln Organizations: Micron Technology Inc, REUTERS, Rights, Micron Technology, Commerce, Micron, Economic Cooperation, Beijing, Thomson Locations: Shanghai, China, Rights BEIJING, Beijing, Washington, Asia, San Francisco

REUTERS/Andrew Galbraith/File Photo Acquire Licensing RightsSHANGHAI, Nov 3 (Reuters) - The European Union Chamber of Commerce on Friday criticised an upcoming trade fair in China as being more of a "political showcase" than about doing business and pushed for more tangible measures to restore confidence among European companies. "It's more a government affairs event, more a marketing event and there's been really little said on business. You can say CIIE has become more of a political showcase rather than a business event," Carlo D'Andrea, the chamber's vice president, told reporters at a briefing in Shanghai. "European businesses are becoming disillusioned as symbolic gestures take the place of tangible results needed to restore business confidence," he said. The European Union's top diplomat, Josep Borrell, visited last month, as have several other top EU officials in recent months.

Persons: Xi Jinping, Andrew Galbraith, Li Qiang, Anthony Albanese, there's, Carlo D'Andrea, Josep Borrell, Brenda Goh, Sonali Paul Organizations: China, REUTERS, Rights, European Union Chamber of Commerce, Australian, European Union, Micron, Nestle, Burberry, Thomson Locations: Shanghai, China, Europe, EU

☆ Taiwanese chip firm to build a $5.3 billion factory in Japan as country seeks semiconductor boost
▼ + stars: | 2023-10-31 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

The first phase of the project in the Miyagi Prefecture north of the capital Tokyo, will require a 420 billion yen investment. Taiwan's Powerchip Semiconductor Manufacturing Corporation (PSMC) and Japanese financial conglomerate SBI Holdings have chosen a site in northern Japan for an 800 billion yen ($5.3 billion) chip manufacturing plant, the two firms said Tuesday. The PSMC and SBI factory will manufacture semiconductors in the 28 nanometer, 40 nanometer and 55 nanometer categories. U.S. memory chipmaker Micron announced in May that it would invest up to 500 billion yen in Japan over the next few years, including into manufacturing. In June, a fund backed by the Japanese government proposed a 903.9 billion yen acquisition of semiconductor materials giant JSR .

Organizations: SBI Holdings, Powerchip Semiconductor Manufacturing Corporation, SBI, Toyota, Honda, Micron Locations: Japan, Miyagi Prefecture, Tokyo, U.S, China

☆ Big government will drive the next market cycle
▼ + stars: | 2023-10-31 | by ( Francesco Guerrera | ) www.reuters.com time to read: +8 min

Growth picked up while quiescent inflation permitted interest rates to fall. Bereft of government support, central banks tried to stimulate their economies by pushing interest rates to new lows. That means interest rates will struggle to return to the ultra-low levels seen after 2008. The first takeaway is that higher debt levels, inflation and interest rates should be bad for bonds. Vincent Deluard of StoneX has proposed a division between intangible and tangible companies.

Persons: Kevin Lamarque, ” Ronald Reagan’s, Milton Friedman –, Britain’s Margaret Thatcher –, Reaganomics ”, Réka Juhász, Nathan J, Lane, Dani Rodrik, government’s, Vincent Deluard, StoneX, Lockheed Martin, Peter Thal Larsen, Oliver Taslic, Thomas Shum Organizations: Republicans, Capitol, REUTERS, Reuters, Bank, Asset, Monetary Fund, Treasury, Capital Economics, Reuters Graphics Reuters Graphics, Capital, Facebook, Meta, Lockheed, Micron Technology, U.S, Congress, Nasdaq, Energy, Exxon Mobil, Labour Party, Thomson Locations: Washington , U.S, “, Ukraine, Covid, Europe, United States, United Kingdom, Germany, Japan

☆ Biden officials set $3 bln bank deposit, procurement goals to boost minority firms
▼ + stars: | 2023-10-25 | by ( David Lawder | ) www.reuters.com time to read: +3 min

U.S. Vice President Kamala Harris delivers remarks during the Congressional Black Caucus Foundation Phoenix Awards Dinner at the Walter E. Washington Convention Center in Washington, U.S., September 23, 2023. REUTERS/Elizabeth Frantz/File Photo Acquire Licensing RightsWASHINGTON, Oct 25 (Reuters) - The Biden administration on Wednesday urged big companies to deposit another $2 billion into U.S. community lenders to boost loans to minority and underserved businesses, and asked them to devote 15% of their procurement budgets to such firms. Alphabet Inc's Google (GOOGL.O) will commit to spending at least $1 billion annually with "diverse-owned suppliers" in the United States, the Treasury said. The Treasury had previously invested nearly $9 billion into Community Development Financial Institutions (CDFIs) and minority-owned banking firms to make more capital available to minority firms. "In order for these minority owned banks and CDFIs to lend that money, they need deposits," Deputy Treasury Secretary Wally Adeyemo told reporters.

Persons: Kamala Harris, Walter E, Elizabeth Frantz, Biden, Harris, Wally Adeyemo, David Lawder, Sonali Paul Organizations: Congressional Black Caucus Foundation, Washington Convention Center, REUTERS, Rights, Wednesday, Micron Technology, Air Products, Xcel Energy, Treasury Department, Treasury, Freedman's Bank, Community Development Financial, Management, Internal Revenue Service, Thomson Locations: Washington , U.S, United States

☆ VCs Marc Andreessen, John Doerr among attendees at Schumer's next AI forum
▼ + stars: | 2023-10-23 | by ( Lauren Feiner | ) www.cnbc.com time to read: +2 min

Technologists and advocates are again set to visit Capitol Hill on Tuesday to discuss with Senate leaders the perils and promises of artificial intelligence. Venture capitalists Marc Andreessen, co-founder and general partner of Andreessen Horowitz, and John Doerr, chair of Kleiner Perkins, will be among the 21 attendees at the second AI Insights Forum hosted by Senate Majority Leader Chuck Schumer, D-N.Y., according to a spokesperson for his office. The session is a continuation of the Majority Leader's effort to get the chamber up to speed on AI to determine how best to approach AI regulation. For example, Future of Life Institute President Max Tegmark is also set to attend. Other tech leaders such as Micron Executive Vice President Manish Bhatia, Revolution CEO Steve Case, Stripe CEO Patrick Collison and Cohere CEO Aidan Gomez will be in attendance.

Persons: Marc Andreessen, Andreessen Horowitz, John Doerr, Kleiner Perkins, Chuck Schumer, Andreessen, Max Tegmark, Elon Musk, Manish Bhatia, Steve Case, Patrick Collison, Aidan Gomez, Derrick Johnson, Amanda Ballantyne, Satya Nadella, Bill Gates, Mark Zuckerberg, Sundar Pichai, Sam Altman Organizations: Capitol, Senate, China, Life, Life Institute, Tesla, Space X, Micron, NAACP, AFL, Technology, Microsoft, Google, CNBC, YouTube Locations: coders, India

☆ How Micron is building the biggest chip fab in U.S. history despite a China ban and smartphone slump
▼ + stars: | 2023-10-23 | by ( Katie Tarasov | ) www.cnbc.com time to read: +12 min

But multiple memory chips are needed to support each GPU or CPU, so making memory requires more fab space. Micron says construction in New York will begin at the end of 2024 and chip production there will start in 2027. By 1980, it was building its first fab and a year later was pumping out a revolutionarily small 64K DRAM chip. Gatzemeier, who joined as an intern in 1997, explained the two main kinds of memory: DRAM and NAND. When it comes to the biggest type of memory, DRAM, Samsung is by far the leader, followed by SK Hynix and then Micron.

Persons: Sanjay Mehrotra, Ben Farrar, Scott Gatzemeier, Mehrotra, Chuck Schumer, Schumer, Kathy Hochul, Hochul, Gatzemeier, Katie Tarasov, Kent Kessinger, Patrick Moorhead, Gaurav Gupta, it's, Moorhead, HBM, China's, Gartner's Gupta, that's, Xi Jinping, Micron's Organizations: Samsung, SK Hynix, Micron, CNBC, U.S, Intel, AMD, Labor, Syracuse . New York Gov, New York, Texas, Gartner, Apple, Motorola, Asus, China Micron, Biden Locations: South Korea , Idaho, U.S, China, Japan, Taiwan, Boise , Idaho, New York, Manassas , Virginia, Syracuse , New York, Asia, Syracuse, Idaho, New, Jose, Boise, India, Fujian

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMicron is building the biggest-ever U.S. chip fab, despite China banMicron, Samsung and SK Hynix are responsible for making 90% of the world's DRAM memory chips, and Micron is the only one based in the U.S. That's made it the latest target of bans from China. Yet Micron is spending $115 billion to build the biggest chip project in U.S. history. CNBC visited Micron in Idaho and talked to Gov. Kathy Hochul in New York to hear about the new fabs. We also asked Senate Majority Leader Chuck Schumer about Micron ahead of his meeting with Chinese President Xi Jinping.

Persons: That's, Kathy Hochul, Chuck Schumer, Xi Jinping Organizations: Micron, Samsung, SK Hynix, CNBC Locations: China, U.S, Idaho, New York

☆ Tesla Cybertruck's unique, angular design makes it difficult to manufacture, slowing production
▼ + stars: | 2023-10-20 | by ( Lloyd Lee | Tim Levin | ) www.businessinsider.com time to read: +3 min

One issue is the Cybertruck's design, which experts have said will pose manufacturing challenges. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Musk pointed to the unique design of the vehicle, which he said is packed with "a lot of new technology," that makes manufacturing the Cybertruck at high volumes an immense challenge. What makes the truck unique — its angular design and stainless steel body — is a large part of the problem, Musk and experts have said.

Persons: Tesla, Elon Musk, —, Musk, Adrian Clarke, Clarke, Raj Rajkumar Organizations: Service, CNBC, Fast Company, Carnegie Mellon University, Wired

☆ Google to manufacture smartphones in India starting with Pixel 8
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +1 min

The new Pixel 8 Phone is displayed in New York City, U.S., October 4, 2023. REUTERS/Caitlin Ochs/File Photo Acquire Licensing RightsNEW DELHI, Oct 19 (Reuters) - Alphabet Inc (GOOGL.O) will start manufacturing in India and will partner with international and domestic manufacturers to produce its Pixel smartphones locally, starting with Pixel 8, an executive said on Thursday. The devices are expected to be rolled out in 2024, Rick Osterloh, senior vice president of devices and services, said at a Google event. "India is a priority market for Pixel smartphones, and we’re committed to bringing the best of our hardware and underlying built-in software capabilities to people across the country," Osterloh said. India is aiming to become a manufacturing powerhouse, amid a greater push for Prime Minister Narendra Modi's "Make in India" initiative.

Persons: Caitlin Ochs, Rick Osterloh, we’re, Osterloh, Narendra Modi's, Tanvi Mehta, Blassy, Muralikumar Organizations: REUTERS, smartphones, Apple, Micron Technology, Thomson Locations: New York City, U.S, DELHI, India

☆ What new U.S. export controls on China mean for Nvidia and other key parts of AI ecosystem
▼ + stars: | 2023-10-19 | by ( Samantha Subin | ) www.cnbc.com time to read: +6 min

Washington's tightened grip on artificial intelligence chip sales to China could have long-term implications for Nvidia , 2023's famed AI darling. Through Wednesday's close, Nvidia, the dominant AI player, had lost 7% this week, while Advanced Micro Devices and Marvell Technology slumped more than 2%. What it means for Nvidia Nvidia said in an SEC filing this week that the latest government curbs could hinder its new product development timeline, and a handful of chip models. The major aim of the latest U.S. restrictions is to prevent China from harnessing advanced semiconductor chips to strengthen its military. To be sure, Nvidia isn't the only company slated to feel the pressure from the latest export curbs.

Persons: Greg Bassuk, Atif Malik, Morgan Stanley's Joseph Moore, Malik, America's Vivek Arya, Harlan Sur, Goldman Sachs, Toshiya Hari, Paul Meeks, Meeks, Charles Shi, JPMorgan's, Raymond James, Srini Pajjuri, Michael Bloom Organizations: Nvidia, U.S . Commerce Department, Devices, Marvell Technology, Commerce Department, Micron Technology, AXS Investments, Nvidia Nvidia, SEC, United, United Arab Emirates, Citi, Intel, Investments, Bank, America's, JPMorgan Chase, Lam Locations: China, Boise , Idaho, Vietnam, Saudi Arabia, United Arab, Freemont , California

☆ Elon Musk says 'we dug our own grave' with the Cybertruck as he warns Tesla faces enormous production challenges
▼ + stars: | 2023-10-19 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

Tesla CEO Elon Musk said the Cybertruck's unique design has made scaling up production a challenge. The pickup has faced numerous delays and production challenges since it was announced in 2019. AdvertisementAdvertisementElon Musk said that Tesla "dug its own grave" with the Cybertruck, as he warned that it would take years for the company to ramp up production of the electric pickup. "We dug our own grave with the Cybertruck," Musk said. He warned that the challenges of scaling up production meant that it would likely be around 18 months before the Cybertruck is cash flow positive.

Persons: Elon Musk, —, Tesla, Musk, you've Organizations: Service, Tesla, Ford, CNBC, micron

REUTERS/Florence Lo/Illustration Acquire Licensing RightsOct 18 (Reuters) - Chip manufacturing equipment supplier Lam Research (LRCX.O) forecast second-quarter revenue slightly below Wall Street estimates on Wednesday due to weak memory chip demand, even though its China business continues to boom. Lam posted first-quarter revenue of $3.48 billion, compared with market estimates of $3.41 billion. China constituted 48% of its first-quarter revenue compared with 30% a year earlier, the company said. The rules narrowed restrictions announced last year that cost Lam roughly $2 billion dollars in lost revenue. "I don't know if China is up, down or sideways next year, but it's not going away," Bettinger said.

Persons: Florence Lo, Doug Bettinger, Bettinger, Lam, it's, Jaspreet Singh, Max A, Sriraj Kalluvila, Jamie Freed Organizations: REUTERS, Lam Research, Samsung Electronics, SK Hynix, Micron Technology, Thomson Locations: China, Fremont , California, Bengaluru, Max, San Francisco

☆ Explainer: Biden combines billions in chipmaking grants with China curbs to keep US ahead
▼ + stars: | 2023-10-17 | by ( Alexandra Alper | ) www.reuters.com time to read: +4 min

Semiconductor chips are seen on a printed circuit board in this illustration picture taken February 17, 2023. Those rules aimed to stem the flow of high-end American artificial intelligence chips and chipmaking tools into China. The United States has been locked in a technology war with China since former President Trump blacklisted Chinese telecoms giant Huawei in 2019. BILLIONS FOR CHIPSThe United States, meanwhile, has been helping non-Chinese chipmakers negotiate with states like Arizona, Texas and New York to set up shop or grow existing operations. According to the Semiconductor Industry Association, the share of global semiconductor manufacturing capacity in the U.S. has decreased from 37% in 1990 to 12% in 2022.

Persons: Florence Lo, Biden, Emily Kilcrease, Trump, Joe Biden, ”, Peter Harrell, TSMC, Alexandra Alper, Jonathan Oatis Organizations: REUTERS, Rights, U.S, Center, New, New American Security, Trade Representative, United, Huawei, Biden, chipmaker Micron, Semiconductor Industry Association, Samsung, Intel, Companies, Chips, Science, Thomson Locations: China, United States, New American, U.S, Arizona , Texas, New York, South, Ohio, Taiwan

TOKYO, Oct 16 (Reuters) - Chip equipment maker Kokusai Electric (6525.T) has raised $724.4 million after pricing its shares at the top end of their marketed range in Japan's largest initial public offering in five years. Kokusai, owned by U.S. private equity firm KKR (KKR.N), set its IPO price at 1,840 yen per share, according to a filing on Monday, valuing the company at 423.9 billion yen ($2.8 billion). If an overallotment option for domestic investors is exercised, the offering would raise roughly $833 million. The move was partly due to a lacklustre share price performance by chip designer Arm since its listing last month, a source familiar with the matter has said. Kokusai's largest customers are Samsung Electronics (005930.KS), TSMC (2330.TW) and Micron Technology (MU.O), collectively accounting for more than 40% of its revenue.

Persons: Mariko Katsumura, Sam Nussey, Miho Uranaka, Kim Coghill, Edwina Gibbs Organizations: Kokusai, U.S, KKR, Tokyo bourse's, Samsung Electronics, Micron Technology, Thomson Locations: TOKYO

☆ Top Wall Street analysts believe in the long-term potential of these stocks
▼ + stars: | 2023-10-15 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +7 min

In this article COSTMUINTCMETAAMZN Follow your favorite stocks CREATE FREE ACCOUNTAn Amazon delivery truck at the Amazon facility in Poway, California, Nov. 16, 2022. Investors seeking a sense of direction can turn to analysts who identify companies that have lucrative long-term prospects and the ability to navigate near-term pressures. To that end, here are five stocks favored by Wall Street's top analysts, according to TipRanks, a platform that ranks analysts based on their past performance. JPMorgan analyst Doug Anmuth noted the recent sell-off in AMZN stock and highlighted certain investor concerns. Also on investors' mind is Amazon Web Services' growth, with multiple third-party data sources indicating a slowdown in September.

Persons: Sandy Huffaker, Wall, Doug Anmuth, Anmuth, TipRanks, Needham, Quinn Bolton, Bolton, Sidney Ho, Ho Organizations: MU, Reuters Investors, Investors, JPMorgan, Federal Trade, Meta, Meta Connect, Intel, Systems Business, PSG, Bolton, TipRanks, Micron Technology, Deutsche Bank, Micron, Costco Locations: Poway , California

The world's largest memory chip and smartphone maker estimated its operating profit fell to 2.4 trillion won ($1.79 billion) in July-September, from 10.85 trillion won a year earlier in a short preliminary earnings statement. The profit beat a 2.1 trillion won LSEG SmartEstimate, which is weighted toward forecasts from analysts who are more consistently accurate. Although down sharply from last year, Samsung's third quarter profit is higher than the first quarter's 640 billion won and the second quarter's 670 billion won. Rival Micron Technology (MU.O) also forecast a quarterly loss last month, triggering concerns of a sluggish recovery in the memory chip maker's end markets such as data centres. Samsung's revenue likely fell 13% from the same period a year earlier to 67 trillion won, Samsung said in the statement.

Persons: Yves Herman, LSEG, Samsung's, chipmakers, 1,342.1900, Joyce Lee, Heekyong Yang, Jamie Freed Organizations: Samsung, REUTERS, Rights, Samsung Electronics Co, Micron Technology, Apple, Thomson Locations: Brussels, Diegem, Belgium, Rights SEOUL, KS, Korean

The indicative price range was set at 1,830-1,840 yen per share, KKR-backed Kokusai said in a regulatory filing on Tuesday, compared with 1,890 yen previously. Kokusai said the lower range reflected the view of institutional investors and the state of the stock market. If its IPO prices at the top of the range, Kokusai, which manufactures machines that deposit thin films on silicon wafers, will offer 108.3 billion yen ($729 million) worth of shares and have a market valuation of 423.9 billion yen, excluding an overallotment. Capital Research and Management and Lazard Asset Management have committed to purchase shares at the offer price, Kokusai said in a separate filing. Kokusai's largest customers are Samsung Electronics (005930.KS), TSMC (2330.TW) and Micron Technology (MU.O), collectively accounting for more than 40% of its revenue.

Persons: Kokusai, SoftBank Group's, Sam Nussey, Makiko Yamazaki, Miho Uranaka, Kaori Kaneko, Christian Schmollinger, Sonali Paul, Edmund Klamann Organizations: Kokusai, KKR, Capital Research, Management, Lazard Asset Management, Samsung Electronics, Micron Technology, Investors, Micron, Thomson Locations: TOKYO

☆ Samsung Q3 profit set to slump 80% as chip losses persist
▼ + stars: | 2023-10-09 | by ( Joyce Lee | ) www.reuters.com time to read: +3 min

[1/2] A view shows Samsung Electronics' chip production plant at Pyeongtaek, South Korea, in this handout picture obtained by Reuters on September 7, 2022. The world's biggest maker of memory chips, smartphones and televisions will announce its third-quarter preliminary earnings results on Wednesday. It compares with an operating profit of 10.85 trillion won in the September quarter last year. Analysts said Samsung's cuts to chip production also hurt economies of scale, lifting the costs of making chips. Rival Micron Technology (MU.O) forecast a quarterly loss last month, triggering concerns of a sluggish recovery in the memory chip maker's end markets such as data centres.

Persons: 1,347.1300, Joyce Lee, Jamie Freed Organizations: Samsung Electronics, Reuters, REUTERS, Rights, Analysts, Samsung, Micron Technology, KB Securities, SK Hynix, Nvidia, Thomson Locations: Pyeongtaek, South Korea, Rights SEOUL, Korean, American

☆ TSMC is stalling an agreement that would make its Phoenix plant safer and more efficient, an Arizona union says
▼ + stars: | 2023-10-06 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +8 min

TSMC and a group of unions are in talks to address Arizona workers' safety and training concerns. AdvertisementAdvertisementThe monthslong feud between the world's leading chipmaker and the union workers building its Arizona factory isn't over. "We've had discussions with TSMC , and we've provided what we feel is a good framework for an agreement," she said. The unions are specifically seeking a project-labor agreement, a legally binding collective bargaining agreement that is unique to the construction industry. The TSMC construction site in Phoenix.

Persons: —, Brandi Devlin, hadn't, TSMC, We've, we've, we're, Devlin, Jacob Zinkula, Joe Biden, Gina Raimondo, Arizona, Phoenix hasn't, Aaron Butler Organizations: Service, Taiwan Semiconductor Manufacturing Co, Arizona, PLAs, chipmaker Micron, US, Phoenix Jacob, Department of Commerce, Commerce Department Locations: Arizona, New York, Phoenix, China, America, TSMC, Taiwan

☆ Former Trump cabinet member Wilbur Ross lays out which industries remain dependent on China and which trade partners could fill in the gap
▼ + stars: | 2023-10-05 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +3 min

Wilbur Ross said pharmaceuticals and industries reliant on rare minerals are still dependent on China. Countries like India, Vietnam, and Mexico will grow to become bigger trade partners, he predicted. Still, there are several industries reliant on China, Ross said. AdvertisementAdvertisementAs the US and China continue their diplomatic standoff, he believes trade partners like Vietnam and Mexico will grow in importance. The U.S. exported $195.5 billion worth of goods to China in 2022, while bringing in more than $560 billion worth of Chinese goods, according to the U.S. Trade Representative.

Persons: Wilbur Ross, —, Commerce Wilbur Ross doesn't, Joe Biden's, Lockheed Martin, Ross, Donald Trump, Ross doesn't, there's Organizations: Commerce, Service, Lockheed, Micron, Intel, Greenwich Economic, Trump, U.S . Trade Representative Locations: China, India, Vietnam, Mexico, Greenwich, U.S

☆ Tesla's Cybertruck is still MIA
▼ + stars: | 2023-10-02 | by ( Nora Naughton | ) www.businessinsider.com time to read: +4 min

Details on Tesla's futuristic-looking Cybertruck are still sparse. AdvertisementAdvertisementThe Tesla Cybertruck still hasn't officially launched yet, missing CEO Elon Musk's third-quarter target. Details on the Cybertruck are still sparseSome Cybertruck order-holders have told Insider that they are concerned about how few details Tesla has shared with them on the Cybertruck. And this isn't just any Tesla vehicle launch: it's Tesla's entrance into the highly-competitive pickup truck market, where specs and prices are closely followed by shoppers. Tesla hasn't set a date for the Cybertruck launch partyIn late August, Tesla said customers could buy invitations to a Cybertruck delivery event using 30,000 referral credits, which owners accrue through Tesla purchases.

Persons: Elon Musk, —, hasn't, Elon Musk's, Tesla, Musk, Sam Fiorani, Fiorani, Ford Organizations: Service, Industry, AutoForecast Solutions, General Motors, Toyota

☆ Samsung to manufacture chips from AI chip startup Tenstorrent
▼ + stars: | 2023-10-02 | by ( Max A. Cherney | ) www.reuters.com time to read: +2 min

REUTERS/Yves Herman/File Photo Acquire Licensing RightsOct 2 (Reuters) - Samsung's contract chip manufacturing arm picked up a new artificial intelligence chip customer, a Canadian startup called Tenstorrent, the company said on Monday. Tenstorrent is among a number of startups looking to challenge Nvidia (NVDA.O), which dominates the market for AI chips. As part of the deal, Tenstorrent plans to use one of Samsung's advanced manufacturing processes, known as 4nm, to produce the chips. The chip Samsung will manufacture is named Quasar, and is not based on RISC-V technology. The chip deal follows a Samsung investment in Tenstorrent in August as part of a $100 million capital raise that included Hyundai Motor Co (005380.KS) and others.

Persons: Yves Herman, Tenstorrent, Jim Keller, Max A, Leslie Adler Organizations: Samsung, REUTERS, Nvidia, Intel, Micron Devices, Hyundai Motor Locations: Brussels, Diegem, Belgium, Canadian, Tenstorrent, San Francisco

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