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☆ Buy these 6 stocks now to bet on the AI revolution and other rapidly growing industries, according to the managers behind a fund that's rebounded from bottom 1% performance last year to a top 1% perfo
▼ + stars: | 2023-07-23 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

Here are six top growth stocks in rapidly expanding industries like artificial intelligence. In an ocean of growth-focused funds, the Virtus Zevenbergen Innovative Growth Stock Fund (SAGAX) has an unrivaled knack for standing out — for better or worse. The basket of growth stocks has logged an astounding 62% year-to-date gain, which makes it one of the best-performing mutual funds in 2023. How to successfully invest in growth stocks in any marketThe core tenets that have anchored the Virtus Zevenbergen Innovative Growth Stock Fund through the storms of the last few years are simple, though following them can be challenging. The Virtus Zevenbergen Innovative Growth Stock Fund usually has 30-to-40 holdings at a time, Dennison said, and stocks stay in the portfolio for an average of over five years.

Persons: Anthony Zackery, Joe Dennison don't, they've, Dennison, Zackery, Nancy Zevenbergen, Brooke de Boutray, who've, Zackery isn't, He's, he's Organizations: Virtus, Stock Fund, Fund, Devices, Nvidia, Technology, Amazon, Netflix, Mercado Libre Locations: Zackery, Canada, Latin America, The Uruguay

☆ Chinese chipmaker Hua Hong seeks up to $2.95 billion in mainland listing
▼ + stars: | 2023-07-23 | by ( ) www.reuters.com time to read: 1 min

BEIJING, July 23 (Reuters) - Chinese chipmaker Hua Hong Semiconductor (1347.HK) said on Sunday it aims to raise up to 21.2 billion yuan ($2.95 billion)in a listing on the Shanghai stock exchange. The country's second-largest chip foundry will sell 407.75 million shares priced at 52 yuan per share, it said in a statement to the exchange. The IPO by the chipmaker is set to be the biggest mainland listing this year. It comes as Chinese chipmakers rush to raise capital as Beijing seeks self-sufficiency in an escalating technology war with Washington. ($1 = 7.1861 Chinese yuan)Reporting by Dominique Patton and Amy Lv; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

Persons: Hua Hong, Dominique Patton, Amy Lv, Jacqueline Wong Organizations: Hua Hong Semiconductor, HK, Thomson Locations: BEIJING, Shanghai, Beijing, Washington, Hua, Wuxi

☆ U.S. chipmakers don't want to irritate the Chinese government, says China Beige Book’s Leland Miller
▼ + stars: | 2023-07-21 | 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 EmailU.S. chipmakers don't want to irritate the Chinese government, says China Beige Book’s Leland MillerLeland Miller, China Beige Book CEO, joins 'Squawk Box' to discuss the latest in the U.S.-China tech tensions, the impact of companies and investors, and more.

Persons: chipmakers, Leland Miller Leland Miller Organizations: U.S, U.S . Locations: China, U.S

☆ One of Wall Street's favorite chipmakers has seen its value tumble as worker shortages and delays dent investor hype
▼ + stars: | 2023-07-21 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Taiwan Semiconductor is facing business snags that are weighing on its earnings and stock. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. Unfortunately for TSMC — and the chip sector at large — this doesn't exactly come as a surprise. The PHLX Semiconductor Index dipped more than 3.5% Thursday, with every name in the batch closing in the red. Wall Street, for its part, expects Apple's iPhone sales to drop 4% in the fiscal year up to September, according to the Journal.

Persons: It's, TSMC —, Mark Liu, ChatGPT, TSMC Organizations: Taiwan Semiconductor, Service, Taiwan Semiconductor Manufacturing, Nvidia, Semiconductor Industry, Wall Street Journal, PHLX, Investors Locations: Taiwan, Wall, Silicon, Arizona

☆ This global chip giant is set for an 'outsized' growth opportunity from A.I., fund manager says
▼ + stars: | 2023-07-21 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

One global chipmaker is set to benefit from an "outsized growth opportunity" on the back of the artificial intelligence trend, says Richard Clode, fund manager at Janus Henderson Investors. "Ultimately, when you look out in three years time, your iPhone is going to have to have a huge amount of AI capability. Clode manages the Horizon Global Technology Leaders Fund and the Horizon Sustainable Future Technologies Fund. Top holdings in his funds include chipmakers Nvidia and TSMC , payments giants Mastercard and Visa and a range of Big Tech stocks. The Horizon Global Technology Leaders Fund was up around 34% in the six months to the end of June, while the Horizon Sustainable Future Technologies Fund was 25% higher.

Persons: Richard Clode, Janus Henderson, CNBC's, Clode Organizations: Janus Henderson Investors, Taiwan Semiconductor Manufacturing Company, Horizon Global Technology, Fund, Technologies, Nvidia, Mastercard, Visa, Big Tech, Nasdaq, Global Technology

☆ Bullish developments for three stocks across sectors — and our take, too
▼ + stars: | 2023-07-21 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +8 min

Morgan Stanley analysts believe the market for obesity drugs is even larger than initially expected, a finding that aligns with our rosy outlook on Eli Lilly (LLY). The news: Obesity drugs could generate annual sales up to $77 billion in 2030, Morgan Stanley said Friday, a nearly 43% increase to the firm's previous forecast. Insurance reimbursement for obesity drugs has spread quicker than Morgan Stanley expected, which helped prompt the firm to update its multiyear sales outlook. However, there's been some concern that insurance companies would be hesitant to cover this new class of obesity drugs, which carry hefty price tags, along with side effects like nausea and vomiting. Eli Lilly and Company, Pharmaceutical company headquarters in Alcobendas, Madrid, Spain.

Persons: Morgan Stanley, Eli Lilly, LLY, Lilly, Wegovy, Eli Lilly's, Morgan Stanley's, Jim Cramer's, we've, there's, Sartorius, Danaher, We've, We're, Lisa Su, Su, TSM, Apple's, There's, Jim Cramer, Jim, Cristina Arias Organizations: Club, Novo Nordisk, Wall, AMD, Devices, Club holding's, Nikkei Asia, Taiwan Semiconductor Manufacturing Company, Apple, Nvidia, Intel, CNBC, Company, Pharmaceutical Locations: U.S, Japan, Tokyo, Taiwan, China, Beijing, Arizona, Alcobendas, Madrid, Spain

☆ How Samsung and Texas Instruments made the Lone Star State the hub of U.S. chip manufacturing
▼ + stars: | 2023-07-20 | by ( Katie Tarasov | ) www.cnbc.com time to read: +8 min

Samsung, Texas Instruments, Infineon, GlobalWafers, NXP, X-FAB and Applied Materials have all ramped up Texas operations in recent months. Texas Instruments' fab in Sherman, a town of 45,000 people 60 miles north of Dallas, is an even bigger investment. Texas Instruments was founded in 1930 as Geophysical Service Inc., adopting its current name in 1951. CNBC interviewed Flessner at Texas Instruments' RFAB2 fab in Richardson, Texas, a suburb just north of Dallas. Water and powerTexas Instruments' $17 billion chip fab project in Sherman, Texas, on June 15, 2023.

Persons: It's, Greg Abbott, Abbott, Melissa Hebert, Infineon's, Katie Tarasov, Andrew Evers, it's, Austin that's, Jon Taylor, Taylor, David Plyler, Plyler, Jack Kilby, Kyle Flessner, Flessner, Andrew Evers Flessner, Austin fabs Organizations: Samsung, Republican Texas Gov, CNBC, Lone Star State, Texas Instruments, Infineon, Apple, Intel, Taiwan Semiconductor Manufacturing Co, Texas, Service Inc, TI, Local, Texas -, Texas Water, Taylor, Texans Locations: Austin , Texas, South Korean, Sherman , Texas, Texas, China, Taiwan, that's, Arizona, , Texas, Austin, Taylor, U.S, United States, Sherman, Dallas, Richardson , Texas, Richardson, Texoma, Texas - Oklahoma

☆ China's sagging economy looms over quarterly results around the world
▼ + stars: | 2023-07-20 | by ( Noel Randewich | ) www.reuters.com time to read: +4 min

July 20 (Reuters) - China's frail growth could weigh on companies with exposure to the world's second-largest economy, including Apple (AAPL.O), big chipmakers and luxury retailers as they report quarterly results in the next few weeks. China accounted for 36% of NXP's revenue last year and half of Texas Instruments' revenue. Analysts estimate NXP reporting a 3.2% drop in quarterly revenue, with Texas Instruments' revenue tumbling 16%, which would be its steepest drop since 2009, according to Refinitiv. The specialty glass maker blamed "anticipated recession-level demand" for weak results in its previous quarterly report last April. Coffee maker Starbucks (SBUX.O) in May reported quarterly results that beat estimates, powered by recovering demand in China.

Persons: Ross Mayfield, Baird, Cartier, Richemont, Bernstein, Tesla, Jonathan Golub, hobble, David Klink, Noel Randewich, Chavi Mehta, Caroline Valetkovitch, Mimosa Spencer, David Gaffen, Nick Zieminski Organizations: Apple, U.S, Shanghai, ABB, HK, NXP Semiconductors, Texas, Texas Instruments, . Credit Suisse Chief, Equity, Corning Inc, Samsung Electronics, Huntington Private Bank, Reuters, Thomson Locations: China, U.S, Swiss, Asia, ., China . U.S, Washington, Beijing, Oakland , California, Bangalore, New York, Paris

☆ Critical chip firm ASML, caught in China export restrictions, posts 38% rise in profit
▼ + stars: | 2023-07-19 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Dutch firm ASML makes one of the most important pieces of machinery required to manufacture the most advanced chips in the world. Here's how ASML did in the second quarter versus Refinitiv estimates:Net sales : 6.9 billion euros ($7.7 billion), compared with 6.72 billion euros expected. : 6.9 billion euros ($7.7 billion), compared with 6.72 billion euros expected. Net profit: 1.9 billion euros, versus 1.82 billion euros expected. ASML said it expects net sales in the third quarter of this year to sit between 6.5 billion euros and 7 billion euros.

Persons: ASML, Peter Wennink, Wennink Organizations: U.S . Locations: U.S, Dutch, China

The House Select Committee on the Chinese Communist Party sent letters to four separate U.S. venture capital firms, including Qualcomm's venture arm, expressing "serious concern" about their investments in Chinese tech startups. The letters, which were made public on Wednesday, were sent to GGV Capital, GST Ventures, Qualcomm Ventures, and Walden International. Qualcomm Ventures, for example, made 13 investments in Chinese A.I. Walden, a smaller firm, was identified as a particularly significant backer of Chinese AI companies. He said at the time he found there was "broad support" among venture capitalists and others to keep U.S. asset managers from investing in Chinese AI firms.

Persons: Mike Gallagher, Wisconsin Republican Mike Gallagher, Raja Krishnamoorthi, Janet Yellen, Antony Blinken, Gallagher, Krishnamoorthi, SenseTime, GGV, Didi, Megvii, Abu, Walden, Intellifusion, Neil Shen helming Organizations: U.S, Capitol, Chinese Communist Party, GGV, Ventures, Qualcomm Ventures, Walden International, Wisconsin Republican, Treasury, New York Times, Qualcomm, Tiger Global Management, Tiger Global, Denglin Technology, Georgetown's Center for Security, Emerging Technology, Macquarie Group, GSR Ventures, Center for Security, Horizon Robotics, Silicon Valley, CNBC, U.S . Commerce Department, Street, Sequoia Capital, Sequoia Locations: Illinois, China, U.S, Silver, Denglin, Silicon Valley, San Francisco, Shanghai, Beijing, Singapore, Megvii, Sequoia China

☆ Stellantis inks $11bln in contracts for vital semiconductors by 2030
▼ + stars: | 2023-07-18 | by ( Nick Carey | ) www.reuters.com time to read: +1 min

LONDON, July 18 (Reuters) - Stellantis (STLAM.MI) said on Tuesday that it has signed contracts worth 10 billion euros ($11.2 billion) through 2030 with semiconductor makers to guarantee the flow of vital chips for electric vehicles and high-performance computing functions. The global auto industry is only now recovering from a pandemic-fueled shortage of semiconductor chips that forced major automakers to shut down production on certain models and scramble to find new sources of chips. "We have hundreds of very different semiconductors in our cars," Maxime Picat, Stellantis' chief purchasing and supply chain officer said in a statement. Stellantis said it is also working with chipmakers Infineon (IFXGn.DE), NXP Semiconductors (NXPI.O), onsemi (ON.O), and Qualcomm (QCOM.O) to further improve its car platforms and technologies. 3 carmaker said that its new supply agreements through 2030 cover silicon carbide chips that extend the range of EVs, computing chips to operate EVs and high-performance computing chips that will provide infotainment and autonomous driving assist functions.

Persons: Maxime Picat, Stellantis, carmaker, Nick Carey, Sharon Singleton Organizations: chipmakers Infineon, NXP Semiconductors, Qualcomm, Thomson

☆ CNBC Pro Talks: Fund manager to reveal his top tech picks, says 'big is beautiful' in the sector right now
▼ + stars: | 2023-07-18 | by ( Cnbc.Com Staff | ) www.cnbc.com time to read: +2 min

From Alphabet to Meta , Richard Clode, portfolio manager at Janus Henderson Investors, is a fan of Big Tech — but his interest in the sector goes beyond the behemoths. Clode, who manages the Horizon Global Technology Leaders Fund and the Horizon Sustainable Future Technologies Fund, will reveal how he selects stocks that he judges to be underappreciated by the market. Top holdings in his funds include chipmakers Nvidia and TSMC , payments giants Mastercard and Visa and a range of Big Tech stocks. Join CNBC Pro Talks here on Wednesday, June 19, at 1:30 p.m. SGT / 6:30 a.m. BST / 1:30 a.m. Learn more from our previous Pro Talks: This U.S. biotech stock is up 90% this year and will continue to soar, fund manager says Aging populations are creating major opportunities, fund manager says.

Persons: Richard Clode, Janus Henderson, Koulouris, Clode, Goldman Sachs Organizations: Janus Henderson Investors, Big Tech, Horizon Global Technology, Fund, Technologies Fund, Nvidia, Mastercard, Visa, Nasdaq, Global Technology, Technologies, Moore, Pioneer Investments, Pro, UBS Locations: Gartmore

☆ India's Gujarat in talks with Foxconn for its semiconductor plant
▼ + stars: | 2023-07-12 | by ( Sumit Khanna | ) www.reuters.com time to read: +2 min

AHMEDABAD, India July 12 (Reuters) - India's Gujarat state is holding talks with Foxconn over a semiconductor plant, a top government official told Reuters, days after the Taiwanese giant broke off a $19.5 billion joint-venture plan with India's Vedanta. "We are in touch with multiple prospective investors, including Foxconn ... Gujarat is uniquely positioned to attract top chipmakers," said Vijay Nehra, secretary of the science and technology department in Gujarat. Foxconn (2317.TW) this week exited its project with Vedanta (VDAN.NS), which was also planned for Prime Minister Narendra Modi's home state of Gujarat, citing issues such as slow progress. The breakup of the JV was a setback for Modi's vision to establish India as a semiconductor manufacturing hub. Its talks with Gujarat come weeks after Micron Technology (MU.O) said it will invest up to $825 million in a semiconductor testing and packaging facility in the state.

Persons: Vijay Nehra, Narendra Modi's, Foxconn, Modi, Lee, Munsif Vengattil, Aditya Kalra, Sharon Singleton Organizations: Reuters, Vedanta, JV, IGSS Ventures, ISMC, LinkedIn, Micron Technology, Thomson Locations: AHMEDABAD, India, Gujarat, ., Foxconn, Singapore

☆ New IT spending survey bodes well for 7 tech stocks in A.I. to cloud to cybersecurity
▼ + stars: | 2023-07-12 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Analysts at Morgan Stanley published the results of their second-quarter CIO survey, providing valuable insight into information technology budget expectations. Cloud and cybersecurity Digging a bit deeper, the survey reveals that cloud computing and security software remain the top two priorities for CIOs followed by artificial intelligence/machine learning. The analysts singled out Microsoft as the most exposed to the two major themes of the survey — generative AI via ChatGPT and cloud consumption via Azure. Cloud and AI enablers All of this also bodes well for the names that make cloud computing, generative AI, and LLMs possible. Importantly, the demand is not only coming from cloud service providers (CSPs) but also from enterprise players and AI startups.

Persons: Morgan Stanley, Bard, Dell, Salesforce, Jim Cramer's, Jim Cramer, Jim, Bing, Jonathan Raa Organizations: Microsoft, Google, Web Services, Club, Software, Hewlett Packard Enterprise, Palo Alto Networks, Alto, Nvidia, Devices, AMD, CNBC, Nurphoto, Getty

☆ China gallium curbs raise chip questions for future EV models
▼ + stars: | 2023-07-11 | by ( Nick Carey | ) www.reuters.com time to read: +4 min

Gallium is found in trace amounts in zinc ores and in bauxite, and gallium metal is produced when processing bauxite to make aluminium. Transphorm uses ultra thin layers of gallium nitride that are a micron, or one thousandth of a millimetre thick, on its semiconductors. "If you are already banking on gallium nitride and designing it into your platform, then you're in trouble," he said. A source at a Japanese automotive supplier told Reuters the company was weighing up whether to use gallium nitride or silicon carbide for future power semiconductors. "People have to look for other options, but gallium nitride is hard to replace, said the CMI's Neill.

Persons: Umesh Mishra, Mishra, Transphorm, Alastair Neill, Transphorm's Mishra, Neill, Nick Carey, Daniel Leussink, Christina Amann, Zoey Zhang, Matt Scuffham, David Evans Organizations: Alliance, micron, Critical Minerals Institute, Reuters, Infineon, Canada's GaN Systems, Thomson Locations: China, Goleta , California, Tokyo, Berlin, Shanghai

☆ Wall St ends higher; consumer prices, earnings eyed this week
▼ + stars: | 2023-07-10 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

That could shed light on the interest rate outlook, with many traders expecting the Federal Reserve to raise interest rates by 25 basis points this month. S&P 500 company earnings are due to unofficially kick off this week with reports from some big U.S. banks. Analysts expect earnings to have fallen 6.4% in the second quarter from the year-ago period, IBES data from Refinitiv showed. Advancing issues outnumbered decliners on the NYSE by a 2.23-to-1 ratio; on Nasdaq, a 2.06-to-1 ratio favored advancers. The S&P 500 posted 28 new 52-week highs and four new lows; the Nasdaq Composite recorded 59 new highs and 47 new lows.

Persons: Carl Icahn, Quincy Krosby, Janet Yellen, decliners, Johann M Cherian, Saumyadeb Chakrabarty, Shinjini Ganguli, Richard Chang Organizations: Dow, Nasdaq, Reserve, Financial, Intel, Qualcomm, U.S, Treasury, Dow Jones, Icahn Enterprises, Citigroup, NYSE, Thomson Locations: U.S, Charlotte , North Carolina, Refinitiv, Bengaluru

All eyes will be on U.S. inflation data, expected on Wednesday, that will feed into the Fed's interest rate decision later in the month. The second-quarter earnings season kicks off this week and investors will assess the impact of tight monetary conditions and fears of an impending economic slowdown on businesses. Overall, earnings for the S&P 500 constituents are expected to fall 5.7% in the quarter, Refintiv data showed. Most megacap growth and technology stocks slid in mid-day trading, with the FANG index (.NYFANG) falling 1.3%. Big banks such as JPMorgan Chase (JPM.N) and Citigroup (C.N) edged up, ahead of reporting earnings on Friday.

Persons: Carl Icahn, Chris Larkin, Morgan Stanley, Michael Barr, Loretta Mester, Mary Daly, Jefferies, JPMorgan Chase, Janet Yellen, Johann M Cherian, Saumyadeb Chakrabarty Organizations: Citigroup, Dow, Nasdaq, Federal Reserve, PPI, Traders, Dow Jones, JPMorgan, Icahn Enterprises, Intel, Qualcomm, U.S, Treasury, NYSE, Thomson Locations: U.S, Bengaluru

☆ Japan to give Sumco $530 mln to boost wafer capacity -Nikkei
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: 1 min

TOKYO, July 11 (Reuters) - Japan will give Sumco Corp (3436.T), a major producer of silicon wafers, a subsidy of up to 75 billion yen ($530 million) to fund additional capacity as part of efforts to bolster the country's semiconductor industry, the Nikkei newspaper reported. Sumco plans to invest 225 billion yen in factory buildings and equipment, with the subsidy from Japan's METI (Ministry of Economy, Trade and Industry) covering a third of the cost, Nikkei said. Japan has been subsidising chipmakers and suppliers, including Taiwan's TSMC (2330.TW), to reinvigorate the industry domestically and as countries extend control over a supply chain vital to key sectors. ($1 = 141.3300 yen)Reporting by Sam Nussey; Editing by Richard ChangOur Standards: The Thomson Reuters Trust Principles.

Persons: Sumco, Taiwan's TSMC, Sam Nussey, Richard Chang Organizations: Sumco Corp, Nikkei, Ministry, Economy, Trade, Industry, Thomson Locations: TOKYO, Japan

☆ China's metal export restrictions: Implications for chipmaker companies
▼ + stars: | 2023-07-07 | 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 EmailChina's metal export restrictions: Implications for chipmaker companiesHarsh Kumar, Piper Sandler managing director, joins CNBC's 'Power Lunch' to discuss why he believes not all chipmakers take a direct hit from China's curb on the rare metals used in semiconductors and more.

Persons: Harsh Kumar, Piper Sandler

VW, which relies on gallium and germanium for automotive products, said it was "ready to take measures together with its partners if necessary" but did not elaborate. The metals will play a role in future autonomous driving functions, a spokesperson for the German automaker said. Germanium is used in high-speed computer chips, plastics, and in military applications such as night-vision devices, as well as satellite imagery sensors. But if prices rise as restrictions take hold companies would have another reason to shift supply chains. NXP makes some chips for the auto and communications sectors using gallium or germanium.

Persons: Yellen, Janet Yellen, Alastair Neill, Imelda Medina, Liao Chien, Taiwan's TSMC, chipmaker, NXP, Josephine Mason, Matt Scuffham, Catherine Evans Organizations: VW, WIN, Treasury, Beijing Pentagon, Volkswagen, U.S, Critical Minerals, U.S . Defense Department, REUTERS, Capital Securities Corp, WIN Semiconductors, Reuters, Apple, Nvidia, Thomson Locations: Beijing, TAIPEI, China, Puebla, Mexico, Germany, Japan, Taiwan

Private payrolls increased more than expected in June, the ADP National Employment report showed, indicating the labor market remained strong despite growing risks of a recession from higher interest rates. Another survey showed the number of Americans filing new claims for unemployment benefits increased moderately last week. "The Fed has been hopeful to see a modest deterioration in the labor market," said Randy Frederick, managing director of trading and derivatives for Charles Schwab. "But since the ADP number was almost twice of what was expected, it generally implies there's potential for more rate hikes going forward." Reporting by Bansari Mayur Kamdar and Johann M Cherian in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: payrolls, Randy Frederick, Charles Schwab, Lorie Logan, Janet Yellen, judge's, Bansari Mayur Kamdar, Johann M, Vinay Dwivedi Organizations: Exxon, Dow, ADP, Dallas, Twitter, Dow Jones, Nasdaq, Institute for Supply, Qualcomm, Intel, Treasury, Exxon Mobil, JetBlue Airways, American Airlines, Spirit Airlines, NYSE, Thomson Locations: ., Beijing, Washington, China, U.S, Bengaluru

Most tech and growth megacaps, whose valuations come under pressure when borrowing costs rise, fell in early premarket trading, with Alphabet (GOOGL.O) and Tesla (TSLA.O) down 0.7% each. Meta Platforms (META.O) rose 1.8% after attracting millions of users within hours of launching Threads on Wednesday. After a dismal 2022, big growth and technology stocks have seen outsized gains in 2023, with the Nasdaq Composite (.IXIC) clocking its best first-half in 40 years. ET, Dow e-minis were down 139 points, or 0.4%, S&P 500 e-minis were down 19 points, or 0.42%, and Nasdaq 100 e-minis were down 69.25 points, or 0.45%. Reporting by Bansari Mayur Kamdar and Johann M Cherian in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: Janet Yellen's, judge's, Bansari Mayur Kamdar, Johann M, Vinay Dwivedi Organizations: Exxon, Dow, Nasdaq, Wall, Meta, Twitter, Victoria, Interactive Investor, Investors, Institute for Supply, Dow e, Qualcomm, Intel, Treasury, Exxon Mobil, JetBlue Airways, American Airlines, Spirit Airlines, Coty, Thomson Locations: Beijing, Washington, China, U.S, Bengaluru

☆ 4 things making it harder for Janet Yellen to repair the US-China relationship
▼ + stars: | 2023-07-06 | by ( Laura He | ) edition.cnn.com time to read: +9 min

The global economy stands to gain if Washington and Beijing can mend fences, but analysts say this appears unlikely. Here are four things likely to make it harder for Yellen to repair US-China ties, and one thing keeping the relationship going. Sequoia’s executives said in a statement that it has become “increasingly complex” to run a decentralized global investment business. On Wednesday, US pharmaceutical firm Moderna (MRNA)signed a deal to make its first major investment in China. “Both sides are ramping up commercial restrictions in the name of national security and national interests,” she said.

Persons: Janet Yellen, China, ” Wei Jianguo, ”, Anna Ashton, Biden, Beijing’s, Wei, Capvision, Xi Jinping’s, “, Li Qiang, Xi, Alex Capri, ” Ashton, —, Jennifer Hansler, Wayne Chang, Bryan Mena Organizations: Hong Kong CNN, Eurasia Group, Micron Technology, China Daily, Analysts, China, Capvision, Bain & Company, Group, Forrester Research, Ontario, Republicans, Hawks, Shanghai Cooperation Organization, Xinhua, US Commerce Department, “, National University of Singapore Business School, Moderna Locations: Hong Kong, Beijing, United States, China, Chinese, Washington, Japan, Europe, Shanghai, New York, decouple, Moscow, Ukraine, Russia, Taiwan, Tianjin

VW, which relies on gallium and germanium for automotive products, said it was "ready to take measures together with its partners if necessary" but did not elaborate. The metals will also play a role in future autonomous driving functions, a spokesperson for the German carmaker said. The export curbs are likely to further strain U.S.-China relations as the countries vie for dominance in semiconductor and defence technologies. But if prices rise as restrictions take hold companies would have another reason to shift supply chains. Chipmaker NXP Semiconductors (NXPI.O) sees no material impact on its business.

Persons: Imelda Medina, Yellen, Janet Yellen, carmaker, Liao Chien, Taiwan's TSMC, chipmaker, NXP, Josephine Mason, Catherine Evans Organizations: Volkswagen, REUTERS, VW, WIN, Treasury, Capital Securities Corp, WIN Semiconductors, Reuters, Apple, Nvidia, Thomson Locations: Puebla, Mexico, Beijing TAIWAN, China, Beijing, U.S, Germany, Japan, Taiwan

☆ South Korea wants to be a top A.I. hub — its chip dominance could be an advantage
▼ + stars: | 2023-07-06 | by ( Sheila Chiang | ) www.cnbc.com time to read: +5 min

Jung Yeon-je | Afp | Getty ImagesSouth Korea's dominance in the memory chip market and a robust artificial intelligence ecosystem gives it an advantage in the global AI chip race, said industry observers. South Korea dominating in the memory market is definitely an advantage," said James Lim, senior research analyst at Dalton Investments. "South Korea seeks to emerge as a prominent player in rapidly growing and promising areas such as AI semiconductors," said Lee. "South Korea has a robust local AI ecosystem, capable of competing with global tech giants," said Sung Nako, executive for large scale AI development at South Korean internet giant Naver. ChatGPT maker OpenAI's CEO Sam Altman had urged South Korea to lead AI chip production during his meeting with South Korean President Yoon Suk-yeol in June.

Persons: Jung Yeon, James Lim, Lee, Dylan Patel, SemiAnalysis, ., TrendForce, Sung Nako, Sam Altman, Yoon Suk, Altman, Dalton's Lim, Geoffrey Cain Organizations: Getty, Dalton Investments, CNBC, Samsung, SK Hynix South, Samsung Electronics, SK Hynix, Science, Micron, South, South Korean, Nvidia, Intel Locations: Seoul, Korea, South Korea, China, U.S

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