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Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. Nvidia's (NVDA.O) gain pushed the information technology index (.SPLRCT) higher, making it the strongest of 11 S&P 500 sector indexes. Other megacap growth stocks including Alphabet (GOOGL.O), and Amazon.com (AMZN.O) also posted gains, as did chipmaker Micron Technology (MU.O). According to preliminary data, the S&P 500 (.SPX) gained 26.28 points, or 0.59%, to end at 4,490.33 points, while the Nasdaq Composite (.IXIC) gained 143.81 points, or 1.05%, to 13,788.66. The Nasdaq and S&P 500 fell last week after hotter-than-expected U.S. producer prices data fanned concerns that the Federal Reserve could keep U.S. interest rates higher for longer.

Persons: Brendan McDermid, Tesla, Morgan Stanley, Jay Hatfield, Goldman Sachs, Alex Chriss, Amruta Khandekar, Saeed Azhar, Arun Koyyur, Maju Samuel, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, China AMC, Nasdaq, Nvidia, Micron Technology, Dow Jones, Infrastructure Capital Advisors, NVIDIA, Federal Reserve, Walmart, Traders, Fed, PayPal Holdings, Intuit, AMC Entertainment, Hawaiian Electric Industries, Thomson Locations: New York City, U.S, China, New York, Delaware, Maui, Lahaina, Bengaluru

☆ Bonds bruised, China stocks and rouble sink
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +4 min

With seasonal trading volumes so thin and the events and data diary bare today at least, there's a danger of over-interpreting recent market developments. But the backup in long-term U.S. bond yields over the past couple of weeks despite relatively unchanged expectations for Federal Reserve policy moves has clearly unsettled investors. Although 2-year Treasury yields remain below 5% and are lower than they were at midyear, 10-year Treasury yields continue to probe 9-month highs around 4.20% and the yield curve has disinverted by some 20 basis points this month as a result. China's yuan hit its lowest since June as traders look to a possible easing of 1-year interest rates on Tuesday. Events to watch for on Monday:* U.S. Treasury auctions 3-, 6-month billsReuters GraphicsReuters Graphics Reuters GraphicsReuters GraphicsReuters GraphicsBy Mike Dolan, editing by XXXX <a href="mailto:mike.dolan@thomsonreuters.com" target="_blank">mike.dolan@thomsonreuters.com</a>.

Persons: Brendan McDermid, Mike Dolan, Fitch, Goldman Sachs, Russia's Organizations: New York Stock Exchange, REUTERS, Micron Technology, Federal Reserve, United States, AAA, Treasury, . Treasury, Kremlin, Shanghai, Reuters, Thomson Locations: New York, U.S, United, midyear, China, Japan, Ukraine, Hong Kong, Asia

☆ Buffett disciple Guy Spier names the only chip stock he owns — and explains why he avoids Nvidia
▼ + stars: | 2023-08-13 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Spier, who calls himself an "ardent disciple" of legendary investor Warren Buffett, manages the $350 million Aquamarine Fund. Spier closely follows Buffett's investing principles, and the Aquamarine Fund is inspired by the original 1950s Buffett Partnership era . The only chip stock Spier owns Spier has only one chip stock in his portfolio: Micron , one of the world's largest producers of memory chips. "In memory chips, it's going to be a stable profit pool, providing something very important for all computing, which is memory. And that profit pool will be shared by the existing players, which may still consolidate even farther," Spier said.

Persons: Guy Spier doesn't, Price, it's, Spier, Warren Buffett Organizations: Nvidia —, CNBC, Nvidia, Aquamarine, Buffett, Micron

☆ SolarEdge is among the most oversold stocks in the S&P 500. Here are the others
▼ + stars: | 2023-08-12 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

Following this week's moves, CNBC Pro used FactSet data to screen for the most overbought and oversold names in the S & P 500 based on their 14-day relative strength index, or RSI. Here are some of the most oversold names: SolarEdge is one of the most oversold companies in the S & P 500. NextEra Energy had the highest number of analyst buy ratings among the stocks on the oversold list, according to CNBC's screen. Meanwhile, the following 10 stocks are the most overbought in the S & P 500: Marathon Petroleum is the most overbought stock in the broad-based index, with an RSI of 96.3. Oilfield servicer Halliburton Company , Cessna aircraft maker Textron and construction services provider Jacobs Solutions are also among the most overbought companies in the S & P 500.

Persons: Dow Jones Industrials, SolarEdge Organizations: SolarEdge Technologies, Nasdaq, Nvidia, Micron, CNBC Pro, Street, NextEra Energy, Moderna, GE Healthcare Technologies, Ameren Corporation, Enphase Energy, Marathon Petroleum, Biotech, Global Payments, Jefferies, servicer Halliburton Company, Cessna, Textron, Jacobs Solutions Locations: Florida, Cambridge , Massachusetts

☆ US investors flag retaliation risks after Biden's China tech curbs
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +4 min

But several portfolio managers said the bigger worry was whether China would strike back, as it has in the past. "It is naïve to think that there won't be some type of retaliation from China," said Tom Plumb, CEO of mutual fund Plumb Funds. China could restrict exports of rare earths used in consumer electronics, electric vehicles, and other components, or target other U.S. technology companies, Plumb said. SELF-SUFFICIENCYChina hawks in Washington say American investors have transferred capital and valuable know-how to Chinese technology companies that could help advance Beijing's military capabilities. Phillip Wool, a co-portfolio manager of Rayliant Quantamental China Equity ETF, said U.S.-China tensions were causing investors to miss out on China growth.

Persons: Florence Lo, Joe Biden's, Biden, Rick Meckler, Tom Plumb, Plumb, Michael Ashley Schulman, Phillip Wool, Shashwat Chauhan, Amruta, Chibuike Oguh, Laura Matthews, Herbert Lash, Davide Barbuscia, Michelle Price, Grant McCool Organizations: REUTERS, Cherry Lane Investments, China Exchange, Wall, Micron Technology, U.S, Funds, Reuters, Running, Capital Advisors, China Equity, Thomson Locations: China, U.S, Beijing, New Jersey, Washington, Rayliant

☆ Japan eyes tax break for domestic EV battery, chip production - Nikkei
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +1 min

Semiconductor chips are seen on a circuit board of a computer in this illustration picture taken February 25, 2022. REUTERS/Florence Lo/Illustration/File PhotoTOKYO, Aug 11 (Reuters) - Japan plans to create tax breaks for domestically-made electric vehicle (EV) batteries and semiconductors from April 2024 to enhance economic security, the Nikkei newspaper reported on Friday. For the government's fiscal 2024 tax code revision, the Ministry of Economy, Trade and Industry will propose the tax cuts for companies manufacturing strategically crucial items in Japan, Nikkei said. The ministry will draft the specifics including applicable items by end of this year, the report said. To secure supply chains for strategic goods, Japan has also unveiled billion-dollar subsidies for chipmakers such as Taiwan Semiconductor Manufacturing (2330.TW) and Micron Technology (MU.O) to build plants in Japan, and enacted the Economic Security Promotion Act last year.

Persons: Florence Lo, Akin, Kantaro Komiya, Kim Coghill Organizations: REUTERS, Nikkei, European Union, Ministry, Economy, Trade, Industry, U.S, Taiwan Semiconductor Manufacturing, Micron Technology, Economic, Thomson Locations: Japan, United States, China

☆ CNBC Pro Talks: Warren Buffett disciple Guy Spier reveals how to invest right now
▼ + stars: | 2023-08-08 | by ( ) www.cnbc.com time to read: +1 min

Join CNBC's Tanvir Gill Wednesday as she quizzes renowned value investor Guy Spier on how to play the markets right now. Spier, who calls himself an "ardent disciple" of legendary investor Warren Buffett, manages the $350 million Aquamarine Fund. Spier closely follows Buffett's investing principles, and the Aquamarine Fund is inspired by the original 1950s Buffett Partnership era . That compares to the S & P 500 's 8.2%, the MSCI World 's 6.9%, and the FTSE 100 's 3.6%. Join CNBC Pro Talks on Wednesday, August 9, at 12 p.m. BST / 7 p.m. SGT / 7 a.m.

Persons: Tanvir Gill, Guy Spier, Spier, Warren Buffett Organizations: Aquamarine, Buffett, Bank of America, Micron Technology, Ferrari, Tech, Veteran, Dow Locations: U.S

☆ 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

Visitors gather at Applied Materials and Micron Technology kiosks before the start of 'SemiconIndia 2023', India's annual semiconductor conference, in Gandhinagar, India, July 25, 2023. REUTERS/Amit DaveNEW DELHI, Aug 4 (Reuters) - Applied Materials (AMAT.O) wants its suppliers from Europe, Japan and elsewhere to set up operations in India, as the semiconductor toolmaker works to expand the local supply chain, its India head told Reuters. Applied Materials does not manufacture in India - and has no plans to - but having suppliers based locally will help its new engineering centre speed up technology development and testing. Such investment creates opportunities for Applied Materials, the world's biggest maker of tools used in manufacturing chips. Applied Materials started its India operations in 2002 and has about 7,500 employees in the country working in product development, software and other business operations.

Persons: Amit Dave NEW DELHI, Srinivas Satya, Narendra Modi's, Satya, Modi, Gary Dickerson, Munsif, Acharya, Sumit Khanna, Aditya Kalra, Christopher Cushing Organizations: Materials, Micron Technology, REUTERS, Reuters, U.S, Applied Materials, Devices, Micron, Applied, Thomson Locations: Gandhinagar, India, Europe, Japan, Bengaluru, Applied Materials India, South Korea, U.S, Gujarat, Washington, New Delhi

☆ India restricts laptop imports to boost local manufacturing
▼ + stars: | 2023-08-03 | by ( Rhea Mogul | ) edition.cnn.com time to read: +3 min

The ministry didn’t provide a reason for the change in rules, however Modi has aggressively pushed his “Make in India” campaign, which promotes local manufacturing in a bid to create more jobs. India’s electronic imports stood at $19.7 billion in the April to June period, up 6.25% from the same period in 2022, according to Reuters. Its large and young labor force makes the country a big draw for global companies seeking alternative manufacturing hubs to China. Earlier this year, India’s commerce minister, Piyush Goyal, said Apple was already making between 5% and 7% of its products in India. Foxconn, the world’s largest contract electronics maker and a key supplier to Apple, is also looking to expand its manufacturing operations in India.

Persons: Narendra Modi, Modi, Piyush Goyal, Apple, ” Organizations: CNN, Ministry of Commerce, Industry, Reuters, Apple, Samsung, Organisation for Economic Co, Micron, Vedanta Locations: India, China, Gujarat

☆ Factbox: The complexity of transforming rare earths from mine to magnet
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: +3 min

China accounts for about 60% of global rare earth mine production, but its share jumps to 85%-90% of processed rare earths and magnet output. The ore contains a small percentage of rare earths, but other minerals are removed through flotation, magnetic or electrostatic processing to produce a mixed rare earth concentrate that often contains 60% to 70% rare earths. So-called light and heavy rare earths must go through different separation circuits where individual rare earths are extracted. METALS/ALLOYSSeparated rare earth oxides or carbonates are then refined into rare earth metals. Small amounts of rare earths dysprosium and terbium are often added to create more heat resistance in the magnet.

Persons: Steve Marcus, Goldman Sachs, Eric Onstad, Susan Heavey Organizations: REUTERS, Thomson Locations: Pass , California, U.S, China

☆ Foxconn to invest $600 million in India's Karnataka to make iPhone components, chip equipment
▼ + stars: | 2023-08-02 | by ( Munsif Vengattil | Thomson Reuters | Munsif Vengattil Is A Reuters' India Technology Correspondent | ) www.reuters.com time to read: +2 min

Reuters was first to report the investment plans on Wednesday. The investment decisions follow a meeting between Foxconn Chairman Young Liu, Karnataka's IT minister Priyank Kharge, and Industries Minister MB Patil. Prime Minister Narendra Modi is also attracting investors for semiconductor manufacturing, which is his key business agenda currently. In Karnataka, Foxconn will collaborate with Applied Materials on a project for making semiconductor manufacturing equipment, and create jobs for around 1,000 people. India's Tamil Nadu state has also announced that Foxconn will invest $194 million in a new electronic components manufacturing facility that will create 6,000 jobs.

Persons: Ann Wang, Foxconn, Young Liu, Priyank Kharge, Liu, Narendra Modi, Munsif, Aditya Kalra, Himani Sarkar, Jane Merriman, Mark Potter Organizations: REUTERS, Applied Materials, Reuters, Industries, Patil, Micron, Materials, Thomson Locations: Taipei, Taiwan, BENGALURU, India's Karnataka, China, Karnataka, India, Gujarat, Tamil Nadu, Bengaluru

[1/2] FILE PHOTO-A smartphone with a displayed AMD logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File PhotoGANDHINAGAR, India, July 28 (Reuters) - U.S. chipmaker Advanced Micro Devices (AMD.O) said on Friday it will invest around $400 million in India over the next five years and will build its largest design center in the tech hub of Bengaluru. Despite being a late entrant, the Modi government has been courting investments into India's nascent chip sector to establish its credentials as a chipmaking hub. "Our India teams will continue to play a pivotal role in delivering the high-performance and adaptive solutions that support AMD customers worldwide," Papermaster said. Unlike its top rival Intel, AMD outsources production of chips it designs to third-party manufacturers like Taiwan's TSMC.

Persons: Dado Ruvic, Mark Papermaster, Narendra Modi's, Young Liu, Sanjay Mehrotra, Modi, Papermaster, Munsif, Aditya Kalra, Sonali Paul Organizations: REUTERS, Devices, Micron, AMD, India, Nvidia Corp, Intel, South, Samsung, Applied, chipmaker Micron, Thomson Locations: GANDHINAGAR, India, Bengaluru, Gujarat, Santa Clara , California, U.S, Gandhinagar

☆ Chipmakers signal supply glut easing but demand recovery still slow
▼ + stars: | 2023-07-28 | by ( Joyce Lee | ) www.reuters.com time to read: +5 min

"Demand is recovering very gradually," Woohyun Kim, chief financial officer at SK Hynix, said on an earnings call this week. "The recent improvement in PC shipments has been mainly led by promotions and low-end models, meaning it provided limited impact on chip demand recovery," he said, adding that shipment forecasts for PCs and smartphones this year have been downgraded from earlier predictions. Chipmakers are also increasing production of the high-end chips used to support AI related chips. SK Hynix said demand for AI server memory had more than doubled in the second quarter compared to the first quarter. The company leads the market in high bandwidth memory (HBM) DRAM used in generative AI.

Persons: Florence Lo, Canalys, Woohyun Kim, ChatGPT, Pat Gelsinger, SK Hynix, Logan Purk, Edward Jones, Lam, Tim Archer, 1,278.7400, Joyce Lee, Akash Sriram, Akshita, Chavi Mehta, Tanya Jain, Max A, Cheney, Stephen Nellis, Miyoung Kim, Miral Organizations: REUTERS, Intel, Samsung, SK Hynix, SK, chipmaker Texas, Wall, Manufacturers, KLA Corp, Lam Research, Thomson Locations: SEOUL, China, HBM, Seoul, Bengaluru, Max, San Francisco

☆ How the world went from a semiconductor shortage to a major glut
▼ + stars: | 2023-07-28 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

The glut came after companies began to stockpile chips amid the shortage to build up inventories. From profit boost to income plungeThe pandemic-induced shortage of semiconductors helped boost chip makers' profits as prices jumped. Meanwhile, SK Hynix swung to a loss in the second quarter versus a profit in the same period last year. Taiwan Semiconductor Manufacturing Company, the world's largest chipmaker, said last week that net income for the second quarter fell 23.3% from a year ago. Looking ahead, the PC market appears weak, which is likely to impact Samsung, SK Hynix and Micron.

Persons: Wong Yu Liang, Peter Hanbury, Hanbury, Sze Ho Ng Organizations: Bain & Company, CNBC, Samsung, SK Hynix, Micron, Taiwan Semiconductor Manufacturing Company, China Renaissance Securities Locations: oversupply

☆ Silicon Power to invest $121.7 mln for silicon carbide plant in India's Odisha state
▼ + stars: | 2023-07-28 | by ( ) www.reuters.com time to read: +1 min

BHUBANESWAR, July 28 (Reuters) - U.S.-based Silicon Power Group will invest 10 billion rupees ($121.73 million) to set up a facility in India's Odisha state to make 150 millimetre silicon carbide, a semiconductor component, the state's chief minister's office said late Thursday. The investment will be made by the group's Indian unit, RiR Power Electronics, and the company has committed to start operations in the next 18 to 24 months, the chief minister's office said in a statement. Silicon carbide is a component that goes into chips used in electric cars and other industrial power and energy applications. The move comes as top executives from Foxconn and semiconductor firms Micron and AMD are set to attend a conference in Prime Minister Narendra Modi's home state of Gujarat, an effort by the federal government to lure investments. ($1 = 82.1500 Indian rupees)Reporting by Jatindra Dash in Bhubaneswar, writing by Manvi Pant; editing by Eileen SorengOur Standards: The Thomson Reuters Trust Principles.

Persons: Narendra Modi's, Jatindra, Manvi Pant, Eileen Soreng Organizations: Power, Power Electronics, Micron, AMD, Thomson Locations: BHUBANESWAR, India's Odisha, Gujarat, India, Taiwan, Bhubaneswar

☆ These are the states in America that are the least prepared for extreme weather
▼ + stars: | 2023-07-28 | by ( Scott Cohn | ) www.cnbc.com time to read: +11 min

Some states are in good shape to handle whatever the climate throws at them, but these are the states most at risk. 2023 Infrastructure score: 228 out of 390 points (Top States grade: B) Climate Extremes Index: 21.16% Properties at risk: 45.2% Renewable energy: 10.6%9. 2023 Infrastructure score: 165 out of 390 points (Top States grade: D) Climate Extremes Index: 8.7% Properties at risk: 2.8% Renewable energy: 12%8. Connecticut is home to the nation's first "green bank," which uses public dollars to leverage private investment in renewable energy. 2023 Infrastructure score: 227 out of 390 points (Top States grade: B) Climate Extremes Index: 21.16% Properties at risk: 61% Renewable energy: 12.5%1.

Persons: Jeremy Porter, York Snow, Joed Viera, Kelly Giddens, Daniel Hinton, Jessica Mcgowan, wades, Tim Boyle, Tony Evers, Scott Olson, Josh Edelson, Gavin Newsom, —, Marcellus, Tom Wolf, Josh Shapiro, Ida, Brendan McDermid, Hurricane Ida, Richard Bunting, Alex Hamilton, Hurricane Irene, Mark Wilson, Joe Biden's, Ted Shaffrey, Hurricane Nicole, Paul Hennessy, Marco Bello Organizations: Street Foundation, CNBC, Business, First, Oceanic, Atmospheric Administration, NOAA, U.S, Department of Energy, Afp, Getty, National Weather Service, Micron Technology, Alabama, University of Alabama, Illinois —, Badger State, Gov, Carolina, Carolinas, AFP, EQT Corp, Bloomberg, Reuters, Garden, State, Anadolu Agency, Sunshine State, Farmers Insurance, AAA Locations: States, York, Buffalo , New York, Empire, New York, Syracuse, Alabama TUSCALOOSA, AL, Cedar, Tuscaloosa , Alabama, Texas, Oklahoma, Alabama, Gulf, Wisconsin, Prairie du Chien , WI, Hurricane, Charleston , South Carolina, Florida, Georgetown , South Carolina, South Carolina, California, Oroville, Oroville , California, , California, Pennsylvania, Washington Township , Pennsylvania, U.S, Jersey, Oakwood, Elizabeth , New Jersey, Garden State , New Jersey, New Jersey, Delaware, Lewes , Delaware, Rhode, Connecticut, New Haven , Connecticut, Wilbur, , Florida, Louisiana, Kenner , Louisiana

☆ These are the 10 American states that are the most prepared for extreme weather
▼ + stars: | 2023-07-28 | by ( Scott Cohn | ) www.cnbc.com time to read: +9 min

But NOAA puts the Ohio Valley at the low end of its Climate Extremes Index, which considers temperatures, precipitation, drought and hurricanes. 2023 Infrastructure score: 205 out of 390 points (Top States grade: C+) Climate Extremes Index: 8.7% Properties at risk: 2.1% Renewable energy: 12.3%8. 2023 Infrastructure score: 231 out of 390 points (Top States grade: B) Climate Extremes Index: 23.68% Properties at risk: 4.2% Renewable energy: 42.5%5. 2023 Infrastructure score: 254 out of 390 points (Top States grade: A-) Climate Extremes Index: 8.7% Properties at risk: 2.7% Renewable energy: 34.6%2. 2023 Infrastructure score: 193 out of 390 points (Top States grade: C) Climate Extremes Index: 19.78% Properties at risk: 9% Renewable energy: 84%1.

Persons: Jeremy Porter, they're, Porter, John Boyd , Jr, Seth Herald, Joe Biden, Adam J, Brian Snyder, Jim Mracek, Andrew Lichtenstein, Helen H, Richardson, Marshall, Jewel Samad, James McGath, Cole Ruud, Nicole Neri, Scott Olson, Biden, Daniel Acker Organizations: Street Foundation, The Boyd Company, Micron, CNBC, First, Atmospheric Administration, U.S . Department of Energy, Tennessee, NOAA, Seth, AFP, Getty, Volunteer State, Michigan, Dewey, Anadolu Agency, Great, Great Lakes State, FEMA, Green, Nebraska, Corbis, Cornhusker, Colorado Firefighters, National Center for Atmospheric Research, Denver Post, Centennial, Kansas, Oklahoma Electric, Sooner State, Energy Department, Washington Post, North Star State, Mount, Iowa, Bloomberg Locations: New York, States, Memphis , Tennessee, Tennessee, Ohio, Royal Oak, MI, Metro Detroit, Royal Oak , Michigan, United States, Great Lakes, Michigan, Vermont, Montpelier , Vermont, Nebraska, Cass County, Boulder , Colorado, Colorado, Dodge City , Kansas, Kansas, Moore , Oklahoma, Sooner, Oklahoma, Minnesota, Stillwater, Stillwater , Minnesota, St, Croix, Dakota, Salem , South Dakota, Mount Rushmore, South Dakota, Gowrie , Iowa, U.S

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

☆ 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

☆ Samsung reports 95% drop in profit, but expects global demand to recover in second half of the year
▼ + stars: | 2023-07-27 | by ( Sheila Chiang | ) www.cnbc.com time to read: +4 min

A Samsung Galaxy Z Fold 5 smartphone, left, a Galaxy Z Flip 5 smartphone during the Galaxy Unpacked event in Seoul, South Korea, on Wednesday, July 26, 2023. Both DRAM and NAND flash memory chips also saw "more limited price drops" which improved second-quarter performance, compared with the first quarter, Samsung said. Weak electronics demandSamsung said that overall mobile phone market demand declined from the first quarter due to continued macroeconomic challenges such as inflation. Inflation has led to consumers cutting back on purchases of these goods, driving down prices for memory chips. Focus on premium foldable phonesSamsung said it will focus on the newly launched high-end Galaxy Z Flip 5 and Galaxy Z Fold 5 series to cement its leading position in the global foldable smartphone market.

Persons: SeongJoon Cho, Nabila Popal, Bryan Ma Organizations: Samsung, Galaxy, Apple Inc, Bloomberg, Getty, International Data Corporation, Micron, SK Hynix, IDC Locations: Seoul, South Korea, China

☆ KLA expects first-quarter revenue above estimates on AI boom
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: +2 min

July 27 (Reuters) - Chip-making tools maker KLA Corp (KLAC.O) forecast first-quarter revenue and profit above Wall Street estimates on Thursday, boosted by higher investments in artificial intelligence (AI), sending its shares up nearly 3% after the bell. KLA makes tools for inspecting the silicon wafer discs, on which semiconductors are built, for defects. The company, forecast first-quarter adjusted profit of $5.35 per share, plus or minus 60 cents. In the quarter ended June 30, revenue came in at $2.36 bln while adjusted profit was $5.40 per share. That compared with analysts' estimate for revenue of $2.26 bln and adjusted profit of $4.85.

Persons: OpenAI's ChatGPT, Bren Higgins, Akash Sriram, Akshita Toshniwal, Tanya Jain, Max A, Arun Koyyur, Cynthia Osterman Organizations: KLA Corp, Wall, Companies, Intel, Samsung, Texas Instruments, Micron, North, Thomson Locations: China, United States, Taiwan, North America, Bengaluru, San Francisco

Meta Platforms (META.O) gained 8.6% in premarket trading after it also reported a jump in second-quarter advertising revenue, topping Wall Street financial targets. Outsized gains in megacap growth stocks has helped Nasdaq (.IXIC) lead the charge on Wall Street so far this year, but Dow (.DJI) is catching up as investors bet on sectors beyond technology. ET, Dow e-minis were up 48 points, or 0.13%, S&P 500 e-minis were up 26 points, or 0.57%, and Nasdaq 100 e-minis were up 186 points, or 1.19%. Southwest Airlines (LUV.N) tumbled 6.9% after the airline warned of higher labor costs for the year and posted a dip in second-quarter profit. Reporting by Bansari Mayur Kamdar and Johann M Cherian in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: FEDWATCH, Jerome Powell, Powell, David Mericle, Goldman Sachs, Bansari Mayur Kamdar, Johann M, Shinjini Organizations: Netflix, Microsoft, Dow, Nasdaq, Wall, U.S, U.S . Federal, Meta, Facebook, U.S . Federal Reserve, Commerce Department, Dow e, EBay, Nvidia, Micron, Marvell Technology, Lam Research, Citigroup, Bank of America, Southwest Airlines, Thomson Locations: U.S ., U.S, Wells Fargo, Bengaluru

In particular, memory chip demand from corporate buyers stocking AI data centres as well as gaming personal computers is expected to increase in the second half of the year, the world's second-biggest memory chip maker said. SK Hynix reported a 2.9 trillion won ($2.28 billion) operating loss in the June quarter, down from 4.2 trillion won profit a year earlier on weak memory chip pricing and demand. AI CHIPSSK Hynix said demand for AI server memory had more than doubled in the second quarter compared to the first quarter. SK Hynix leads the market in high bandwidth memory (HBM) DRAM used in the fast-growing field of generative AI. Samsung, the world's biggest memory chip maker, will report its detailed second-quarter financial results on Thursday.

Persons: SK Hynix, Greg Roh, Nam Dae, 1,274.1300, Joyce Lee, Heekyong Yang, Christopher Cushing, Jamie Freed Organizations: Korea's SK Hynix, Microsoft, SK Hynix's, SK, SK Hynix, Revenue, Samsung Electronics, Hyundai Motor Securities, eBEST Investment, Securities, Samsung, Thomson Locations: SEOUL, KS, HBM

☆ Maxlinear scraps nearly $4 bln deal for Taiwan's Silicon Motion
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +1 min

July 26 (Reuters) - U.S. chipmaker Maxlinear (MXL.O) said on Wednesday it has scrapped a near $4 billion deal to acquire Taiwan-based Silicon Motion . MaxLinear had agreed to buy the memory controller-maker Silicon Motion in May last year in a cash-and-stock deal worth $4 billion. Memory controllers are used to manage data in memory chips. NAND flash memory chips do not need power to retain data and are used in smartphones, personal computers and data center servers. MaxLinear was to pay $93.54 in cash and about 0.4 of its share for each Silicon Motion's American depositary shares, representing a total consideration of $114.34 per ADS.

Persons: chipmaker, MaxLinear, Akash Sriram, Chavi Mehta Organizations: Kioxia, Micron Technology, Samsung, SK Hynix, Western, Silicon, Thomson Locations: Taiwan, U.S, Bengaluru

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