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☆ China says it told the U.S. and Europe about the export controls in advance
▼ + stars: | 2023-07-06 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — China's Ministry of Commerce said Thursday the country told the U.S. and Europe about this week's export controls in advance. China did so through "export control dialogue channels," commerce ministry spokesperson Shu Jueting said in Mandarin, translated by CNBC. The commerce ministry announced Monday that starting Aug. 1 China would restrict exports of gallium and germanium — two metals used in semiconductor manufacturing. That means companies in China need to apply for licenses in order to export the metals. Spokesperson Shu said the ministry had yet to receive any applications for export licenses, and noted the rules don't take effect until Aug. 1.

Persons: Shu Jueting, Shu Organizations: BEIJING — China's Ministry of Commerce, CNBC Locations: China, BEIJING, U.S, Europe

☆ TSMC does not expect direct production impact from China's metal export curbs
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +2 min

TAIPEI, July 6 (Reuters) - Taiwan's TSMC (2330.TW), the world's largest contract chipmaker, said on Thursday it does not expect any direct impact on its production from China's decision to restrict exports of two metals widely used in semiconductors and electric vehicles. That followed the U.S. decision to impose export restrictions to curb China's access to key technologies used for artificial intelligence. "After evaluation, we do not expect the export restrictions on raw materials gallium and germanium will have any direct impact on TSMC's production," Taiwan Semiconductor Manufacturing Co said in an emailed statement. China's restrictions will have a very limited impact on the company's short-term procurement and wafer production and delivery, WIN added. Visual Photonics Epitaxy said it had noticed little effect so far from China's export restrictions.

Persons: TSMC, chipmaker, Janet Yellen's, Yellen, Liao Chien, Ben Blanchard, Roger Tung, Tom Hogue, Jamie Freed Organizations: Apple, Nvidia, Taiwan Semiconductor Manufacturing, Treasury, Capital Securities Corp, WIN Semiconductors, Reuters, WIN, Visual Photonics, Photonics, Thomson Locations: TAIPEI, Beijing, U.S, Taiwan, Taipei, China, Germany, Japan

☆ Chinese companies rush for hedging as market volatilities spike
▼ + stars: | 2023-07-05 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, July 5 (Reuters) - Chinese listed firms are embracing hedging at a record pace, according to consultancy data, as market volatility rises and China grows its derivative market. Forex hedging is popular among Chinese companies, according to D-Union, as regulators allow market forces to play a bigger role in deciding the yuan's value. Companies including Semiconductor Manufacturing Electronics (Shaoxing) Corp (688469.SS) and liquor giant Luzhou Laojiao Co Ltd (000568.SZ) announced plans in the second quarter to hedge against forex risks. Measures to develop China's derivative market also boosted interest in hedging, Ma said. Electronics, basic chemicals, and electrical equipment were among sectors that were most active in hedging during the second quarter, according to D-Union data.

Persons: Ma Weifeng, Ma, Li Gu, Samuel Shen, Tom Westbrook, Gerry Doyle Organizations: greenback, Semiconductor Manufacturing Electronics, Electronics, Sieyuan Electric Co Ltd, Thomson Locations: SHANGHAI, China, Shanghai, Shenzhen, Singapore

☆ SBI Holdings to help Taiwan's Powerchip build a plant in Japan
▼ + stars: | 2023-07-05 | by ( ) www.reuters.com time to read: +2 min

TOKYO, July 5 (Reuters) - Financial firm SBI Holdings (8473.T) said on Wednesday it would help Taiwan's Powerchip Semiconductor Manufacturing Corp (6770.TW) establish a factory in Japan as the country looks to revive its chip industry. "This is the best possible time to enter chip manufacturing," Kitao said at a joint press conference with the Taiwanese company's chairman, Frank Huang. Powerchip is currently looking at three or four potential sites and manufacturing could begin two years after construction starts, Kitao added. Japan is also funding a homegrown venture, Rapidus, which says it plans to produce advanced logic chips from the middle of the decade with help from IBM Corp (IBM.N). Powerchip provides contract manufacturing services for logic and memory chips for power management to customers including MediaTek Inc (2454.TW), Taiwan's largest designer of mobile phone chips.

Persons: Yoshitaka Kitao, Kitao, Frank Huang, Powerchip, Miho Uranaka, Tim Kelly, Christopher Cushing, Jamie Freed, Louise Heavens Organizations: Financial, SBI Holdings, Semiconductor Manufacturing Corp, SBI, Taiwan Semiconductor Manufacturing, Sony Group, Denso Corp, Kioxia Corp, Western Digital Corp, chipmaker Micron Technology, IBM Corp, MediaTek Inc, Thomson Locations: TOKYO, Japan, Kumamoto prefecture, Hiroshima

☆ CNBC Daily Open: The sun rises on Japan
▼ + stars: | 2023-07-05 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Philip Fong | Afp | 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. What you need to know todayU.S. markets on holidayU.S. markets were closed yesterday for the Fourth of July holiday, while futures were little changed on Tuesday night. Inflation exceptionalismThe U.K. is the only G7 country where inflation is still rising, according to data from the Organization for Economic Cooperation and Development. The sky's the limitAround 30% of the flights operated by U.S. airlines were delayed between June 24 through July 2.

Persons: Philip Fong, Abu Dhabi's, Xi Jinping, aren't, Niño, El Niño Organizations: Tokyo, Mount, Afp, Getty, CNBC, Organization for Economic Cooperation, Development, U.S, aren't fazed, World Meteorological Organization Locations: Mount Fuji, Ichikawa city, Chiba prefecture, Tokyo, China, Beijing, U.S

☆ India can aim lower in its chip dreams
▼ + stars: | 2023-07-05 | by ( Pranav Kiran | ) www.reuters.com time to read: +3 min

BENGALURU, July 5 (Reuters Breakingviews) - India’s semiconductor dreams are facing a harsh reality. After struggling to woo cutting-edge chipmakers like Taiwan Semiconductor Manufacturing (2330.TW) to set up operations in the country, the government may now have to settle for producing less-advanced chips instead. Prime Minister Narendra Modi wants to “usher in a new era of electronics manufacturing” by turning India into a chipmaking powerhouse. Mining conglomerate Vedanta’s $19.5 billion joint venture with iPhone supplier Foxconn (2317.TW) has stalled; plans for a separate $3 billion manufacturing facility appear to be in limbo, Reuters reported in May. Aiming lower could be just what India’s chip ambitions need.

Persons: Narendra Modi, China's, It’s, Ashwini, Robyn Mak, Thomas Shum Organizations: Reuters, Taiwan Semiconductor Manufacturing, Micron Technology, Micron, Taiwan’s, Zion Market Research, Semiconductor Industry Association, Financial, Thomson Locations: BENGALURU, China, India, U.S, Gujarat, Zion, , New Delhi, Taiwan, Washington, Beijing

☆ TSMC founder: Globalisation in technology takes backseat to national priorities
▼ + stars: | 2023-07-04 | by ( Sarah Wu | ) www.reuters.com time to read: +2 min

TAIPEI, July 4 (Reuters) - Globalisation is taking a backseat to priorities such as national security and technological leadership, with U.S.-China relations consisting more of competition than cooperation, the retired founder of Taiwanese chipmaker TSMC said on Tuesday. He has previously declared that globalisation in the chip sector dead. TSMC, Asia's most valuable listed company, is referred to in Taiwan as the "sacred mountain protecting the country" because of its economic importance. While TSMC has said its most advanced manufacturing will remain on the island, the company has ramped up expansion abroad in recent years. Beijing views democratically governed Taiwan as its own territory, a claim the government in Taipei strongly rejects.

Persons: chipmaker TSMC, Morris Chang, Chang, TSMC, Sarah Wu, Tom Hogue Organizations: U.S, Taiwan Semiconductor Manufacturing Co, Apple, Taiwan, Thomson Locations: TAIPEI, China, Taipei, Beijing, United States, Taiwan

☆ CNBC Daily Open: Tesla booms in a quiet market
▼ + stars: | 2023-07-04 | 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. Asia-Pacific markets traded mixed Tuesday. [PRO] Weight loss, stock gainA new class of weight loss drugs will be hitting the U.S. soon. With more than two-thirds of adults in the U.S. having obesity, that's a potentially large market for pharmaceutical companies.

Organizations: CNBC, U.S, country's Ministry of Commerce Locations: Asia, Pacific, China, U.S

☆ Samsung’s A.I. Moment Is Here, but Is It Ready?
▼ + stars: | 2023-07-04 | by ( Chang Che | ) www.nytimes.com time to read: +1 min

The introduction of ChatGPT has lit a fire under the shares of companies that produce microchips, the brains of artificial intelligence. Bets on the potential of so-called generative A.I. Samsung Electronics, the South Korean giant, is hoping to get in on the action. At an event in California last week, Samsung detailed what it called its “vision in the A.I. era.” Samsung believes it can snatch market share from the leading chip manufacturer, Taiwan Semiconductor Manufacturing Company, but recently the trend has gone the other way.

Persons: Samsung, TSMC Organizations: Nvidia, Samsung Electronics, Samsung, Taiwan Semiconductor Manufacturing Company, Counterpoint Research Locations: Hong Kong, California, TSMC

☆ Dutch foreign ministry: EU will respond to new Chinese export rules
▼ + stars: | 2023-07-04 | by ( ) www.reuters.com time to read: +1 min

AMSTERDAM, July 4 (Reuters) - The European Union must respond to new rules introduced by China requiring a license to export two metals widely used in semiconductor manufacturing, the Dutch government said on Tuesday. The Netherlands on Friday introduced new rules requiring a license to export chipmaking equipment made by ASML (ASML.AS), the Netherlands' largest company. "To what extent this will have consequences for the European and Dutch economy will depend on how China carries it out," the Dutch Foreign Ministry said in a statement. "Given the authority that the European Union has in trade policy, it's primarily up to the EU to address China about these measures." The Dutch foreign minister will "keep in close contact with the European Commission and other EU member states about this," the statement said.

Persons: it's, Toby Sterling, Richard Chang Organizations: European, U.S, Dutch Foreign Ministry, European Union, EU, European Commission, Thomson Locations: AMSTERDAM, China, Netherlands, Hague, Beijing

☆ Chipmaker TSMC says supplier targeted in cyberattack
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +1 min

June 30 (Reuters) - Taiwan Semiconductor Manufacturing Co (2330.TW) said on Friday that a cybersecurity incident involving one of its IT hardware suppliers has led to the leak of the vendor's company data. "TSMC has recently been aware that one of our IT hardware suppliers experienced a cybersecurity incident which led to the leak of information pertinent to server initial setup and configuration," the company said. TMSC confirmed in a statement to Reuters that its business operations or customer information were not affected following the cybersecurity incident at its supplier Kinmax. The TSMC vendor breach is part of a larger trend of significant security incidents affecting various companies and government entities. TSMC said it has cut off data exchange with the affected supplier following the incident.

Persons: TSMC, TMSC, Akriti Sharma, James Pearson, Shailesh Organizations: Taiwan Semiconductor Manufacturing, Thomson Locations: U.S

☆ Netherlands, home to a critical chip firm, follows U.S. with export curbs on semiconductor tools
▼ + stars: | 2023-06-30 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

The U.S. has been putting pressure on the Netherlands to block exports to China of high-tech semiconductor equipment. Susan Walsh | AFP | Getty ImagesThe Netherlands on Friday announced new export restrictions on advanced semiconductor equipment amid U.S. pressure to cut China off from key chipmaking tools. Since then, the U.S. has been ramping up pressure on key chipmaking nations and allies like the Netherlands and Japan, to introduce export restrictions of their own. The Dutch government was on the fence but in March laid out restrictions on the export of advanced semiconductor equipment. This will give them the time they need to adapt to the new rules," Dutch Trade Minister Liesje Schreinemacher said in a statement.

Persons: Mark Rutte, Joe Biden, Susan Walsh, hobble, Liesje Schreinemacher, ASML Organizations: AFP, Getty, Friday, Companies, Washington, Trade Locations: Netherlands, U.S, China, ASML, Japan

☆ U.S., Dutch set to hit China's chipmakers with one-two punch
▼ + stars: | 2023-06-29 | by ( ) www.cnbc.com time to read: +4 min

Japan, home to chip equipment makers Nikon and Tokyo Electron , has since adopted rules to restrict exports of 23 types of semiconductor manufacturing equipment that will take effect July 23. ASML said in March it expects the Dutch regulations to affect its TWINSCAN NXT:2000i and more sophisticated models. But the company's older DUV models, like one called the TWINSCAN NXT:1980Di, could also be kept from about six Chinese facilities by the U.S. The new Dutch regulations will not take effect immediately, sources said, with one person expecting the effective date to be September, two months after publication. ASML is Europe's largest chip equipment company due to its dominance in lithography, one of the central steps in the computer chip making process.

Persons: Mark Rutte, Joe Biden, Liu Pengyu, ASML Organizations: . Commerce Department, Lam Research, Materials, Embassy, Nikon, Tokyo, U.S, SMIC, International Locations: Netherlands, U.S, China, United States, Washington, Japan, ASML'S, Almere

☆ TSMC sending more workers to speed up building of new Arizona plant
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +2 min

[1/2] U.S. President Joe Biden speaks with Chairman of TSMC Mark Liu during a visit to TSMC AZ's first Fab (Semiconductor Fabrication Plant) in P1A (Phase 1A), in Phoenix, Arizona, U.S. December 6, 2022. The first Arizona chip fabrication facility, or fab, is scheduled to be operational by 2024. TSMC did not disclose how many workers from Taiwan are currently in Arizona. The additions will not impact the 12,000 workers currently on-site every day or U.S.-based hiring, it added. While TSMC has said the bulk of its manufacturing, especially of the most advanced chips, will remain in Taiwan, it is also building a plant in Japan and considering another one in Germany.

Persons: Joe Biden, Mark Liu, TSMC, Jonathan Ernst, Biden, Ben Blanchard, Edwina Gibbs Organizations: REUTERS, Taiwan Semiconductor Manufacturing Co, Apple Inc, Nvidia Corp, TSMC's, Thomson Locations: P1A, Phoenix , Arizona, U.S, TAIPEI, Taiwan, ., Arizona, Japan, Germany, TSMC's Taipei

☆ Republicans’ Problem in Attacking Biden: They Helped Pass His Economic Bills
▼ + stars: | 2023-06-29 | by ( Jonathan Weisman | Reid J. Epstein | ) www.nytimes.com time to read: +1 min

President Biden isn’t the only one doing a full summer embrace of federal spending on infrastructure and semiconductor manufacturing — so are some of the Republicans aiming to remove him from office next year. The White House has labeled the president’s new economic campaign Bidenomics, a portmanteau that until now has been a pejorative used by Republicans and conservative news outlets primarily to underscore inflation. But in a speech on Wednesday in Chicago about the economy, Mr. Biden latched on, with a renewed focus on the two most significant bipartisan legislative accomplishments of his term, the infrastructure bill and the CHIPS and Science Act. One significant benefit for Mr. Biden: Republicans helped pass those bills. presidential candidates and the Republican National Committee continue to paint Mr. Biden’s economic stewardship as a rolling disaster, Republican senators who helped shape the legislation say they anticipated that those accomplishments would accrue to Mr. Biden’s political advantage — as well as to their own.

Persons: Biden isn’t, Biden Organizations: Mr, Republican National Committee Locations: Chicago

☆ Exclusive: US, Dutch set to hit China's chipmakers with one-two punch
▼ + stars: | 2023-06-29 | by ( Karen Freifeld | ) www.reuters.com time to read: +4 min

ASML said in March it expects the Dutch regulations to affect its TWINSCAN NXT:2000i and more sophisticated models. But the company's older DUV models, like one called the TWINSCAN NXT:1980Di, could also be kept from about six Chinese facilities by the U.S. The new Dutch regulations will not take effect immediately, sources said, with one person expecting the effective date to be September, two months after publication. ASML is Europe's largest chip equipment company due to its dominance in lithography, one of the central steps in the computer chip making process. Other companies that could be impacted by the new Dutch rules include atomic layer deposition firm ASM International.

Persons: Liu Pengyu, ASML, Karen Freifeld, Toby Sterling, Anna Driver, Stephen Coates Organizations: . Commerce Department, Lam Research, Materials, Embassy, Nikon Corp, Tokyo Electron, U.S, SMIC, International, Thomson Locations: United States, Netherlands, U.S, China, Washington, Japan, ASML'S, Almere, Amsterdam

HONG KONG, June 27 (Reuters Breakingviews) - A government-led buyout signals more uncertainty ahead for a chip industry grappling with oversupply and geopolitics. The state-backed Japan Investment Corp will take over JSR (4185.T), which makes light-sensitive chemicals vital to manufacturing semiconductors, among other things. In recent years, the conglomerate has pivoted from a low-margin business of selling synthetic rubber used to make tyres to focus on semiconductor materials - primarily photoresists - and biopharmaceuticals. Yet JIC's mandate to boost the country’s global competitiveness and its focus on consolidating industries helps to justify the hefty premium. Either way, the government's focus on elevating national chipmaking champions creates fresh uncertainty for JSR's foreign customers like South Korea's Samsung Electronics (005930.KS) and Taiwan Semiconductor Manufacturing (2330.TW).

Persons: Sharp, Eric Johnson, Una Galani, Thomas Shum Organizations: Reuters, Japan Investment Corp, Renesas Electronics, chipmakers, Samsung Electronics, Taiwan Semiconductor Manufacturing, Japan Investment Corporation, Mizuho Bank, Development Bank of Japan, Thomson Locations: HONG KONG, Tokyo, Taiwan, Japan, United States, South Korea, South

☆ China slams the West for 'hyping up' the concept of 'de-risking.' Here's what it means and why China is so worried.
▼ + stars: | 2023-06-27 | by ( Spriha Srivastava | ) www.businessinsider.com time to read: +4 min

The US-China trade war has impacted manufacturing exports, particularly in the semiconductor industry. Opening Plenary with Li Qiang, Premier of the People's Republic of China World Economic Forum/Benedikt von LoebellWhy does de-risking matter? According to the Peterson Institute for International Economics, the trade war of 2018-19 devastated US exports to China. A big sticking point for the two nations is the US manufacturing exports to China. "Prior to the trade war, manufacturing was 44 percent of total US goods and services exports to China — the largest component of pre-trade war commerce.

Persons: Li Qiang, Li, —, Ursula von der Leyen, Benedikt von Loebell, Trump, Morgan, JP Morgan Organizations: Service, European, Economic, Peterson Institute for International Economics, Peterson Institute, Semiconductor Industry Association Locations: China, West, Davos, Tianjin, decouple, People's Republic of China, China —, East Asia, Taiwan, South Korea

☆ Dutch human rights body: ASML may follow US export rules when hiring
▼ + stars: | 2023-06-26 | by ( ) www.reuters.com time to read: +2 min

AMSTERDAM, June 26 (Reuters) - Dutch computer chip equipment maker ASML (ASML.AS) may refuse job applicants on the basis of their nationality when required to do so by U.S. export rules, a Dutch human rights body has found. ASML, based in Veldhoven, Netherlands, has significant operations in the U.S. and makes equipment used in semiconductor manufacturing. Export Administration Regulations (EAR) "although not originating from the Dutch legislator, are indeed binding for ASML," the institute said. A Rotterdam-based anti-discrimination foundation had filed a complaint over ASML's hiring practices, arguing that Dutch law does not permit discrimination on the basis of nationality. Those categories include Iran, Syria, North Korea and Cuba, but also about 20 other countries considered a national security threat to the U.S., including China and Russia.

Persons: ASML, Toby Sterling, Matthew Lewis Organizations: Institute for Human Rights, U.S, . Export Administration, U.S . Commerce Department's, Thomson Locations: AMSTERDAM, U.S, Netherlands, Iran, Syria, Cuba, North Korea, Veldhoven, Rotterdam, China, Russia, Amsterdam

☆ Japan-backed fund to buy critical semiconductor firm JSR for $6.3 billion as chip tensions rise
▼ + stars: | 2023-06-26 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

The Japanese Investment Corporation (JIC) proposed a $6.3 billion buyout of JSR, one of Japan's most critical chip firms. The Japanese Investment Corporation proposed an offer of 4,350 Japanese yen ($30.3) per share to buy JSR, marking a 35% premium to Friday's closing price. A fund backed by the Japanese government on Monday proposed a $6.3 billion acquisition of semiconductor material giant JSR , underscoring the strategic emphasis governments around the world are putting on the critical technology of chips. Countries such as the Netherlands, home to a critical chip firm called ASML, as well as Japan, followed suit with similar restrictions. "JIC's investment in JSR means that the government might have a higher say over its decisions," Kotasthane said.

Persons: JIC, Kotasthane Organizations: Japanese Investment Corporation, JSR, Takshashila, CNBC, U.S Locations: Japan, China, Netherlands

☆ Factbox: Japan ramps up efforts to strengthen its chip industry
▼ + stars: | 2023-06-26 | by ( ) www.reuters.com time to read: +4 min

Below are investments in Japan announced by chipmakers and measures the government is taking to revive its semiconductor industry. Sony Group (6758.T) and auto parts maker Denso (6902.T), which will use the chips TSMC makes, are also investors. It said it would be the first chipmaker to bring EUV technology to Japan for production. It has offered TSMC a 476 billion yen subsidy, or about half the expected cost of the factory. Rapidus secured an initial 70 billion yen of funding from the government, and local media reported in April that the government was finalising a plan to provide an additional 300 billion yen.

Persons: TW, Rapidus, JIC, Makiko Yamazaki, Sam Nussey, Tim Kelly, Miho Uranaka, Miyoung Kim, Jamie Freed Organizations: Semiconductor, chipmakers, Taiwan Semiconductor Manufacturing, Sony Group, Micron Technology, Samsung Electronics, Reuters, Business Machines, IBM, Samsung, Nikon, Tokyo, Japan Investment Corp, Innovation Network Corp of Japan, Toshiba, Japan Industrial Partners, Thomson Locations: TOKYO, Japan, Kyushu, Denso, KS, Yokohama, Japan's, Chitose, Hokkaido, Rapidus, U.S, China, State

[1/2] U.S. President Joe Biden and India's Prime Minister Narendra Modi attend an official state dinner at the White House in Washington, U.S., June 22, 2023. Biden and Modi gathered with CEOs including Apple's (AAPL.O) Tim Cook, Google's (GOOGL.O) Sundar Pichai and Microsoft's (MSFT.O) Satya Nadella. Modi, who has appealed to global companies to "Make in India," will also address business leaders at the Kennedy Center for Performing Arts. Modi praised Gopalan for keeping India "close to her heart" despite the distance to her new home, and called Harris "really inspiring." On Friday evening, Modi will address members of the Indian diaspora, many of whom have turned out at events during the visit to enthusiastically fete him, at times chanting "Modi!

Persons: Joe Biden, Narendra Modi, Elizabeth Frantz WASHINGTON, Modi, Biden, Tim Cook, Sundar Pichai, Satya Nadella, Sam Altman, OpenAI, Sunita Williams, Anand Mahindra, Mukesh Ambani, Farwa Aamer, John Kirby, Kirby, India's, Kamala Harris, Antony Blinken, Harris, Shyamala Gopalan, Gopalan, Steve Holland, Simon Lewis, Jeff Mason, Trevor Hunnicutt, Don Durfee, Grant McCool Organizations: India's, White, REUTERS, Indian, U.S, NASA, Mahindra Group, Reliance Industries, Kennedy Center for Performing Arts, FedEx, MasterCard, Adobe, South China Seas, South, Asia Society Policy Institute, White House, Washington, State Department, Bharatiya Janata Party, BJP, Thomson Locations: Washington , U.S, Washington, China . U.S, India, United States, CHINA, Beijing, China, South, South Asia, New Delhi, Taiwan, Russia, Moscow, Ukraine, American

☆ These are the most-loved Club stocks on Wall Street. Here’s where we stand
▼ + stars: | 2023-06-23 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +7 min

HAL YTD mountain Halliburton's year-to-date stock performance. AMZN YTD mountain Amazon's year-to-date stock performance. GOOGL YTD mountain Alphabet's year-to-date stock performance. That's lagged many other large-cap tech peers over the same stretch, including Club stock Nvidia (NVDA), which climbed 11%, and Adobe (ADBE), which advanced 10%. PANW YTD mountain Palo Alto Networks' year-to-date stock performance.

Persons: It's, hasn't, it's, Halliburton, We're, we'd, it'd, what's, we're, Linde, Jim Cramer's, Jim Cramer, Jim, Pat Carter Organizations: Halliburton, HAL, Linde, LIN, Palo Alto Networks, Wall, Club, Coterra Energy, Federal, Amazon, Amazon Web, Microsoft, Nvidia, Adobe, Networks, CNBC, Getty Locations: Thursday's, Palo, U.S, Europe, Stillwater , Oklahoma

☆ Indian PM Modi to meet CEOs as Washington visit concludes
▼ + stars: | 2023-06-23 | by ( ) www.reuters.com time to read: +3 min

[1/2] U.S. President Joe Biden and India's Prime Minister Narendra Modi attend an official state dinner at the White House in Washington, U.S., June 22, 2023. REUTERS/Elizabeth FrantzWASHINGTON, June 23 (Reuters) - Indian Prime Minister Narendra Modi will meet U.S. and Indian business leaders in Washington on Friday, the final day of a state visit marked by pledges of deeper U.S.-India cooperation on areas including space, artificial intelligence and quantum computing. 2 position in the White House, and Secretary of State Antony Blinken. The White House also announced plans to cooperate on quantum computing, scientific research and technological innovation, alongside plans to manufacture weapons in India. On Friday evening, Modi will address members of the Indian diaspora, many of whom have turned out at events during the visit to enthusiastically fete him, at times chanting "Modi!

Persons: Joe Biden, Narendra Modi, Elizabeth Frantz WASHINGTON, Modi, Kamala Harris, Antony Blinken, India's, Biden, Simon Lewis, Don Durfee, Grant McCool Organizations: India's, White, REUTERS, Indian, U.S, State Department, Kennedy Center for Performing Arts, FedEx, MasterCard, Adobe, Tech Mahindra, Congress, Thomson Locations: Washington , U.S, Washington, India, American, Delhi, China, Beijing, Taiwan, Russia, Moscow, Ukraine

In the face of an unprecedented semiconductor shortage, Europe is offering billions of euros in subsidies to reduce its dependence on Asia. In return, Intel is committing big sums and with Germany already bagging a 30 billion euro investment, Poland decided to crash the party. Poland initially impressed Intel executives with the speed in which it responded to queries and addressed concerns, Intel said. "When we began the process, we hadn't considered Poland," Intel CEO Pat Gelsinger told Reuters. But when Intel announced its European investments in March 2022, Germany was awarded a major factory in Magdeburg while Intel told Poland it would only expand its existing facility in Gdansk.

Persons: chipmaker, hadn't, Pat Gelsinger, Gelsinger, Marcin Fabianowicz, Fabianowicz, Sroda Slaska Adam Ruciński, TSMC, Jakub Mazur, Karol Badohal, Supantha Mukherjee, Matt Scuffham, Elaine Hardcastle Organizations: Wroclaw, Intel, Reuters, Polish Investment and Trade Agency, Industrial Development Agency, PepsiCo, Taiwan Semiconductor Manufacturing Corp, Thomson Locations: WROCLAW, Poland, STOCKHOLM, Europe, Asia, Germany, U.S, Wroclaw, Polish, Magdeburg, Gdansk, Sroda Slaska, Wrocław, Taiwan, Stockholm

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