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☆ U.S. manufacturing jobs are coming back home — and these industrials stand to gain
▼ + stars: | 2023-06-22 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +6 min

The Club's industrials are set to profit from a burgeoning trend of companies bringing manufacturing jobs back to the U.S. from overseas. As companies reconstruct supply chains in the wake of the Covid-19 pandemic, Mizuho analysts see a multiyear revenue benefit for Western industrials. But companies that enable manufacturing automation, including Emerson, follow closely behind as "core beneficiaries" of the reindustrialization cycle, according to Mizuho. Meanwhile, Mizuho pointed to Honeywell as one of the companies offering a more diversified way for investors to gain reshoring exposure. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Stanley Black, Decker, Mizuho, Wall, Emerson, Eaton, Hubbell, Emerson —, —, Reshoring, Frank Dellaquila, Rockwell, Jim Cramer's, Jim Cramer, Jim, Timothy Aeppel Organizations: Mizuho, Emerson, Honeywell International, Honeywell, Emerson Electric, Stanley, Western, National, Rockwell Automation, Citigroup, Citi, Caterpillar, Linde, LIN, U.S . Companies, Taiwan Semiconductor Manufacturing Company, CAT, CNBC, Workers, Emerson Electric Co Locations: U.S, North Carolina, Mizuho, Marshalltown , Iowa

☆ CNBC Daily Open: Everybody's fighting inflation
▼ + stars: | 2023-06-22 | by ( Clement Tan | ) www.cnbc.com time to read: +1 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. Rally fadesU.S. stocks fell on Wednesday for the third-straight session as investors took a breather from last week's rally. In Europe, markets lost ground after U.K. inflation data came in higher than expected. More hikesFed Chair Jerome Powell reaffirmed his belief that more rate hikes are likely until more progress is made on bringing down inflation.

Persons: Jerome Powell, Goldman Sachs Organizations: CNBC, Intel, Taiwan Semiconductor Manufacturing Company, Financial Services Committee, bullishness, EV Locations: Europe, BlackRock

☆ Watch live: President Biden and India Prime Minister Modi speak at the White House
▼ + stars: | 2023-06-22 | by ( Emma Kinery | ) www.cnbc.com time to read: +1 min

President Joe Biden and Prime Minister Narendra Modi of India will hold a joint press conference following their bilateral meeting Thursday. Later, Modi will deliver remarks to a joint meeting of Congress before the president and the first lady will host the prime minister for a state dinner at the White House. U.S.-based Micron Technology has committed to open a $2.75 billion semiconductor assembly in India with Micron footing $800 million and the country's government covering the remainder. India is slated to announce an agreement to purchase MQ-9B SeaGuardian drones. Additionally, under a new partnership, General Electric will work with India's Hindustan Aeronautics to jointly build F414 jet engines in India.

Persons: Joe Biden, Narendra Modi, Modi Organizations: White, U.S, Micron Technology, Micron, General, India's Hindustan Aeronautics Locations: India

☆ ‘Intel Outside’ is more like it these days
▼ + stars: | 2023-06-21 | by ( ) www.reuters.com time to read: +2 min

The cash will come in handy for the company whose “Intel Inside” campaign is part of marketing lore, but the benefits of putting the subsidiary on a path to a standalone future are bigger. IMS dominates a specialized niche of semiconductor manufacturing, making laser-based tools that construct masks used to etch complex patterns on silicon-wafer circuitry. With Intel, Taiwan Semiconductor Manufacturing Corp (2330.TW), and others rushing to build plants, there’s plenty of business. Intel’s own ambitious plans, including a recently unveiled $33 billion expansion in Germany, have opened it up to talking with outside investors. IMS might benefit similarly from being outside Intel.

Persons: Robert Cyran, Jeffrey Goldfarb, Katrina Hamlin Organizations: YORK, Reuters, IMS, Bain Capital, Intel, Taiwan Semiconductor Manufacturing Corp, Twitter, Thomson Locations: Germany, Cava

☆ Chipmaker Intel restructures manufacturing business
▼ + stars: | 2023-06-21 | by ( ) www.reuters.com time to read: +1 min

June 21 (Reuters) - Intel Corp (INTC.O) said on Wednesday its manufacturing business will work like a separate unit and will begin to generate a margin, but gave no clear timeline on when it will start scaling up, sending the chipmaker's shares down about 5%. The company also did not name a new external customer for the business as part of its foundry services, a key element of Intel's turnaround plans wherein it will offer its manufacturing services to other companies including its competitors. Intel's internal business units will now have a customer-supplier relationship with the manufacturing business, Chief Financial Officer David Zinsner said on an investor call. Based on that model, Intel will be the second largest foundry next year with manufacturing revenue of more than $20 billion, he said. "The presentation essentially tells investors that its current manufacturing is sub-scale and could remain sub-scale for a while," Chan added.

Persons: David Zinsner, Kinngai Chan, Chan, Chavi Mehta, Maju Samuel Organizations: Intel Corp, Intel, Taiwan Semiconductor Manufacturing, Thomson Locations: Bengaluru

☆ Intel stock drops 6% as company updates chip manufacturing plans
▼ + stars: | 2023-06-21 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

Intel CEO Pat Gelsinger speaks during the Mobileye Global Inc. IPO at the Nasdaq MarketSite in New York on Oct. 26, 2022. Intel stock dropped 6% on Wednesday after the company gave investors an update on the company's turnaround plan to become a chip manufacturing company competing with Taiwan Semiconductor Manufacturing Company. Intel plans to use its own chips to work out problems in its manufacturing before opening up the factories to third-party companies. "The manufacturing group will now face the same market dynamics as their foundry counterparts," Zinsner told analysts. Wednesday's update was focused on how Intel would use its manufacturing capabilities for its own chips.

Persons: Pat Gelsinger, David Zinsner, Zinsner Organizations: Inc, Nasdaq, Mobileye, Intel Corp, Intel, Taiwan Semiconductor Manufacturing Company, Apple, Nvidia, Qualcomm, Samsung, IMS, Bain Capital, AMD Locations: New York, Austrian

☆ Biden administration taps Google chair for chips research effort
▼ + stars: | 2023-06-20 | by ( Trevor Hunnicutt | ) www.reuters.com time to read: +2 min

WASHINGTON, June 20 (Reuters) - The Biden administration says it has picked the chairman of Google parent Alphabet Inc (GOOGL.O), John Hennessy, and four other technology industry experts to help with research and development of next-generation computer chips. They will be responsible for picking a board of trustees to run the National Semiconductor Technology Center. That public-private partnership was authorized to lead research on next-generation chips as part of last year's bipartisan $52.7 billion semiconductor manufacturing and research law, which also subsidizes new chip plants. The nonprofit board is expected make politically sensitive decisions, including where in the United States to locate the center's research facilities. "This selection committee is the next step to helping us stand up the NSTC and ensure it succeeds for generations."

Persons: Biden, John Hennessy, Hennessy, Joe Biden, Gina Raimondo, Janet Foutty, Jason Matheny, Don Rosenberg, Brenda Wilkerson, Trevor Hunnicutt, Cynthia Osterman Organizations: Google, Inc, Commerce Department, Reuters, National Semiconductor Technology, Stanford University, Deloitte, RAND Corp, Anzu Partners, Qualcomm, Thomson Locations: United States, China, Taiwan

☆ Republicans Against Inequality
▼ + stars: | 2023-06-20 | by ( David Leonhardt | ) www.nytimes.com time to read: +2 min

Vance, the Ohio Republican, and Senator Elizabeth Warren, the Massachusetts progressive, have collaborated on a bill to claw back executive pay at failed banks. The two worked through the details through in-person conversations, weekend phone calls and late-night texts. Rubio this month published a book, “Decades of Decadence,” that criticizes the past 30 years of globalization. Tomorrow afternoon, these four Republican senators — Cotton, Rubio, Vance and Young — will speak at an event on Capitol Hill that’s meant to highlight the emergence of a populist conservative movement in economics. Cass is right about that: Income growth for most families has been sluggish for decades, trailing well behind economic growth.

Persons: J.D, Vance, Elizabeth Warren, Marco Rubio, Rubio, Todd Young, Tom Cotton of, Biden, — Cotton, Young —, ”, Oren Cass, Mitt Romney, Cass, ” Cass Organizations: Ohio Republican, Todd Young of Indiana, Capitol, Conservative, American Locations: Massachusetts, Marco Rubio of Florida, Tom Cotton of Arkansas

☆ Biden aides tap Google chair for chips research effort, officials say
▼ + stars: | 2023-06-20 | by ( Trevor Hunnicutt | ) www.reuters.com time to read: +2 min

WASHINGTON, June 20 (Reuters) - The Biden administration picked the chairman of Google parent Alphabet (GOOGL.O), John Hennessy, and four other technology industry experts to help with research-and-development of next generation computer chips, U.S. officials told Reuters. Hennessy and the selected individuals are set to be announced by the Commerce Department on Tuesday, according to the officials, who declined to be identified. They will be responsible for picking a board of trustees to run the National Semiconductor Technology Center. That public-private partnership was authorized to lead research on next-generation chips as part of last year's bipartisan $52.7 billion semiconductor manufacturing and research law, which also subsidizes new chip plants. The nonprofit board is expected make politically sensitive decisions, including where in the United States to locate the center's research facilities.

Persons: Biden, John Hennessy, Hennessy, Joe Biden, Janet Foutty, Jason Matheny, Don Rosenberg, Brenda Wilkerson, Trevor Hunnicutt, Cynthia Osterman Organizations: Google, Reuters, Commerce Department, National Semiconductor Technology, Stanford University, Deloitte, RAND Corp, Anzu Partners, Qualcomm, Thomson Locations: United States, China, Taiwan

Berlin has agreed subsidies worth nearly 10 billion euros with the U.S. chipmaker, a person familiar with the matter said, more than the 6.8 billion euros it had initially offered Intel to build two leading-edge facilities in the eastern city. "Today's agreement is an important step for Germany as a high-tech production location – and for our resilience," Scholz said after Monday's signing. Globally, semiconductor manufacturing is expected to become a trillion-dollar industry by 2030, expanding from $600 billion in 2021, according to McKinsey. Initially, Intel wanted to invest 17 billion euros in the Magdeburg plant, an amount that has nearly doubled to more than 30 billion. About 7,000 construction jobs will be created in the first expansion, plus around 3,000 high-tech jobs at Intel and tens of thousands of jobs across industry, the U.S. chipmaker said.

Persons: Olaf Scholz, Pat Gelsinger, Scholz, Israel, Dado Ruvic, Robert Hermann, Taiwan's TSMC, Tesla, Robert Habeck, chipmaker, Gelsinger, Maria Martinez, Riham, Christoph Steitz, Rachel More, Jason Neely, Sharon Singleton, Catherine Evans Organizations: Intel, Intel Intel, Germany's, U.S, AMD, Nvidia, Samsung, Union, McKinsey, REUTERS, Germany Trade, Invest, Reuters, Germany, Thomson Locations: Germany, Frankfurt BERLIN, STOCKHOLM, Magdeburg, Europe, Berlin, Saxony, Anhalt, EU, chipmaking, Poland, United States, South Korea, Taiwan, Frankfurt, U.S, Ireland, France, Asia

☆ Taiwan seeks closer EU ties in return for chip investment
▼ + stars: | 2023-06-17 | by ( Philip Blenkinsop | ) www.reuters.com time to read: +3 min

Overseas investments by Taiwan Semiconductor Manufacturing Corp (TSMC), the world's largest contract chipmaker, need government approval, including for a potential factory in Germany. Wu said Taiwan would not block investment in Europe, but there was a "philosophical issue" that a country wanting Taiwanese help needed to consider a broader picture of relations with Taiwan. "If they can think along that positive line, the relations between Taiwan and European countries, major European countries, are going to be so much better than before," said Wu. Taiwan has no formal diplomatic ties with any European country except the Vatican and China warned Europe against official ties ahead of Wu's visit. The EU included Taiwan on its list of potential BIA partners in 2015, but it has not held talks with Taiwan on the issue since.

Persons: Ann Wang, Joseph Wu, Wu, Philip Blenkinsop, Nick Macfie Organizations: REUTERS, Taiwan Semiconductor Manufacturing Corp, NATO, EU, Thomson Locations: Tainan, Taiwan, Europe, Germany, China, Vatican, Czech Republic, Brussels, Taiwan Strait

☆ Morgan Stanley loves these 5 global A.I. chip stocks that could take Nvidia's market share
▼ + stars: | 2023-06-13 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

Nvidia , a dominant player in the artificial intelligence computing market, may face increasing competition from custom chip designers in the near future, according to Morgan Stanley. "We therefore expect to see increasingly energy-efficient and low-cost AI custom chip designs ahead, matching or even outpacing the growth of NVIDIA's and AMD's general purpose GPUs." Morgan Stanley is "overweight" on the five stocks, and increased their price targets in the June 11 note. As one of the few pure-play leading-edge design service houses, we believe Alchip (along with GUC) is a key enabler of future custom A.I. Global Unichip The chip designer has been awarded a contract from Microsoft to work on its new 5nm custom AI chip, which could be deployed across the U.S. company's cloud computing products.

Persons: Morgan Stanley, ChatGPT, Charlie Chan, Yuan, TSMC, Alchip Technologies Morgan Stanley Organizations: Nvidia, Intel, AMD, Taiwan Semiconductor Manufacturing Company, Alchip Technologies, Global, Yuan Electronics, ASM, Microsoft, Hong, ASM Pacific Locations: Taiwan, Hong Kong, China

OAKLAND, California, June 13(Reuters) - Silicon Valley-based AI chip startup SiMa.ai on Tuesday said it raised an additional $13 million from investors including a key fund in Taiwan called VentureTech Alliance, which has a strong strategic partnership with Taiwan Semiconductor Manufacturing Co (2330.TW). This is at least the third investment in U.S. chip startups by VentureTech Alliance in the past month. British AI chip unicorn Graphcore's struggles have been widely reported. Rangasayee also pointed to one recent benchmark testing result by SiMa.ai that beat AI chip giant Nvidia Corp (NVDA.O) in performance and power of chips used on devices like cameras, drones and robots. The testing data is published by MLCommons, an engineering consortium that maintains testing benchmarks widely used in the AI chip industry.

Persons: VentureTech, Ethernovia, SiMa.ai, Navin Chaddha, Mayfield, Chaddha, they're, Moshe Gavrielov, Krishna Rangasayee, MLCommons, it's, David, Goliath, Jane Lanhee Lee, Lisa Shumaker Organizations: VentureTech, Taiwan Semiconductor Manufacturing, VentureTech Alliance, Ayar Labs, Nvidia Corp, Nvidia, Thomson Locations: OAKLAND, California, Taiwan, British

☆ Lockheed Martin collaborates with GlobalFoundries to secure defense chip supply
▼ + stars: | 2023-06-12 | by ( ) www.reuters.com time to read: +1 min

June 12 (Reuters) - Chipmaker GlobalFoundries (GFS.O) and missile manufacturer Lockheed Martin (LMT.N) on Monday announced their partnership to secure domestic semiconductor supply for defense systems. The strategic collaboration will secure manufacturing across a range of advanced and next-generation chips, and will allow leveraging of GlobalFoundries' technology to increase anti-fragility in microelectronics systems and supply chains. Defense companies have been grappling with supply chain disruptions including that from global chip shortages, which continue to hurt production. Lockheed Martin along with GlobalFoundries will also pursue external funding opportunities, technology development and collaboration with the U.S. government. GlobalFoundries' manufacturing facilities in New York and Vermont have accreditation from the U.S. government and are authorized to produce secure chips used in sensitive mission systems.

Persons: Lockheed Martin, GlobalFoundries, Pratyush Thakur, Shilpi Majumdar Organizations: Lockheed, Monday, U.S, U.S ., Thomson Locations: United States, New York, Vermont, Bengaluru

☆ A former Samsung exec stole plans for a chipmaking plant in China — then tried to replicate it across town, prosecutors say
▼ + stars: | 2023-06-12 | by ( Associated Press | Will Gendron | ) www.businessinsider.com time to read: +4 min

An ex-Samsung executive has been indicted on charges of stealing company secrets for a chip plant. The 65-year-old man tried to use the stolen plans to build a copycat facility, prosecutors said. The copycat chipmaking plant would have been less than a mile from Samsung's in Xi'an, China. A former Samsung executive stole blueprints and trade secrets from his ex-employer — and then tried to set up a microchip factory in China less than a mile away from Samsung's own, prosecutors said. The technology prosecutors said was stolen by the man's China-based company would have been worth at least $233 million for Samsung.

Persons: —, wasn't, China —, Yonhap, … Organizations: Samsung, Morning, South, AP, Prosecutors, Korean Herald, SK Hynix Locations: Samsung's, Xi'an, China, Korea, South Korean, South Korea, Suwon, Singapore

Hong Kong/Seoul CNN —South Korean prosecutors have indicted a former Samsung executive for allegedly working with competitors who tried to build a copycat semiconductor factory in China. In a Monday statement, the Suwon district prosecutor’s office said it had charged a 65-year old former employee of what it called “Company A” over data theft. Prosecutors said the executive then tried to use that information to build a “duplicate” plant in the Chinese city of Xi’an, about 1.5 kilometers (one mile) away from a Samsung semiconductor factory. News agency Yonhap identified the second company as SK Hynix, another South Korean chip giant. Reuters reported that the attempt to build the new plant using Samsung data between 2018 and 2019 ended in failure due to funding issues.

Persons: wasn’t, Prosecutors, Yonhap Organizations: Seoul CNN — South, Samsung, “, SK Hynix, Prosecutors, Industrial Technology Protection, Reuters Locations: Hong Kong, Seoul, China, Suwon, Xi’an, Taiwan, Singapore, South Korea’s, South Korea, United States, Netherlands, Japan, Washington, Beijing

☆ How Samsung became the world’s No. 2 advanced chipmaker and set the stage for a U.S. manufacturing boom
▼ + stars: | 2023-06-09 | by ( Katie Tarasov | ) www.cnbc.com time to read: +5 min

In this article NVDAQCOM6758.T-JPAMATAMD2330-TW.FKRX300MUAAPL Follow your favorite stocks CREATE FREE ACCOUNTSamsung's $17 billion new chip fab is under construction in Taylor, Texas, on April 19, 2023. CNBC recently went inside Samsung's Austin chip fab, for the first in-depth tour given on camera to a U.S. journalist. Samsung got its start in 1938 as the Samsung Sanghoe Trading Company, founded by Lee Byung-chull in Korea. Just a decade after making its first memory chip, Samsung was coming to market with a version that had 1,000 times the capacity. As consumers rein in their spending in the face of rising inflation, demand for memory chips has weakened sharply.

Persons: Katie Brigham, Jon Taylor, Patel, Jinman Han, Han, Lee Byung, Lee Kun, Geoffrey Cain, weren't, Apple, Cain, Jay Y, Lee, Yoon Suk, Joe Biden, Jonathan Ernst Organizations: AMD, Samsung, Taiwan Semiconductor Manufacturing Company, Intel, they'll, CNBC, Austin, Samsung Sanghoe Trading Company, Samsung Samsung, Samsung Electronics, Samsung TV, Hankook Semiconductor, Apple, Republic of Samsung, Samsung Electronics Pyeongtaek, Reuters Locations: Taylor , Texas, TSMC, U.S, Korea, New Jersey, Silicon Valley, South Korea, Republic of, Austin , Texas, Texas, Austin, Pyeongtaek

☆ Warren Buffett – he invests just like us!
▼ + stars: | 2023-06-07 | by ( Jeffrey Goldfarb | ) www.reuters.com time to read: +7 min

NEW YORK, June 7 (Reuters Breakingviews) - “Do as I say, not as I do” sounds like the kind of pithy thing Warren Buffett might say to his adoring throngs. The conglomerate was an investor for a dozen years, until Buffett got spooked by Freddie Mac’s overly rosy earnings growth projections. The $1.3 billion stake it finished accumulating in 1994 was worth $25 billion last month. A $13 billion stake in IBM (IBM.N) came and went, as did $8 billion of JPMorgan (JPM.N) and almost $3 billion of biopharmaceutical company AbbVie (ABBV.N). Warren Buffett, Berkshire’s chairman and CEO, said that geopolitical tensions contributed to the decision to sell most of the $4.1 billion TSMC stake just a few months after buying it, the Nikkei reported on April 11.

Persons: Warren Buffett, can’t, There’s, Buffett, Freddie Mac, Freddie Mac’s, Coke, Benjamin Moore, TSMC, ”, Wells, ” Buffett, Berkshire Hathaway, John Foley, Sharon Lam Organizations: YORK, Reuters, Berkshire Hathaway, Home Loan Mortgage, U.S ., Berkshire, BNSF, Taiwan Semiconductor Manufacturing, Buffett, ” Morningstar, Treasury, New York Stock Exchange, American Express, IBM, JPMorgan, Activision, Occidental Petroleum, Paramount Global, Oracle, Reuters Graphics Reuters, Nikkei, Thomson Locations: Berkshire, U.S, TSMC . Berkshire, Japan, Taiwan, Omaha, China

☆ TSMC feeling 'good' about possible Germany plant, in talks on subsidies
▼ + stars: | 2023-06-06 | by ( ) www.reuters.com time to read: +2 min

TAIPEI, June 6 (Reuters) - Taiwanese chipmaker TSMC (2330.TW) is feeling "good" about talks over a possible first European factory in Germany and is discussing subsidies with the host country's government, the company's chairman said on Tuesday. TSMC, the world's largest contract chipmaker, has been in talks with the German state of Saxony since 2021 about building a fabrication plant, or "fab," in Dresden. Speaking at the company's annual shareholders meeting, Taiwan Semiconductor Manufacturing Co's Chairman Mark Liu said the company had already sent executives to Germany a few times for talks on the possible new plant. "So far the feeling is good," he said, adding there were some "gaps" in the supply chain and labour in Germany but these were being addressed. "We are still negotiating with Germany on subsidies, how much the subsidies will be, that there won't be conditions for the support.

Persons: TSMC, Mark Liu, Liu, Faith Hung, Ben Blanchard, Jacqueline Wong, Jamie Freed Organizations: European Union, EU, Taiwan Semiconductor Manufacturing, U.S ., Industry, U.S . Department of Commerce, Thomson Locations: TAIPEI, Germany, Saxony, Dresden, Asia, United States, U.S, Arizona

☆ Nvidia runaway winner in market cap addition in May
▼ + stars: | 2023-06-01 | by ( ) www.reuters.com time to read: +1 min

June 1 (Reuters) - Nvidia Corp's market capitalisation jumped the most in May among the top 20 global companies by market value, adding $248 billion, with a majority of the gains coming in the last four sessions, according to Refinitiv data. Reuters GraphicsTaiwan Semiconductor Manufacturing Co Ltd (2330.TW), a key manufacturer of Nvidia's chips, also saw a big jump in its market cap last month. Saudi Arabian Oil (2222.SE) and Exxon Mobil Corp (XOM.N) were the biggest losers in terms of market cap, hit by a decline in oil prices last month. Reuters GraphicsApple and Microsoft led the list with the highest market capitalisation in the world. Reporting By Patturaja Murugaboopathy and Gaurav Dogra in Bengaluru; Editing by Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

Persons: chipmaker, Patturaja Murugaboopathy, Gaurav Dogra, Sriraj Organizations: Nvidia, Reuters Graphics Taiwan Semiconductor Manufacturing Co, Oil, Exxon Mobil Corp, Reuters Graphics Apple, Microsoft, Thomson Locations: Saudi, Bengaluru

☆ Nvidia CEO feels safe relying heavily on Taiwan manufacturing
▼ + stars: | 2023-06-01 | by ( ) www.reuters.com time to read: +1 min

TAIPEI, June 1 (Reuters) - Nvidia Corp (NVDA.O), a major supplier of chips and computing systems for artificial intelligence, feels "perfectly safe" about relying heavily on Taiwan for manufacturing, its chief executive Jensen Huang said on Thursday. Huang, speaking on the sidelines of a technology event in Taipei, said he planned to meet executives from chip manufacturer Taiwan Semiconductor Manufacturing Co Ltd (2330.TW) and electronics maker Foxconn (2317.TW) on Friday. He had not yet decided if he would visit China after his Taiwan trip, he added. Huang said Nvidia, the world's most valuable listed semiconductor company, had a lot of "diversity" and "resilience" built into its supply chain and described TSMC's process of diversifying in different geographies as an excellent strategy. Reporting by Ben Blanchard; Editing by Anne Marie Roantree, Jacqueline Wong and Christina FincherOur Standards: The Thomson Reuters Trust Principles.

Persons: Jensen Huang, Huang, selfies, Ben Blanchard, Anne Marie Roantree, Jacqueline Wong, Christina Fincher Organizations: Nvidia Corp, Taiwan Semiconductor Manufacturing Co, Nvidia, Thomson Locations: TAIPEI, Taiwan, Taipei, China, U.S

☆ Syngenta’s IPO is more relief than triumph
▼ + stars: | 2023-05-30 | by ( Yawen Chen | ) www.reuters.com time to read: +4 min

LONDON, May 30 (Reuters Breakingviews) - Syngenta’s $9 billion Chinese market listing finally looks ripe. With Chinese markets in choppy waters, stability-minded domestic regulators could still have cold feet about Syngenta’s mammoth initial public offering. But a reform to fast-track Chinese listings introduced earlier this year suggests a debut is imminent. The seeds-and-pesticide maker has since erased nearly $20 billion of debt, partly thanks to debt-to-equity swaps with ChemChina. Syngenta’s dragged-out market debut will be more of a relief than a triumph.

Nvidia chips have been at the heart of major tech tends from video games to self-driving cars, to cloud computing, and now AI - artificial intelligence. Born in Taiwan, Huang moved to the United States as a child, earning engineering degrees at Oregon State University and Stanford University. Its first big hits were specialized chips to power high-intensity motion graphics for computer games called graphics processing units (GPUs). Even then, Huang did not think of Nvidia as just a chip company. "Computer graphics is one of the most complex parts of computer science," Huang told an audience in Silicon Valley in 2021 while receiving a lifetime achievement award.

Persons: Jensen Huang, I've, Huang, grunting, Inc's, Jeff Bezos, Steve Jobs, ChatGPT, Stanford University . Huang, selfies, Curtis Priem, Chris Malachowsky, Andrew Ng, Yuvraj Malik, Samrhitha, Stephen Nellis, Ben Blanchard, Matthew Lewis, Sonali Paul, Jacqueline Wong Organizations: Nvidia Corp, Apple Inc, Oregon State University, Stanford University, Nvidia, Valley's Sequoia Capital, BET, Taiwan Semiconductor Manufacturing, Intel, Thomson Locations: Taiwan, United States, Taipei, Silicon Valley, Bengaluru, San Francisco

May 30 (Reuters) - Jensen Huang, the chief of chipmaker Nvidia Corp (NVDA.O), has joined an elite list of tech executives to head a company worth $1 trillion. Nvidia shares have been on a tear, rising on stellar sales projections from a boom in artificial-intelligence workloads and components. Huang was born in Taiwan but moved to the United States as a child, earning engineering degrees at Oregon State University and Stanford University. In 1993 he founded Nvidia along with Curtis Priem and Chris Malachowsky, securing backing from Silicon Valley's Sequoia Capital and others. As companies further adopt AI, Nvidia could be one of the key beneficiaries.

Persons: Jensen Huang, Huang, Inc's, Jeff Bezos, ChatGPT, Curtis Priem, Chris Malachowsky, Andrew Ng, Yuvraj Malik, Samrhitha, Stephen Nellis, Matthew Lewis Organizations: Nvidia Corp, Nvidia, Oregon State University, Stanford University, Valley's Sequoia Capital, BET, INTEL, Taiwan Semiconductor Manufacturing, Intel Corp, Logic Corp, Devices Inc, Alphabet Inc, Baidu Inc, HK, San, Thomson Locations: Taiwan, United States, Taipei, Bengaluru, San Francisco

☆ China urges Japan to end curbs on chip exports
▼ + stars: | 2023-05-30 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —China’s commerce minister has urged Japan to end its newly announced curbs on exports of chipmaking equipment, saying it would hurt economic and trade relations between the two countries. In March, Japan announced it would tighten rules on exports of 23 types of advanced semiconductor manufacturing equipment, joining the United States and the Netherlands in curbing the sale of key technology to China. On May 23, the commerce ministry issued a statement calling on Japan to “immediately” stop the export restrictions and said China would take measures to defend its interests. China's commerce minster, Wang Wentao, left, met Yasutoshi Nishimura, Japan's trade minister, in Detroit last week. China has its own chip manufacturers, but they supply mostly low- to mid-end processors used in home appliances and electric vehicles.

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