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☆ Top Wall Street analysts pick these 3 stocks for attractive returns
▼ + stars: | 2024-03-31 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +6 min

Wall Street analysts are ignoring the short-term noise and remain focused on companies that have strong fundamentals and can generate attractive returns in the long run. Bearing that in mind, here are three stocks favored by the Street's top pros, according to TipRanks, a platform that ranks analysts based on their past performance. Micron TechnologyThis week's first stock pick is memory chipmaker Micron Technology (MU), which impressed investors with its strong quarterly performance. Bolton noted that Micron's HBM3E memory solution generated revenue in the fiscal second quarter and has already sold out for calendar year 2024. He highlighted management's commentary about generating several hundred million dollars of revenue from HBM3E in fiscal 2024 and driving fiscal 2025 revenue to record highs.

Persons: Needham, Quinn Bolton, Bolton, TipRanks, LULU, Robert Drbul, Drbul, Christopher Rolland, Rolland Organizations: Wall Street, Micron, Micron Technology, MU, Bolton, Broadcom, Susquehanna, Symantec, VMware Locations: Santa Monica, United States, U.S

☆ These stocks could rally in 'second phase' of bull market, Morgan Stanley Investment Management says
▼ + stars: | 2024-03-30 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

There's a rotation happening in the market that investors can take advantage of by investing in cyclical stocks, according to Morgan Stanley Investment Management's Andrew Slimmon. He recommended investors to have a more cyclical bias to their portfolio, pointing out that the best-performing sectors in the last month are energy, materials and industrials. He also thinks there's still room to run in semiconductor stocks — even if the overbought group sees a near-term pullback. " Slimmon named Applied Materials , Ameriprise Financial and Valero Energy as some of the stocks he likes right now. Regarding energy, Slimmon said the space could continue to show strength if the economy begins to weaken.

Persons: Morgan Stanley, Andrew Slimmon, Stocks, Slimmon, there's, Slimmon's, that's Organizations: Morgan, Morgan Stanley Investment, Dow Jones Industrial, Nasdaq, Ameriprise Financial, Valero Energy, Infrastructure Investment, Jobs, United Rentals, Applied Materials, Ameriprise, U.S Locations: U.S, financials, That's

☆ Xi tells Dutch prime minister: No force can stop China’s tech advance
▼ + stars: | 2024-03-28 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

THE HAGUE, NETHERLANDS - MARCH 23:Dutch Prime Minister Mark Rutte meets with the President of the People's Republic of China Xi Jinping at the Catshuis March 23, 2014 in The Hague, Netherlands. (Photo by Valerie Kuypers-Pool/Getty ImagesChina's technological progress cannot be stopped, Chinese President Xi Jinping told Dutch Prime Minister Mark Rutte when they met in Beijing Wednesday for talks on areas such as the critical semiconductor industry. "The Chinese people also have legitimate development rights, and no force can stop the pace of China's scientific and technological progress," said Xi, according to Xinhua News Agency. Such EUV lithography machines are crucial for chip manufacturing and are used by companies like Taiwan's TSMC to make the smallest and most sophisticated chips. In January, the Netherlands barred ASML from exporting some of its deep ultraviolet lithography systems to China, which are used to make slightly less advanced chips.

Persons: Mark Rutte, Valerie Kuypers, Xi Jinping, Xi Organizations: Dutch, People's Republic of China Xi, Xinhua News Agency, U.S Locations: HAGUE, NETHERLANDS, People's Republic of China, The Hague, Netherlands, Beijing, China

☆ The Age of AI BS: Companies Are Exaggerating What Their Tech Can Do
▼ + stars: | 2024-03-27 | by ( Emily Stewart | ) www.businessinsider.com time to read: +8 min

The Securities and Exchange Commission's chair, Gary Gensler, recently warned about "AI washing," or companies giving off a false impression that they're using AI so they can amp up investors. And while some companies are simply exaggerating the tech they do legitimately use, others have taken it a step further. Most companies aren't being accused of breaking the law with their AI chatter, but they're definitely posturing around it. An analysis from Goldman Sachs found that 36% of S&P 500 companies mentioned AI in their fourth-quarter earnings calls, a record high. Even the Big Tech companies that are really moving and shaking in AI are on shifty ground at times.

Persons: Gary Gensler, Delphia, Goldman Sachs, Scott Kessler, Elon Musk, Adolf Hitler, it's, ChatGPT, Daron Acemoglu, Sam Altman, Ed Zitron, he's, It's, overselling, Angelo Zino, Microsoft's, Zino, Acemoglu, Emily Stewart Organizations: Securities, Exchange, SEC, Woodstock, Third, MIT, Prosperity, Nvidia, AMD, Broadcom, CFRA Research, Big Tech, Tech, Microsoft, Business Locations: San Jose , California

☆ Companies Are Luring Investors by Exaggerating What Their AI Can Do
▼ + stars: | 2024-03-27 | by ( Emily Stewart | ) www.businessinsider.com time to read: +8 min

☆ Chip stocks are losing their mojo. How to trade it using options
▼ + stars: | 2024-03-27 | by ( Tony Zhang | ) www.cnbc.com time to read: +3 min

With semiconductor stocks losing momentum over the past few weeks, Intel's strength is starting to show some cracks and at risk of a pullback. Ever since, Intel (INTC) has been playing catch-up, and early last year, investors started to pay attention and boost the shares. The momentum turning negative, coupled with the poor relative strength, suggests INTC could be headed for some further downside towards its $37 breakout level. This leads to risks to the downside as relative strength and momentum slows for INTC. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR.

Persons: INTC Organizations: Intel, AMD Locations: China

☆ China's new guidelines will block Intel and AMD chips in government computers: FT
▼ + stars: | 2024-03-25 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

China has rolled out new guidelines that will phase out U.S. processors in government computers and servers, effectively blocking chips from Intel and AMD , the Financial Times reported on Sunday. The procurement guidelines, unveiled on Dec. 26, are now being enforced and will also impact Microsoft 's Windows operating system and foreign-made database software as they favor Chinese alternatives, the report said. Government agencies higher the township level have been ordered to purchase "safe and reliable" processors and operating systems, FT said. AMD declined to comment on the report while Intel did not immediately respond to CNBC's request for comment. This comes as China has been boosting its domestic semiconductor industry as it seeks to reduce reliance on foreign technology.

Organizations: Intel, AMD, Financial Times, Microsoft, Government, U.S Locations: China

☆ TSMC: How the world’s biggest chipmaker is working to overcome a shortage of talent
▼ + stars: | 2024-03-22 | by ( Eric Cheung | Will Ripley | ) edition.cnn.com time to read: +7 min

All that changed three years ago, when a global chip shortage and rising geopolitical tension turbocharged growth at TSMC. TSMC set up the Newcomer Training Center inside a sprawling science park in the city of Taichung in central Taiwan in 2021. “After many years, what we want to do is to gradually reduce assignees [and] increase the local hires.”The Newcomer Training Center opened in 2021. The soaring demand, particularly for chips that power AI, has created a shortage of talent for the semiconductor industry. Countries compete for this talent.”TSMC’s Ho said a shortage of talent is one of the main challenges the company faces.

Persons: Taiwan CNN —, —, TSMC, Joe Biden, ”, Marcus Chen, ” Lora Ho, John Mees, Stewart Randall, ” TSMC’s Ho, Ho, Kristy Hsu, “, it’s, ” Ho, “ It’s, — CNN’s Juliana Liu Organizations: Taiwan CNN, Moore’s, Apple, Nvidia, AMD, CNN, “, Training, Taiwan Semiconductor Manufacturing, IC, Taiwan ASEAN Studies Center, Economic Research Locations: Taichung, Taiwan, TSMC, Arizona, fabs, United States, Japan, Germany, China, Washington, Kumamoto, Phoenix , Arizona, Dresden, Europe

☆ Shares of Micron pop 14% on earnings beat driven by AI boom
▼ + stars: | 2024-03-20 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +1 min

The company, which makes memory and storage for computers, said it has benefitted from the artificial intelligence boom. Here's how the company did:Earnings per share: 42 cents adjusted vs. 25 cent loss expected by LSEG, formerly known as Refinitiv. Revenue: $5.82 billion vs. 5.35 billion expected by LSEG. For its fiscal third quarter, Micron expects to report revenue of $6.6 billion, above the $6.02 billion expected by analysts. "We believe Micron is one of the biggest beneficiaries in the semiconductor industry of the multi-year opportunity enabled by AI," Micron CEO Sanjay Mehrotra said in a release.

Persons: Sanjay Mehrotra Organizations: Micron, LSEG, Nvidia

☆ TSMC considering advanced chip packaging capacity in Japan, sources say
▼ + stars: | 2024-03-18 | by ( ) www.cnbc.com time to read: +1 min

Worker walks outside the new semiconductor plant by Japan Advanced Semiconductor Manufacturing Company (JASM), a subsidiary of Taiwan's chip giant TSMC, in Kikuyo of the Kikuchi district, Kumamoto prefecture. Taiwan's TSMC is looking at building advanced packaging capacity in Japan, according to two sources familiar with the matter, a move that would add momentum to Japan's efforts to reboot its semiconductor industry. Taiwan's TSMC is looking at building advanced packaging capacity in Japan, according to two sources familiar with the matter, a move that would add momentum to Japan's efforts to reboot its semiconductor industry. One option the chipmaking giant is considering is bringing its chip on wafer on substrate, or CoWoS, packaging technology to Japan, according to one of the sources who was briefed on the matter. Demand for advanced semiconductor packaging has surged globally in tandem with the artificial intelligence boom, spurring chipmakers including TSMC, Samsung Electronics and Intel , to boost capacity.

Persons: TSMC Organizations: Japan Advanced Semiconductor Manufacturing Company, Taiwan Semiconductor Manufacturing, TSMC, Samsung Electronics, Intel Locations: Japan, Kikuyo, Kikuchi, Kumamoto prefecture, Taiwan's, Taiwan

☆ Veteran investor picks 'Glorious 10' global stocks with 30% annual gains over the last 5 years
▼ + stars: | 2024-03-04 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +3 min

However, veteran investor and trader Adam Reynolds says it's time to look beyond the U.S. and consider 10 lesser-known companies from across Europe, Japan and Australia. "The focus on U.S. tech stocks — and especially the Magnificent Seven — is driving huge amounts of performance to the U.S. stock market. Calling valuations of U.S. stocks "stretched," Reynolds said there are opportunities in moving toward a "more diversified global portfolio," including better valuations — and returns. In terms of allocation, Reynolds suggests that investors put 30% of their equities portfolio in U.S. stocks, 40% in Asia and 30% in Europe. Chip stocks Shares of semiconductor manufacturer Tokyo Electron are up over 140% over the last 12 months.

Persons: Adam Reynolds, Reynolds, we're, Reynold Organizations: Big Tech, Apple, Microsoft, Nvidia, Tesla, Saxo Capital Markets, CNBC Pro, Japan, Tokyo, Novo Nordisk, Nordisk, BYD, Ferrari Locations: Europe, Japan, Australia, Asia, Tokyo, Europe's

☆ 'People didn't see it coming': What to know about this hot AI stock up nearly 800% in the past year
▼ + stars: | 2024-03-01 | by ( Samantha Subin | ) www.cnbc.com time to read: +6 min

Here's a breakdown of how Super Micro got to this point, and where investors and analysts expect it to go. What to know about Super Micro Computer Creating servers isn't a new objective for the California-based company. Other shareholders such as Vendig have opted to take a breather on buying shares until the next earnings call. Those headwinds may not hit until 2025 but could hurt the stock if Super Micro fails to differentiate itself. "Super Micro was in the right place at the right time when generative AI took off, there really wasn't a competitor," he said.

Persons: hasn't, Paul Meeks, Brian Vendig, we've, Shreya Gheewala, Matt Bryson, Sylvia Jablonski, Jablonski, Vendig, Wedbush's Bryson Organizations: Nvidia, Devices, Computer, Management, MJP Wealth, AMD, Intel, Wedbush Securities, Micro, Super Micro, Super Locations: California

☆ It's not just Nvidia: The AI boom could create semiconductor jobs across the US and reduce reliance on risky Taiwan
▼ + stars: | 2024-02-29 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +8 min

The demand for Nvidia's AI chips could bolster job growth across the semiconductor industry. It could also help bring more semiconductor chip manufacturing stateside and reduce the US's reliance on Taiwan — which remains vulnerable to Chinese invasion that would wreak havoc on the global economy. AdvertisementEven without the AI boom, the semiconductor industry was already poised for big job gains in the near future. Of the 115,000 US new semiconductor jobs the Semiconductor Industry Association is projecting by 2030, it said roughly 67,000 of these positions risk going unfilled given current college degree completion rates. In an effort to prevent a worker shortage, community colleges and universities across the country have partnered with semiconductor companies.

Persons: —, Pat Gelsinger, It's, who've, TSMC, Syed Alam, Ed Kaste, GlobalFoundries, Mark Muro, Muro, Jensen Huang, hasn't, Dylan Patel, SemiAnalysis, Patel, Accenture's Alam, Alam Organizations: Nvidia, TSMC, Service, Deloitte, Semiconductor Industry Association, Accenture, Meta, Intel, AMD, Brookings Institution, Samsung, Google, IBM, Lam Research, Materials, KLA Corporation Locations: Taiwan, Arizona

☆ Baylor University outperformed the Ivy League in university endowment performance rankings. Here’s how
▼ + stars: | 2024-02-27 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

Baylor University's $2 billion endowment — a fraction of those in the Ivy League — generated a 6.4% return for the fiscal year that ended June 30, outperforming the entire conference. Morehead joined the university in 2011, and since fiscal 2012, Baylor's endowment has more than doubled. The key to Baylor's endowment success, according to Chief Investment Officer David Morehead, is taking advantage of dislocations in the market. This increase comes as endowment returns have rebounded nationally. Endowment returns were up 7.7% in fiscal 2023, per the latest study by the National Association of College and University Business Officers and Commonfund.

Persons: Morehead, CNBC's, David Morehead, Baylor's annualized Organizations: Baylor University's, Ivy League, Brown University, Wall Street, National Association of College and University Business, CNBC, Nvidia

☆ Baylor University outperformed the Ivy League to top university endowment performance rankings. Here’s how
▼ + stars: | 2024-02-27 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

☆ Chip giant TSMC opens first Japan factory as it diversifies away from Taiwan amid U.S.-China tensions
▼ + stars: | 2024-02-26 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +2 min

A general view shows the new semiconductor plant by Japan Advanced Semiconductor Manufacturing Company (JASM), a subsidiary of Taiwan's chip giant TSMC (Taiwan Semiconductor Manufacturing Company), in Kikuyo of the Kikuchi district, Kumamoto prefecture on February 14, 2024. (Photo by Philip FONG / AFP) (Photo by PHILIP FONG/AFP via Getty Images)Taiwan Semiconductor Manufacturing Company opened its first chip plant in Japan on Saturday as it diversifies supply chains away from Taiwan amid intensifying U.S.-China trade tensions. Paul You, chairman of First Securities Investment Corporation said last month that the global semiconductor industry including Taiwan's could be at risk from the U.S.-China chip war. Japan Advanced Semiconductor Manufacturing Inc., the manufacturing company majority-owned by TSMC, began construction of the plant in April 2022. Japan has been striving to strengthen its semiconductor presence amid an intense rivalry with key chip making countries such as Taiwan and South Korea.

Persons: Philip FONG, PHILIP FONG, Paul You, TSMC, JASM Organizations: Japan Advanced Semiconductor Manufacturing Company, Taiwan Semiconductor Manufacturing, AFP, Getty Images, Taiwan Semiconductor Manufacturing Company, Nvidia, Apple, U.S, First Securities Investment Corporation, U.S ., Semiconductor Manufacturing Inc, TSMC, Sony Semiconductor Solutions, Denso Corporation, Samsung, Center, Strategic, International Studies Locations: Japan, Kikuyo, Kikuchi, Kumamoto prefecture, AFP, Taiwan, China, Europe, U.S, Kumamoto, South Korea

☆ Nvidia lives up to the earnings hype and then some, prompting our big price target hike
▼ + stars: | 2024-02-21 | by ( Zev Fima | ) www.cnbc.com time to read: +11 min

NVDA 5Y mountain Nvidia 5 years The Nvidia phenomenon is something for all investors to take note of and study. The first question we got on the call was in relation to the sustainability of the Data Center sales momentum. Generative AI isn't possible in a data center built for traditional general-purpose computing. In fact, Nvidia believes AI inferencing was responsible for about 40% of Data Center sales over the past year. This is why Nvidia was designated by Jim Cramer and the Club as an "own it, don't trade it" stock.

Persons: Jensen Huang, it's Nvidia's, Thursday's, we've, Colette Kress, we're, Nvidia's Huang, Huang, inferencing, It's, Jim Cramer, Apple's, Jim Cramer's, Jim, Ann Wang Organizations: Nvidia, Revenue, U.S, Data, Microsoft, Moore's Law, world's, Management, Software, Enterprise, Club, Apple, CNBC Locations: tacking, China, Taipei, Taiwan

☆ These options plays can help investors profit from a pullback in stocks, Goldman says
▼ + stars: | 2024-02-18 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

Those options could be relatively cheap right now for some of the more vulnerable stocks, according to Goldman. "During normal market environments, the options market prices options efficiently based on trailing realized volatility. Our long-term studies have shown that Free Cash Flow is the most important fundamental metric to watch when estimating downside asymmetry," Marshall said in the note. To identify put option candidates, Goldman found stocks trading above the firm's price targets and low or negative free cash flow. That company reported a net loss of $116.6 million in 2023 , with free cash flow of just $7.9 million.

Persons: John Marshall, Goldman Sachs, Goldman, Marshall, — CNBC's Michael Bloom Organizations: Southwest Airlines, LUV, Tech, Intel, Southwest

☆ Semiconductor industry 'needs another quarter or so' to bring inventory down: GlobalFoundries CEO
▼ + stars: | 2024-02-13 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSemiconductor industry 'needs another quarter or so' to bring inventory down: GlobalFoundries CEOThomas Caulfield, GlobalFoundries CEO, joins 'Closing Bell Overtime' to talk quarterly results, the state of the economy, the semiconductor industry and more.

Persons: Thomas Caulfield Organizations: Email Semiconductor, GlobalFoundries

☆ As the Year of the Dragon begins, the pros name sectors — and stocks — to play the Chinese market
▼ + stars: | 2024-02-13 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +6 min

Chinese stocks had an eventful week last week — with the benchmark Shanghai Composite Index hitting a five-year low of about 2,650 points on Feb. 5, before edging up to end the week at 2,865.90. A slide in Hong Kong-listed Chinese shares on Feb. 9, however, proved that investors may still have lingering concerns on the prospects of Chinese stocks in the new year. As the festive season gets underway, Redmond Wong, market strategist at investment firm Saxo, sees several opportunities to play the market. Boom in green transformation Beyond the traditional sectors, Saxo's Wong is watching an up-and-coming area in China: energy security and a green transformation. Data from the International Energy Agency shows that the Asian giant's clean-energy sectors contributed 11.4 trillion Chinese yuan ($1.6 trillion) to the Chinese economy in 2023, up 30% year-on-year.

Persons: Redmond Wong, Saxo, I'm, Wong, Saxo's Wong, Morningstar, Zijin Organizations: CNBC Pro, Monetary Fund, Technology, Shenzhen, Baidu, Sands, Tsingtao, Morningstar, Tsingtao Brewery, International Energy Agency, Companies, Zijin Mining Locations: Shanghai, Hong Kong, China, Zhejiang, Sands China, Macao, Shandong

☆ China may be making more advanced chips despite U.S. sanctions — but it still faces big problems
▼ + stars: | 2024-02-12 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +3 min

In this article 981-HK Follow your favorite stocks CREATE FREE ACCOUNTA Chinese flag next to a printed circuit board with semiconductor chips. Florence Lo | ReutersChina's biggest chipmaker SMIC seems to have been manufacturing advanced chips in the last few months — defying U.S. sanctions designed to slow down Beijing's progress. But last week, the Financial Times reported that SMIC is setting up new production lines to make 5 nanometer chips for Huawei. So when the Huawei Mate 60 came out last year with a 7 nanometer chip, that raised a lot of eyebrows. One expert told CNBC at the time that SMIC is likely using older chipmaking tools to make more advanced chips.

Persons: Lo, SMIC, Paul Triolo, Albright Stonebridge Organizations: HK, Reuters China's, Huawei, Semiconductor Manufacturing, Co, Financial Times, China's, CNBC Locations: U.S

☆ OpenAI CEO Sam Altman seeks as much as $7 trillion for new AI chip project: WSJ
▼ + stars: | 2024-02-09 | by ( Hayden Field | ) www.cnbc.com time to read: +2 min

OpenAI CEO Sam Altman is seeking trillions of dollars in investments to overhaul the global semiconductor industry, The Wall Street Journal reported. Altman could need to raise between $5 trillion and $7 trillion for the endeavor, The Wall Street Journal reported, citing one source. Nvidia has been the big moneymaker during the past year's generative AI boom, with its market cap more than tripling in 2023. Nvidia currently controls about 80% of that AI chip market with a current market cap of about $1.72 trillion, not far from overtaking tech giants like Amazon and Alphabet in market cap. Since then, OpenAI has announced a new board, including former Salesforce co-CEO Bret Taylor, former Treasury Secretary Larry Summers and Quora CEO Adam D'Angelo.

Persons: Sam Altman, Altman, OpenAI, OpenAI's ChatGPT, Brad Lightcap, Lightcap, ChatGPT, OpenAI's, Bret Taylor, Larry Summers, Adam D'Angelo, Read Organizations: Street Journal, United, United Arab Emirates, CNBC, Nvidia, Fortune, Microsoft Locations: —, United Arab

☆ White House investing $5 billion in chips: Here's what to know
▼ + stars: | 2024-02-09 | 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 EmailWhite House investing $5 billion in chips: Here's what to knowRonnie Chatterji, Duke University distinguished professor and former White House Chips Coordinator, joins 'Squawk Box' to discuss the Biden administration's $5 billion investment in chips, how the money is being spent, the impact on the semiconductor industry, news of Sam Altman looking to fund AI chips, and more.

Persons: Ronnie Chatterji, Sam Altman Organizations: White, Duke University, Biden

☆ OpenAI's Altman in Talks to Raise Funds for Chips, AI Initiative - WSJ
▼ + stars: | 2024-02-08 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +1 min

(Reuters) -OpenAI CEO Sam Altman is in talks with investors, including the UAE, to raise funds for a tech initiative to boost the world's chip-building capacity and expand its ability to power AI, among other things, the Wall Street Journal reported on Thursday. The project could require raising as much as $5 trillion to $7 trillion, the report added, citing people familiar with the matter. Altman's fundraising plans are aimed at solving constraints to OpenAI's growth, including the scarcity of artificial intelligence (AI) chips required to train large language models behind systems such as ChatGPT, the WSJ reported. War in Israel and Gaza View All 206 ImagesThe Semiconductor Industry Association (SIA) has forecast a 13.1% jump in global chip sales to $595.3 billion this year, compared with a drop of about 8% in sales in 2023. The amounts Altman has discussed are outlandishly large by the standards of corporate fundraising, the report added.

Persons: Sam Altman, Altman, Gnaneshwar Rajan, Rashmi Aich Organizations: Reuters, Wall Street, Microsoft, Semiconductor Industry Association, SIA Locations: UAE, Israel, Gaza, OpenAI, Bengaluru

☆ American Firms Invested $1 Billion in Chinese Chips, Lawmakers Find
▼ + stars: | 2024-02-08 | by ( Ana Swanson | Erin Griffith | ) www.nytimes.com time to read: +1 min

A congressional investigation has determined that five American venture capital firms invested more than $1 billion in China’s semiconductor industry since 2001, fueling the growth of a sector that the United States government now regards as a national security threat. Funds supplied by the five firms — GGV Capital, GSR Ventures, Qualcomm Ventures, Sequoia Capital and Walden International — went to more than 150 Chinese companies, according to the report, which was released Thursday by both Republicans and Democrats on the House Select Committee on the Chinese Communist Party. The investments included roughly $180 million that went to Chinese firms that the committee said directly or indirectly support Beijing’s military. That includes companies that the U.S. government has said provide chips for China’s military research, equipment and weapons, such as Semiconductor Manufacturing International Corporation, or SMIC, China’s largest chipmaker. The report by the House committee focuses on investments made before the Biden administration imposed sweeping restrictions aimed at cutting off China’s access to American financing and technology.

Persons: Walden International —, Biden Organizations: —, GSR Ventures, Qualcomm Ventures, Sequoia Capital, Walden International, Republicans, Democrats, Chinese Communist Party, Semiconductor Manufacturing International Corporation Locations: United States

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