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☆ Stock futures are little changed Wednesday night: Live updates
▼ + stars: | 2023-08-16 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange on August 16, 2023 in New York City. Stock futures were near flat on Wednesday night as investors digested the Federal Reserve's latest commentary that future rate hikes are not out of the picture. Futures tied to the Dow Jones Industrial Average added 20 points, or 0.06%. S&P 500 futures traded near the flat line, while Nasdaq 100 futures inched lower by 0.07%. Wolfspeed plunged 14% following the company's fiscal fourth-quarter earnings report, which missed expectations on the bottom line.

Persons: Wolfspeed, Sam Stovall Organizations: New York Stock Exchange, Stock, Dow Jones, Nasdaq, Computer, Cisco Systems, Dow, CFRA, Walmart, Ross, Applied, Keysight Technologies, Traders Locations: New York City

☆ Hedge funds beefed up A.I. bets in the second quarter
▼ + stars: | 2023-08-15 | by ( Samantha Subin | ) www.cnbc.com time to read: +5 min

2023 has been the year for artificial intelligence stocks, and hedge funds in the second quarter beefed up their bets on the growth sector despite its sharp run up this year. Doubling down on Big Tech Despite the uptick in tech shares by the end of the first half, many hedge funds amped up their bets on Alphabet during the second quarter. David Tepper's Appaloosa bet big on AI winners , growing positions in Alphabet, Amazon , Meta Platforms and Microsoft during the period. Betting on chip stocks Nvidia shares have popped 200% as the company triumphs as AI chipmaker to beat this year. Beyond these pure-play AI bets, Coleman added to semiconductor Lam Research .

Persons: Bill Ackman's, Dan Loeb's, David Tepper's, Baupost's Seth Klarman, Philippe Laffont's Coatue, Tiger Global's Chase Coleman, Mark Zuckerberg's, Dan Sundheim's, Ole Andreas Halvorsen, Loeb, Coleman, Sundheim, Baupost, Keith Meister's, Laffont, Yun Li, Sarah Min, Brian Evans Organizations: Big Tech, Microsoft, Tiger Cub, Management, Apple, Amazon, Facebook, Meta, Nvidia, Devices, Viking, Taiwan Semiconductor, Micron Technology, AMD, Intel, Qualcomm, Broadcom, Marvell Technology, Materials, Global, Lam Research, Netflix, Viking Global, NXP Semiconductors, Semiconductor Locations: Apple, Amazon

☆ Here are the 13 stocks Jim Cramer is watching, including Palo Alto, Eli Lilly, Boeing
▼ + stars: | 2023-08-14 | by ( Jim Cramer | ) www.cnbc.com time to read: +2 min

AMC (AMC): judge rules in favor of APEs. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Morgan Stanley, Eli Lilly, Bang, Goldman Sachs, David Solomon, Jim Cramer's, Jim Cramer, Jim Organizations: Alto Networks, UBS, Analysts, Mounjaro, Comcast, Union, AMAT, Nvidia Boston Properties, AMC, Boeing, Bank of America, Northrop, Parsons, Beverage, HSBC, New York Times, Jim Cramer's Charitable, CNBC Locations: Susquehanna

☆ What we want to see from retail sales and 3 Club earnings in the week ahead
▼ + stars: | 2023-08-12 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

State of the consumer: Retail sales for July are out on Tuesday. Key retail earnings reports from Walmart (WMT), Target (TGT) and Tapestry (TPR) will also provide clues on the health of the consumer. Earnings : On Wednesday morning, we hear from Club holding TJX Companies (TJX). Prior retail sales data has shown monthly sales growth at clothing and clothing accessory stores accelerate throughout the quarter, rising 0.14% monthly in April, 0.3% in May and 0.6% in June. For those looking to review first-quarter performance ahead of these releases, be sure to keep our first-quarter earnings report card handy.

Persons: We'll, Estee Lauder, we've, Palo, Cardinal Health, JD.com, Brinker, BILL, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Nasdaq, Dow Jones, Investors, Walmart, TJX Companies, Palo Alto Networks, Embraer, Energy, Getty, Sea Ltd, Cardinal, Nu Holdings, Housing, ZIM, Food, Colgate, Palmolive, Cisco Systems, Chemical & Mining, Keysight Technologies, Ross Stores, Deere & Company, Alto Networks, Jim Cramer's Charitable, CNBC Locations: China, Dole, DOLE, Manhattan, New York City

☆ Stocks making the biggest moves midday: News Corp, Alibaba, Applied Materials and more
▼ + stars: | 2023-08-11 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

News Corp — The media company's shares jumped nearly 4% after reporting an earnings beat in the fiscal fourth quarter. Meanwhile, the company's revenue of $2.43 billion missed analysts' forecast of $2.49 billion. Chip stocks — Semiconductor shares dropped more than 2% Friday, putting the sector on pace for a weekly decline of 4.5%. The decline comes after shares rose nearly 3% in the previous session on the back of the company's earnings announcement. Kura Oncology — The biotech company's shares rose 4% after Bank of America initiated coverage of Kura with a buy rating in a Friday note.

Persons: Refinitiv, Alibaba, Krispy, Morgan Stanley, DigitalOcean, —, Alex Harring, Yun Li Organizations: Artificial Intelligence, News Corp, News, UBS —, UBS, Credit Suisse, Swiss National Bank, — Semiconductor, VanEck Semiconductor, NXP, Lam Research, Materials, Nvidia, Semiconductor, FactSet, Wynn Resorts, Caesars Entertainment, JPMorgan, Mizuho, Capri Holdings, Kura Oncology, Bank of America, Holdings Locations: Shanghai, China, U.S, Coinbase, Kura

☆ Retailers take center stage in the week ahead, as Wall Street turns to the consumer for a much-needed boost
▼ + stars: | 2023-08-11 | by ( Sarah Min | ) www.cnbc.com time to read: +8 min

A raft of economic data and big retail earnings reports next week will give traders insight into the strength of the consumer after a mixed batch of inflation data. "Next week is all about the consumer," said Shannon Saccocia, investment chief at NB Private Wealth. The Nasdaq Composite fell for a second straight week for the first time in 2023 after mixed inflation data this week, as well as Moody's downgrading several regional banks. July's consumer price index came in weaker than expected, but continued to show some underlying stickiness. Housing data expected to show strength Investors will also watch data on what has been a strong housing market.

Persons: Shannon Saccocia, Saccocia, —, we've, John Porter, it's, Wealth's Saccocia, Kate Spade, Stuart Weitzman, Versace, Jimmy Choo, Michael Kors, That's, Sam Stovall, Stovall, CFRA's Stovall, Estee Organizations: Home Depot, Walmart, Federal Reserve, Nasdaq, Dow Jones, Newton Investment Management, FactSet, . Discount, TJX Companies, Ross, Homeowners, Price, Retail, Health, Home, Agilent Technologies, Housing, Manufacturing, TJX, Target, Cisco Systems, Philadelphia Fed, Applied, Deere, Co, Companies, Palo Alto Locations: U.S, NAHB, Housing States

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

☆ Factbox: Taiwanese giant Foxconn's growing interest in India
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration//File PhotoNEW DELHI, Aug 3 (Reuters) - Foxconn (2317.TW) has rapidly expanded its presence in India by investing in locations in the south of the country for its manufacturing facilities, as the Taiwanese giant seeks to move away from China. Foxconn, the leading contract manufacturer of electronics, already has an iPhone factory in Tamil Nadu, which employs 40,000 people. Here are some of the areas where the company has invested, according to announcements and sources familiar with its plans. APPLE ASSEMBLYFoxconn plans to make casing components for iPhones at a new Karnataka facility with $350 million in investment that will generate 12,000 jobs. MOBILE COMPONENTSFoxconn has signed a deal on Monday with southern state of Tamil Nadu to invest 16 billion rupees ($194 million) in a new electronic components manufacturing facility that will create 6,000 jobs.

Persons: Dado Ruvic, Foxconn, Narendra Modi's, Tanvi Mehta, Barbara Lewis Organizations: REUTERS, APPLE ASSEMBLY, Apple, Reuters, Applied Materials, Vedanta, Thomson Locations: India, China, Tamil Nadu, Karnataka, Gujarat, Thailand

☆ iPhone maker Foxconn to invest $600 million into phone and chip project in India
▼ + stars: | 2023-08-02 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Foxconn will invest more than $600 million in India as part of a phone manufacturing project and separately a semiconductor equipment facility, according to the government of the state of Karnataka. The phone project will create employment opportunities for 12,000 people, Patil said, while the semiconductor facility will generate employment for 1,000 people. Foxconn has also, with little success so far, tried to enter the semiconductor manufacturing area. Applied Materials was not immediately available for comment. Modi attended a semiconductor event in India last week, at which senior executives from big U.S. chip firms including Applied Materials and AMD were present.

Persons: Foxconn, B Patil, Patil, Narendra Modi, Modi, Young Liu Organizations: Materials, Vedanta, CNBC, Applied Materials, AMD Locations: Krakow, Poland, India, Karnataka, 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

☆ 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

☆ Lam Research forecasts strong quarterly revenue on AI boom
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +1 min

July 26 (Reuters) - Chip-making tools supplier Lam Research (LRCX.O) forecast quarterly revenue above Wall Street estimates, as semiconductor makers scramble to meet a surge in demand fueled by rising adoption of artificial intelligence (AI) technology. The company expects first-quarter revenue of $3.4 billion plus or minus $300 million, above expectations of $3.3 billion, according to IBES data from Refinitiv. The AI boom has also helped chipmakers cushion a post-pandemic downturn in demand for personal computers and smartphones. Lam reported fourth-quarter revenue of $3.21 billion, lower than $4.64 billion last year but above market expectations of $3.13 billion. Excluding items, the company posted a profit of $5.97 per share, compared with estimates of $5.07.

Persons: OpenAI's ChatGPT, Lam, Akash Sriram, Devika Organizations: Lam Research, Materials, Thomson Locations: Lam, Bengaluru

[1/3] 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 DaveGANDHINAGAR, India July 26 (Reuters) - Top executives from Foxconn and semiconductor firms Micron and AMD will this week attend a conference in Prime Minister Narendra Modi's home state, as the government tries to lure investments into India's nascent chip industry. Modi will inaugurate the annual SemiconIndia conference in Gandhinagar, in western state of Gujarat, on Friday. The event comes just weeks after Foxconn backed out of a $19.5 billion chips joint venture with Vedanta, saying "the project was not moving fast enough". Which explains the skepticism of global chip giants to come here and set shop," said Arun Mampazhy, a former India manager of U.S.-based chipmaker GlobalFoundries.

Persons: Amit Dave GANDHINAGAR, Narendra Modi's, Modi, Young Liu, Sanjay Mehrotra, Mark Papermaster, Foxconn, Arun Mampazhy, Munsif, Sumit Khanna, Aditya Kalra Organizations: Materials, Micron Technology, REUTERS, Micron, AMD, Vedanta, Devices, Semiconductor, Thomson Locations: Gandhinagar, India, Taiwan, Gujarat, Bengaluru

☆ Domino's Pizza is among the most overbought stocks on Wall Street. Here are the others
▼ + stars: | 2023-07-22 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Domino's Pizza and Zions Bancorporation are among some of the most overbought stocks on Wall Street this week, as the S & P 500 rose about 0.7%. The RSI measures the speed and size of a stock's price change and can be used to separate the most overvalued and undervalued securities. Wall Street considers a stock overbought and due for a potential pullback when its RSI pushes above 70. Paychex finished the week as the most overbought stock in the index. Other overbought stocks included Zions Bancorporation.

Persons: Paychex, it's Organizations: Wall, Global, Discover Financial, Deposit Insurance Corporation, Ford Motor, Nike, Verizon, Seagate Technology, Equifax, Materials

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

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

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

☆ Here are Friday's biggest analyst calls: Apple, Nvidia, AT&T, Tesla, Disney, Amazon, Microsoft & more
▼ + stars: | 2023-07-14 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

JPMorgan downgrades AT & T to neutral from overweight JPMorgan downgraded the telecommunications due to "slowing growth drivers." Wells Fargo downgrades Progressive to equal weight from overweight Wells said it has concerns about the insurance company gaining share. UBS upgrades Microsoft to buy from neutral UBS said in its upgrade of the stock that shares are too attractive to ignore. Bank of America reiterates Amazon as buy Bank of America said it's standing by its buy rating after the company's Prime Day. JPMorgan reiterates Apple as overweight JPMorgan said recent checks show that Apple has "strong market share" in a variety of markets.

Persons: LOE, Wells, it's, Tesla, Morgan Stanley, Goldman Sachs, Goldman, Raymond James, Robert Iger, Mills, Argus Organizations: HSBC, Pfizer, ADC, JPMorgan downgrades, Verizon, Mobile, Consumer, JPMorgan, Alcoa, UBS, Microsoft, Citi, Applied Materials Citi, Bank of America, Texas Roadhouse Citi, Texas, Barclays, Apple, Sands, Macau, Northland, Nvidia, Pulte, KB, Disney, CNBC, DIS, Argus, TNT, Tidewater Locations: Wells Fargo, China, Northland

☆ Applied Materials aims to boost chip factory productivity with new tech
▼ + stars: | 2023-07-11 | by ( Stephen Nellis | ) www.reuters.com time to read: +2 min

Applied Materials announced the new system at a chipmaking conference in San Francisco. The United States is poised to deploy tens of billions of dollars in subsidies on chip factories and European Union lawmakers were set to enact similar legislation. "You're trying to get more productivity, a smaller footprint, the intelligence and energy savings for those applications," Rice said of memory chips. "It's going to continue to grow ... but for right now, it's started out with mostly the leading memory" factories, he said. Reporting by Stephen Nellis in San Francisco Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Mike Rice, Rice, it's, Stephen Nellis, Matthew Lewis Organizations: FRANCISCO, Materials, European Union, San, Thomson Locations: San Francisco, United States

☆ Dutch curb chip equipment exports, drawing Chinese ire
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +4 min

"We have taken this step in the interest of our national security" said Dutch Trade Minister Liesje Schreinemacher, adding such equipment may have military applications. Schreinemacher said a "very limited" number of companies and product models would be affected, and China was not named. But the Chinese Embassy in the Netherlands described the move as an "abuse of export control measures" that violate trade rules. ASM International, which makes atomic layer deposition tools, said it did not expect a material change to its forecasts as a result of the Dutch rules, which also discuss that technology. The new Dutch list may later be adopted by other European countries or added to the EU list, though few European firms export high-end chipmaking equipment.

Persons: ASML, Liesje Schreinemacher, Schreinemacher, Toby Sterling, Louise Heavens, Mark Potter Organizations: Dutch Trade, Embassy, U.S, Washington, ASM International, Lam Research, Materials, Reuters, Union, EU, Zeiss, Thomson Locations: China, AMSTERDAM, U.S, Beijing, Netherlands, Dutch, Japan, Taiwan, ASML

☆ 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

☆ 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

☆ Chip stocks smacked as U.S. mulls fresh curbs on AI access to China
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +2 min

Nvidia fell 4%, Advanced Micro Devices 3.3% and Intel 0.7%, while futures tracking the tech-heavy Nasdaq 100 index edged 0.5% lower. The new restrictions being considered by the Commerce Department would include a ban on the sale of Nvidia's advanced chip called A800 without a special U.S. export license. The Philadelphia chip index (.SOX) has surged more than 44% so far this year, far ahead of the benchmark index's (.SPX) 14% rise. Among other chip stocks, Marvell Technology (MRVL.O), Applied Materials (AMAT.O), Intel (INTC.O), Microchip Technology (MCHP.O) fell between 1.1% and 3% on Wednesday. Across the Atlantic, Nordic Semiconductor (NOD.OL), Dutch chipmaker ASML (ASML.AS), Milan-listed STMicroelectronics , however, gained between 1.2% and 2%.

Persons: chipmakers, Biden, Susannah Streeter, Hargreaves Lansdown, Medha Singh, Arun Koyyur Organizations: Companies, Nvidia, Devices, Intel, U.S ., Commerce Department, Wall Street, AMD, Marvell Technology, Materials, Technology, Nordic Semiconductor, Thomson Locations: China, U.S, Philadelphia, Milan, Bengaluru

☆ Amazon raises investment in India to $26 bln by 2030
▼ + stars: | 2023-06-24 | by ( ) www.reuters.com time to read: +2 min

[1/2] A man walks past a logo of Amazon Prime Video during a launch event in Mumbai, India, April 28, 2022. Earlier, Amazon had announced a $6.5 billion investment plan, largely to boost its e-commerce business where it competes with Walmart's Flipkart and billionaire Mukesh Ambani's Reliance Retail. The new investment amount committed now comes to around an additional $6.5 billion. The e-commerce giant's announced investment during Modi's trip adds to other companies, including U.S. semiconductor toolmaker Applied Materials and memory chip firm Micron Technology, which have made commitments during the Indian prime minister's state visit. Modi and Jassy spoke about supporting Indian startups, creating jobs, enabling exports, digitisation, and empowering individuals and small businesses to compete globally, an Amazon blog post said.

Persons: Francis Mascarenhas, Andy Jassy, Narendra Modi, Jassy, Walmart's Flipkart, Mukesh Ambani's, Modi, Sundar Pichai, Tim Cook, Google's, Satya Nadella, Aditya Kalra, William Mallard, Jacqueline Wong, Toby Chopra Organizations: Amazon Prime, REUTERS, Amazon.com Inc, Web Services, Amazon, giant's, Micron Technology, Google, Reuters, Twitter, U.S, Thomson Locations: Mumbai, India, DELHI, United States, U.S, City, India's, Gujarat, Washington

☆ Apple's Tim Cook calls India 'huge opportunity' after tech meeting at White House with Prime Minister Modi
▼ + stars: | 2023-06-23 | by ( Seema Mody | ) www.cnbc.com time to read: +3 min

US President Joe Biden looks on as India's Prime Minister Narendra Modi speaks during a meeting with senior officials and CEOs of American and Indian companies, in the East Room the White House in Washington, DC, on June 23, 2023. The tech company execs spent over an hour with Prime Minister Narendra Modi inside the White House on Friday, discussing opportunities and challenges in investing in India. After the meeting concluded at the White House, Apple CEO Tim Cook told CNBC that India represents a "huge opportunity." It was the first state visit to the U.S. for Modi, who became prime minister in 2014. Following Friday's meeting, the White House said Google will be working with the Indian Institute of Science on open sourcing of speech data for artificial intelligence models.

Persons: Joe Biden, Narendra Modi, Biden, execs, Modi, Elon Musk, Tim Cook, Sam Altman, Altman, Hemant Taneja, Catalyst, Taneja, Kenneth Juster, who's Organizations: India's, Apple, Microsoft, Tesla, White, CNBC, Google, Indian Institute of Science, U.S, Micron, Applied Materials, Research, Council, Foreign Relations, Biden Locations: Washington ,, India, U.S, Washington, China, Gujarat

But all the deals and pomp of the visit — including an address to Congress and a lavish state dinner — may not have accomplished what the White House had wanted. U.S. leaders gave Modi a hearty welcome, as Washington seeks to nudge India further into the American sphere of influence. “The partnership is among the most consequential in the world,” Biden said at a news conference on Thursday. Biden and Modi largely brushed off criticism of the Indian government’s crackdown on human rights and religious freedom. And Modi made no pledges to endorse U.S. efforts to restrain China, nor to cut ties to Russia.

Persons: Modi, ” Biden, Dave Calhoun, Larry Culp, G.E, James Taiclet, Lockheed Martin, Sam Altman, OpenAI, Tim Cook, Sanjay Mehrotra, Sundar Pichai, Lisa Su, Ken Chenault, Jane Fraser, Adena Friedman, Deven Parekh, Hemant Taneja, ” Taneja, DealBook, Biden Organizations: White, General Electric, chipmakers, Micron, Materials, World Trade Organization, America, Boeing, Lockheed, Tech, Apple, Citigroup, Nasdaq, Insight Venture Partners, Catalyst, The Times, House Locations: India, China, Russia, U.S, Washington, portobello, United States

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