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☆ Nvidia hit the quarter and guidance out of the park. We don't see that changing
▼ + stars: | 2023-11-21 | by ( Zev Fima | ) www.cnbc.com time to read: +11 min

Bottom line This was a very strong quarter, with almost nothing to nitpick. This year's rapid Data Center sales growth we've seen has been driven largely by cloud providers and enterprises. Sales to China and other impacted regions have, in the past few quarters, accounted for 20% to 25% of Data Center sales. However, the team added that they "believe the decline will be more than offset by strong growth in other regions." Guidance Looking ahead to Nvidia's fourth quarter of fiscal 2024, we once again got far stronger guidance than Wall Street was modeling.

Persons: We're, Ada Lovelace, Jim Cramer's, Jim Cramer, Jim, Jensen Huang Organizations: Nvidia, Revenue, Automotive, Data Center, Microsoft, Oracle, U.S, Data, Gaming, Ada, Nvidia's Automotive, Wall, CNBC, Getty Locations: China, Taiwan

☆ Chipmaker Analog Devices' forecasts held back by inventory corrections
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +2 min

Analog Devices' logo is pictured on a smartphone in this illustration taken, December 4, 2021. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 21 (Reuters) - Chipmaker Analog Devices (ADI.O) projected first-quarter revenue and profit below market estimates on Tuesday, as it grapples with the ongoing supply glut in the semiconductor industry. Inflation-hit customers have refrained from placing new orders for chips, leading to excess supply at companies such as Analog Devices after a pandemic-driven buying spree fizzled out. First-quarter adjusted earnings are expected to be $1.70 per share, plus or minus 10 cents, below analysts' average estimates of $1.90. Cautious spending by automakers fearing a slowdown in their electric-vehicle businesses has also weighed on orders at Analog Devices.

Persons: Dado Ruvic, Vincent Roche, Arsheeya, Tasim Zahid Organizations: REUTERS, Texas, Analog Devices, Thomson Locations: Bengaluru

☆ Morning Bid: Nvidia takes the stage as equity rally pauses
▼ + stars: | 2023-11-21 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +3 min

The logo of NVIDIA as seen at its corporate headquarters in Santa Clara, California, in May of 2022. Courtesy NVIDIA/Handout via REUTERS/File Photo Acquire Licensing RightsNov 22 (Reuters) - A look at the day ahead in Asian markets from Lewis Krauskopf, markets correspondent. A rally in stocks took a breather ahead of Wednesday's session in Asia as U.S. investors mostly shrugged off minutes from the Federal Reserve's latest meeting. Still, major U.S. equity indexes ended lower on the day. Its shares have been one of the Magnificent Seven megacap stocks whose massive gains have propelled equity indexes higher this year, with Nvidia hitting a record high this week ahead of its results.

Persons: Lewis Krauskopf Organizations: NVIDIA, Handout, REUTERS, Federal, U.S, Fed, Nasdaq, Nvidia, Japan's Nikkei, greenback, Thomson, Reuters Locations: Santa Clara , California, Lewis, Asia, U.S, Shanghai, Singapore, Taiwan

Taiwan's APEC envoy Morris Chang attends a press conference during the APEC (Asia-Pacific Economic Cooperation) Summit in San Francisco, California, U.S. November 17, 2023. REUTERS/Carlos Barria Acquire Licensing RightsSAN FRANCISCO, Nov 17 (Reuters) - Taiwan's APEC envoy Morris Chang said on Friday that he had informal interactions with U.S. President Joe Biden and discussions with Secretary of State Antony Blinken at a summit in San Francisco, but none with Chinese President Xi Jinping. The White House has not elaborated on those conditions, but Biden asked Xi to respect Taiwan's presidential election process next year, according to a U.S. official. Taiwan's envoy Chang said he supported those U.S. export controls on China. Reporting by Michael Martina in San Francisco and Ben Blanchard in Taipei; Editing by Chris Reese, Kim Coghill and Tom HogueOur Standards: The Thomson Reuters Trust Principles.

Persons: Morris Chang, Carlos Barria, Joe Biden, Antony Blinken, Xi Jinping, Chang, Kamala Harris, Xi, Biden, Blinken, Fumio Kishida, Wang Wentao, Michael Martina, Ben Blanchard, Chris Reese, Kim Coghill, Tom Hogue Organizations: APEC, Economic Cooperation, REUTERS, FRANCISCO, U.S, Japanese, Biden, China's, Thomson Locations: Asia, San Francisco , California, U.S, San Francisco, Taiwan, Taipei, Beijing, Thailand, China, United States, Washington

☆ To Become a World-Class Chipmaker, America Might Need Help - The New York Times
▼ + stars: | 2023-11-17 | by ( Peter Coy | ) www.nytimes.com time to read: +2 min

I’m going to decline a $2.25 order in almost every instance. L.A. SchwartzUnion, Ky.You quoted the great economist Frank Knight. Here is a story about Frank Knight and George Stigler you might find interesting. In 1962 I was a research assistant to George Stigler at the University of Chicago. I now have a copy of ‘The Wealth of Nations’ that I can prove was read by Frank Knight.”

Persons: Adam Ozimek, ”, I’m, L.A, Frank Knight, George Stigler, Adam Smith’s “, ” Knight, Stigler, Knight, George, “ Organizations: Economic Innovation, Schwartz Union, University of Chicago, Nations Locations: United States, Ky

☆ 3 things to know about the most important relationship in the global economy
▼ + stars: | 2023-11-15 | by ( Michelle Toh | ) edition.cnn.com time to read: +10 min

Even so, finding ways to “get back on a normal course” — in the words of Biden — matters hugely to the global economy. He also pointed to some American companies leaving China altogether, such as asset management giant Vanguard. In the third quarter, a measure of foreign direct investment into China turned negative for the first time in 25 years. The country is by far the world’s biggest gallium producer, and a leading global producer of germanium, according to the US Geological Survey. Listed American companies with big business in China, such as Apple (AAPL) and Tesla (TSLA), may face higher scrutiny, too.

Persons: Joe Biden, Xi Jinping, “, Biden, ”, Scott Kennedy, Chenggang Xu, California Justin Sullivan, Xu, Gina Raimondo, Adam Glanzman, Zongyuan Zoe Liu, Donald Trump, Liu, … Organizations: Hong Kong CNN —, Economic Cooperation, CNN, Center for Strategic, International Studies, Stanford Center, China’s, Shipping, Port, Association of Southeast Asian Nations, European Union, American Chamber of Commerce, Vanguard, Companies, US, Nvidia, Semiconductor Industry Association, Bloomberg, Getty, Geological Survey, Council, Foreign Relations, Communist Party of China Finances, Capital, Apple, Chinese Communist Party, China Economic, Security, Commission, Biden, CFR Locations: China, Hong Kong, San Francisco, Asia, United States, Mexico, Canada, Port of Oakland, California, Shanghai, Ukraine, Moscow, Washington, Beijing, American, New York, US, Japan, Netherlands, Sequoia

The Energy Department is making a push to strengthen the U.S. battery supply chain, announcing up to $3.5 billion for companies that produce batteries and the critical minerals that go into them. Some officials, industry experts and others concerned about climate change uneasy supply of battery materials will not keep pace with demand. The Bipartisan Infrastructure Law assigned $6 billion in total funding for battery material processing and manufacturing. An initial round went to 15 projects including companies that mine critical minerals like graphite and nickel, used in lithium batteries. Tom Moerenhout, a professor at Columbia University's Center on Global Energy Policy, said it will be a big challenge to ramp up the global supply of critical minerals for the projected battery demand in 2030.

Persons: Harris, Jodie Lutkenhaus, “ I’m, ”, ” Lutkenhaus, Matthew McDowell, Tom Moerenhout, “, Moerenhout Organizations: Energy Department, DOE, Biden, Texas, M University, Infrastructure Law, Georgia Institute of Technology, Columbia University's Center, Global Energy, Companies, ____, AP Locations: Asia, Albemarle, Kings Mountain , North Carolina, U.S

☆ Analysis: Biden on China vs. Trump on China
▼ + stars: | 2023-11-14 | by ( Analysis Zachary B. Wolf | ) edition.cnn.com time to read: +8 min

Biden called out Chinese President Xi Jinping by name in his State of the Union address earlier this year as he slammed autocracies. How about the former US president, Donald Trump, who is desperately trying to become a world leader once again? As president, Trump supported Taiwan in numerous ways, but there is some indication he could return to a more strategically ambiguous position. “We’re not trying to decouple from China,” Biden told reporters Tuesday. There’s nobody in Hollywood that can play the role of President Xi.

Persons: Joe Biden, Biden, Xi Jinping, autocracies, Xi, ” Biden, Donald Trump, Trump, “ He’s, ” Trump, “, didn’t, –, Sullivan, China Biden, Taiwan “, Nancy Pelosi, Jake Sullivan, CNN’s Dana, Josh Rogin, San Francisco –, ” Rogin, Feedback Biden, We’re, Xi Trump, Vladimir Putin, Kim Jong Un Organizations: CNN, Mar, Taiwan, Trump, Xi, Ukraine, Biden, Communist, Fox News, American, Washington Locations: China, Trump’s, Mexico, Buenos Aires, San Francisco, Asia, Pacific, Ukraine, Russia, Israel, Europe, Taiwan, Beijing, “ State, US, New Hampshire, Hollywood, Mar, Syria

☆ China receives US equipment to make advanced chips despite new rules-report
▼ + stars: | 2023-11-14 | by ( Alexandra Alper | ) www.reuters.com time to read: +3 min

Flags of China and U.S. are displayed on a printed circuit board with semiconductor chips, in this illustration picture taken February 17, 2023. REUTERS/Florence Lo/Illustration/File Photo Acquire Licensing RightsWASHINGTON, Nov 14 (Reuters) - Chinese companies are buying up U.S. chipmaking equipment to make advanced semiconductors, despite a raft of new export curbs aimed at thwarting advances in the country's semiconductor industry, a congressional report said on Tuesday. China watchers had theorized that SMIC could have made the chip with equipment obtained prior to the October 2022 rules, but it had other options for obtaining the equipment from oversees, the report shows. The United States managed to plug a key loophole in its efforts to stymie China's access to advanced chipmaking tools by convincing allies Japan and the Netherlands, with similarly robust chipmaking equipment industries, to announce their own restrictions on exports of the coveted technology. China's imports of semiconductor equipment from all countries totaled $13.8 billion (RMB 100 billion) over the first eight months of 2023, it added.

Persons: Florence Lo, United States scrambles, SMIC, Alexandra Alper, Chizu Organizations: REUTERS, Rights, U.S, Biden, Commerce Department, Huawei, SMIC, United, Office, Thomson Locations: China, U.S, United States, Netherlands, Japan

[1/5] U.S. President Joe Biden meets with Indonesian President Joko Widodo for talks on regional security and clean-energy transition, among other things, in the Oval Office at the White House in Washington, U.S., November 13, 2023. Biden greeted Indonesian President Joko Widodo at the White House as the two leaders prepare for a Asia-Pacific Economic Cooperation (APEC) summit in San Francisco, where Washington hopes to reduce friction with Beijing. But the Biden administration is still concerned about environmental, social and governance (ESG) standards in Indonesia and is examining how such a deal might work. INDONESIA MAKES APPEAL TO U.S. ON GAZAJokowi, as the president is known, is also expected to press Biden on steps to end Israel's war with Hamas. Ceasefire is a must for the sake of humanity," Widodo said in the Oval Office before talks with Biden.

Persons: Joe Biden, Joko Widodo, Leah Millis, Joe Biden's, Xi Jinping, Biden, Xi, Widodo, Jokowi, Trevor Hunnicutt, Steve Holland, Michael Perry, Grant McCool Organizations: White, REUTERS, Rights, U.S, Economic Cooperation, Biden, Reuters, Thomson Locations: Washington , U.S, United States, Indonesia, Asia, San Francisco, Washington, Beijing, United, INDONESIA, GAZA, Gaza, Israel, Southeast Asia, China, Jakarta, Myanmar

☆ China's largest chipmaker SMIC posts a 80% drop in third-quarter profit
▼ + stars: | 2023-11-10 | by ( Sheila Chiang | ) www.cnbc.com time to read: +2 min

BEIJING, CHINA - DECEMBER 04: A logo hangs on the building of the Beijing branch of Semiconductor Manufacturing International Corporation (SMIC) on December 4, 2020 in Beijing, China. (Photo by VCG/VCG via Getty Images)China's largest chipmaker SMIC on Thursday posted a 80% drop in third-quarter profit as global demand weakness hit foundries hard. Net income for the quarter plunged 80% compared to a year ago — larger than the 64% drop posted in second quarter 2019, according to company figures. Net income for that period was $93.98 million, far below analysts' expectations of $165.1 million. SMIC is China's biggest foundry, manufacturing semiconductor chips that other firms design.

Organizations: Semiconductor Manufacturing International Corporation, Getty, Semiconductor Manufacturing, Co, Samsung, TSMC Locations: BEIJING, CHINA, Beijing, China, South, U.S

☆ China's SMIC sees lower Q4 gross margin, lifts annual capex forecast
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +1 min

A logo of Semiconductor Manufacturing International Corporation (SMIC) is seen at China International Semiconductor Expo (IC China 2020) following the coronavirus disease (COVID-19) outbreak in Shanghai, China October 14, 2020. REUTERS/Aly Song/File photo Acquire Licensing RightsNov 9 (Reuters) - Semiconductor Manufacturing International Corp (0981.HK) on Thursday lifted its annual capital expenditure forecast to around $7.5 billion and said it expects lower fourth-quarter gross margins. SMIC expects a gross margin of between 16% and 18% in the fourth quarter, compared with 19.8% in the third quarter. Revenue for the third quarter fell to $1.62 billion from $1.91 billion a year ago, but the company expects a sequential increase of 1% to 3% in the fourth quarter. SMIC had previously said it expects capital expenditure in 2023 to be roughly flat compared with 2022, which came in at about $6.35 billion.

Persons: Aly, TSMC, Germany's, SMIC, Nausheen, Devika Organizations: Semiconductor Manufacturing International Corporation, China International Semiconductor, REUTERS, Semiconductor Manufacturing International Corp, HK, SMIC, Revenue, Thomson Locations: Shanghai, China, Bengaluru

☆ Biden’s economic scorecard touts fragile advantage
▼ + stars: | 2023-11-09 | by ( Ben Winck | ) www.reuters.com time to read: +11 min

And if the political strategist James Carville was right that “it’s the economy, stupid,” the next several months could make or break Joe Biden’s economic record. As things stand, the current ruler of the free world touts a fragile advantage. Households’ disposable income after adjusting for inflation hit a record $20 trillion in the month that Biden’s measure was approved, according to the Bureau of Economic Analysis. STUDENT LOANSForgiving swaths of student debt was another of Biden’s campaign promises, but his efforts have so far failed. And with higher interest rates making debt service more expensive, Biden’s spending could come back to bite him on election day.

Persons: Joe Biden, Ken Cedeno, James Carville, Joe Biden’s, “, aren’t, Breakingviews, it’s, Biden, Donald Trump, Mitch McConnell, ”, Realtor.com, Congressional Republicans haven’t, haven’t, WALL, Lauren Silva Laughlin, Sharon Lam, Aditya Sriwatsav Organizations: Edmond's Catholic, REUTERS, Rights, Reuters, House, Republican, AMERICAN, ACT, Brookings Institution, Analysis, Walmart, Nordstrom, Deere, Caterpillar, Republicans, Commerce Department, Micron, Bank of America, Gallup, Federal Reserve, United Auto Workers, RSM, Congressional Republicans, Biden, Reuters Graphics Reuters, Conservative, Thomson Locations: St, Rehoboth Beach , Delaware, U.S, New York, Arizona, West Virginia

Last year, Taiwan's chip industry generated T$4.837 trillion ($150.27 billion) in revenue, nearly half of which came from TSMC, compared with Taiwan's GDP of T$22.667 trillion ($704.21 billion). "Taiwan's limited land and limited energy have always created a lot of pressure," GlobalWafers (6488.TWO) CEO Doris Hsu told reporters. 'FIVE SHORTAGES'The chip industry has long complained about Taiwan's "five shortages": land, water, energy, labour, and talent. Taiwan's government - determined to keep its crown jewel's most advanced technology at home - has said it will provide alternative options. The Longtan expansion had proposed acquiring 159 more hectares in the north, where TSMC and many chip companies are based.

Persons: Wei Hsin, Carlos Garcia Rawlins, Taiwan's, Wang Mei, TSMC, Doris Hsu, Hsu Shih, Rich, Chen Ting, Chen, Liao Chen, Cliff Hou, Isaiah, Lucy Chen, Chen Chi, Sarah Wu, Yimou Lee, Ben Blanchard, Gerry Doyle Organizations: REUTERS, Rights, Taiwan Semiconductor Manufacturing Co, Taiwan's, National Chengchi University, Hsinchu Science Park, Reuters, Residents, TMSC's, Thomson Locations: Longtan, Taoyuan, Taiwan, Rights HSINCHU, LONGTAN, Hsinchu, United States, Japan, Germany, TSMC, Belgium, Arizona, Kaohsiung

☆ Auto Chip Makers Try to Avoid a Pileup
▼ + stars: | 2023-11-07 | by ( Dan Gallagher | ) www.wsj.com time to read: 1 min

Semiconductor sales to the auto industry jumped 16% in 2022. The industry has been mired in a historic slump for more than a year now. The Semiconductor Industry Association, or SIA, reported last week that global chip sales in September fell 4.5% from the same period last year. That made for the 14th straight month of sales declines—a streak not seen in more than a decade. Much of the downturn has been due to weak sales of PCs, smartphones and other consumer and business electronics that saw a rise in demand earlier in the pandemic.

Persons: Justin Sullivan Organizations: Semiconductor Industry Association, SIA

☆ Exclusive: Baidu placed AI chip order from Huawei in shift away from Nvidia -sources
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +4 min

Baidu ordered 1,600 of Huawei Technologies' 910B Ascend AI chips - which the Chinese firm developed as an alternative to Nvidia's A100 chip - for 200 servers, the source said, adding that by October, Huawei had delivered more 60% of the order, or about 1,000 chips, to Baidu. Baidu, alongside Chinese peers such as Tencent (0700.HK) and Alibaba (9988.HK), is known to be a long-time client of Nvidia. Baidu was not previously known to be a AI chip customer of Huawei. Huawei's website says it has since 2020 collaborated with Baidu to make its AI platform compatible with Huawei hardware. Baidu has developed its own line of Kunlun AI chips, which the company says supports large-scale AI computing, but the company has mainly relied on Nvidia's A100 chip to train its LLM.

Persons: Aly, Baidu, Ernie, Yelin Mo, Zhang Yan, Brenda Goh, Josh Ye, Gerry Doyle Organizations: Baidu, Artificial Intelligence, REUTERS, Rights, HK, Huawei, U.S ., Nvidia, Huawei Technologies, U.S, HUAWEI, Reuters, Thomson Locations: Shanghai, China, Rights BEIJING, SHANGHAI, U.S, Beijing, Hong Kong

☆ GlobalFoundries projects profit above estimates in positive sign for chip market
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNov 7 (Reuters) - Contract chipmaker GlobalFoundries (GFS.O) forecast fourth-quarter profit above analysts' estimates on Tuesday, providing the latest sign that a supply glut in the semiconductor industry was easing. Both Intel (INTC.O) and Advanced Micro Devices (AMD.O) have indicated that a recovery is afoot in the personal computer market, a key source of revenue for semiconductor makers. GlobalFoundries said it expects adjusted profit per share to be in the range of 53 cents to 64 cents in the three months to December, above estimates of 52 cents, according to LSEG data. The company, whose customers range from mobile phone chip designer Qualcomm (QCOM.O) to the U.S. Department of Defense, said net revenue fell 11% to $1.85 billion in the third quarter, but came in line with estimates. Adjusted earnings of 55 cents per share beat estimates of 49 cents.

Persons: Brendan McDermid, Thomas Caulfield, GlobalFoundries, Arsheeya, Sriraj Organizations: Nasdaq, REUTERS, Intel, Devices, Qualcomm, U.S . Department of Defense, Thomson Locations: New York City, U.S, Bengaluru

A smartphone with a displayed Intel logo is placed on a computer motherboard in this illustration taken March 6, 2023. The source, who declined to be named because the information was confidential, said Intel had made that decision around July. Intel is also expanding its investment in chip packaging in Malaysia, one of Vietnam's main Southeast Asian rivals. "You cannot take for granted that because Intel has already invested here it will invest more," Chung Seck, partner at law firm Baker & McKenzie Vietnam told Reuters. Asked about the possible investment plan at the time, Intel told Reuters: "Vietnam is an important part of our global manufacturing network, but we have not announced any new investments."

Persons: Dado Ruvic, Joe Biden, Biden's, Tran Luu Quang, chipmakers, Chung Seck, Baker, McKenzie, Francesco Guarascio @fraguarascio, Max Cherney, Khanh, Miyoung Kim Organizations: REUTERS, Rights, Intel, U.S, Reuters, Vietnam's, White House, Marvell, McKenzie Vietnam, Thomson Locations: Rights HANOI, Vietnam, China, Taiwan, United States, U.S, Hanoi, Europe, Malaysia, San Francisco, Khanh Vu

☆ CNBC Daily Open: Markets enjoyed early frost in October’s jobs report
▼ + stars: | 2023-11-06 | 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. Markets reboundStocks and bonds in the U.S. rallied in tandem on Friday as markets digested jobs data and rebounded from October lows. [PRO] Surging semiconductor salesThe semiconductor industry was mired in a supply glut for the most of last year. For one, there was a 13% month on month jump in September's semiconductor sales to $46.9 billion.

Persons: nonfarm, That's, Korea's Kospi, Musk's Grok Elon, Grok, Berkshire Hathaway Organizations: CNBC, KPMG, Citi Locations: U.S, Asia, Pacific

☆ Citi is bullish about one part of the semiconductor industry. Here are its top stock picks
▼ + stars: | 2023-11-06 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

An upturn in a corner of the semiconductor industry began in the second half of this year, according to Citi. That's DRAM, or dynamic random-access memory — a type of semiconductor memory needed for data processing. The bank cited figures from the Semiconductor Industry Association, which represents the U.S. semiconductor industry. Analog Devices : Citi gave Analog Devices a price target of $200, implying potential upside of around 21%. Onsemi : Given its "superior growth," Citi gave the stock a price target of $85, implying potential upside of around 27%.

Organizations: Citi, Semiconductor Industry Association, Micron, Devices, AMD, Intel, Nvidia, NVIDIA, GlobalFoundries Locations: U.S

☆ US lawmakers press Biden for plans on Chinese use of open chip technology
▼ + stars: | 2023-11-02 | by ( Stephen Nellis | ) www.reuters.com time to read: +2 min

RISC-V, pronounced "risk five," is a free open-source technology that competes with costly proprietary technology from British semiconductor and software design company Arm Holdings (O9Ty.F), and Intel Corp (INTC.O). It can be used as a key part of anything from a smartphone chip to advanced processors for artificial intelligence. U.S. firms such as Qualcomm (QCOM.O) and Alphabet's (GOOGL.O) Google have embraced RISC-V, but so too have many Chinese companies. Reuters last month reported that at least four influential U.S. lawmakers view Chinese use of the technology as a potential national security threat because RISC-V is not captured by the sweeping export controls the U.S. has imposed on sending chip technology to China. They also asked the Biden administration about how it might apply an existing executive order to require U.S. companies to get an export license before working with Chinese companies on RISC-V technology.

Persons: Florence Lo, Biden, Raimondo, Stephen Nellis, Jamie Freed Organizations: REUTERS, FRANCISCO, Reuters, Arm Holdings, Intel Corp, Qualcomm, Google, Republican, Representatives, Commerce, Thomson Locations: U.S, China, New Jersey , Florida , Michigan, Indiana, San Francisco

☆ After a Boom and Bust, the Chip Industry Is Regaining Its Health
▼ + stars: | 2023-11-01 | by ( Jiyoung Sohn | Asa Fitch | ) www.wsj.com time to read: 1 min

Intel’s chief executive said the company is ‘seeing very healthy behavior’ going into the last quarter of the year. Photo: Brent Lewin/Bloomberg NewsThe global semiconductor industry is bottoming out, executives say, signaling a rebound in some areas of technology and providing relief for the U.S. government, which is spending billions on expanding chip production. In recent weeks, executives at Intel , Taiwan Semiconductor Manufacturing Co. and Samsung Electronics have expressed confidence that the worst is over for the chip industry, which had been in a prolonged slump.

Persons: Brent Lewin Organizations: Bloomberg, U.S ., Intel, Taiwan Semiconductor Manufacturing Co, Samsung Electronics

☆ The biggest winners — and losers — in the coming AI job apocalypse
▼ + stars: | 2023-11-01 | by ( Emil Skandul | ) www.businessinsider.com time to read: +10 min

In fact, as other long-term trends take hold, many of these working-class roles are poised for a job explosion. While manufacturing jobs as a whole are expected to stay flat, spending in this industry has boomed to $200 billion each year, tripling in the past five years. "What characterizes the physical labor jobs that are safe for the next five or 10 years are things that are in an unpredictable physical environment," Kweilin Ellingrud, a McKinsey Global Institute director, told me. Instead of replacing these jobs, AI will likely benefit specific roles by making it easier to do the most routine parts of the job. He added: "There are these jobs that are in a middle ground where the physical work may remain but the supervision might be more exposed."

Persons: plumbers, Philip Levine, there's, Mark Muro, barometers, OpenAI, Ellingrud, Muro, Emil Skandul, Tony Blair Organizations: Ford, US Bureau of Labor Statistics, Brookings Institution, Accenture, Bureau of Labor Statistics, McKinsey, McKinsey Global Institute, Research, Tony Blair Institute Locations: American, America

☆ Why we're upbeat on chemicals maker DuPont, despite its narrowed guidance
▼ + stars: | 2023-11-01 | by ( Jeff Marks | ) www.cnbc.com time to read: +8 min

But we remain optimistic the specialty chemicals company's electronics business will turn next year, leading to revived growth. At the same time, DuPont raised concerns about its water and safety solutions business due to ongoing destocking and a weaker China. The electronics and industrial segment is comprised of three subunits: semiconductor technologies, interconnect solutions and industrial solutions. Guidance DuPont shaved its full-year net sales outlook to about $12.17 billion, from a previous range of $12.45 billion to $12.55 billion. The company cited additional channel inventory destocking and slow industrial demand in China, mostly in its water solutions business, for its revised guidance.

Persons: Ed Breen, DuPont, Jim Cramer's, Jim Cramer, Jim, Edward Breen, Brendan McDermid Organizations: DuPont de Nemours, DuPont, Spectrum Plastics, CNBC, New York Stock Exchange Locations: China

☆ U.K. invests $273 million in AI supercomputer as it seeks to compete with U.S., China
▼ + stars: | 2023-11-01 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

The U.K. government said Wednesday that it will invest £225 million, or $273 million, into an artificial intelligence supercomputer, highlighting the country's ambition to lead in the technology as it races to catch up to the U.S. and China. The University of Bristol will build the supercomputer, called Isambard-AI after the 19th century British engineer Isambard Brunel. The announcement coincided with the first day of the U.K.'s AI safety summit, which is being held in Bletchley Park. The computer will pack 5,448 GH200 Grace Hopper Superchips, powerful AI chips made by U.S. semiconductor giant Nvidia , which specializes in high-performance computing applications. The U.K. government hopes the two combined supercomputers will achieve breakthroughs in fusion energy, health care and climate modeling.

Persons: Isambard Brunel, Grace Hopper Superchips, StackPC Organizations: The University of Bristol, Nvidia, Hewlett Packard Enterprise, American IT, Cambridge, Dell, Intel Locations: China, Bletchley Park, Britain, U.S, American, East Asia

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