DIRS.INFO The most relevant business & tech news

☆ Taiwan’s Foxconn says it sees ‘billions’ of dollars in India investments
▼ + stars: | 2023-08-14 | by ( Juliana Liu | ) edition.cnn.com time to read: +1 min

CNN —A month after exiting an ambitious project to help build one of India’s first chip factories, Taiwan’s Foxconn says it remains bullish about the world’s most populous nation and is planning “billions” of dollars in investments there, as multinationals seek to diversify their supply chains beyond China. Foxconn’s India operations account for about $10 billion — or just under 5% — of the company’s annual turnover, which stood at $6.627 trillion new Taiwan dollars ($207 billion) last year, Chairman Young Liu told a Monday earnings call. “There is a positive energy for this market,” he said in response to a question from CNN. Foxconn, best known for making Apple (AAPL)’s iPhones, has more than 30 factories in India, including 20 dormitories that house tens of thousands of workers. It was seen as a blow to the New Delhi government’s plans to turn the country into a tech manufacturing powerhouse.

Persons: Taiwan’s Foxconn, Young Liu, ”, ” Liu, Foxconn Organizations: CNN, “, Apple, Vedanta Locations: China, India, Taiwan, Delhi

☆ US-China investments: New Biden executive order deals 'major blow' to Chinese startups
▼ + stars: | 2023-08-10 | by ( Michelle Toh | ) edition.cnn.com time to read: +7 min

The Biden administration announced Wednesday it would restrict investments by US venture capital and private equity firms, as well as joint ventures, in Chinese artificial intelligence, quantum computing and semiconductors. The executive order applies to investments in the cities of Hong Kong and Macao, as well as mainland China. She said the new edict suggested that Washington was “trying to ‘decouple’” US and Chinese venture capital, despite the administration’s insistence that it is not trying to halt trade with China. US venture capital investment into China has plummeted about 80% over the past year, according to PitchBook data. And the investment restrictions were long in the works.

Persons: Biden, they’ll, ”, Edith Yeung, Washington, Yeung, Kyle Stanford, Kaidi Gao, Tomohiro Ohsumi, “, Gao, Washington —, Xi Jinping, Gina Raimondo’s Organizations: Hong Kong CNN, CNN, Race Capital, ”, PitchBook, Bloomberg, Getty, Investors, Washington, Sequoia Capital, Chinese Ministry of Commerce, China’s Ministry of Foreign Affairs, US Locations: Hong Kong, China, Macao, Silicon, United States, “ Washington, US, ”, Shanghai, chipmaking, Stanford, Beijing

☆ China slams Biden's order limiting U.S. overseas tech investment
▼ + stars: | 2023-08-10 | by ( Clement Tan | ) www.cnbc.com time to read: +2 min

Dong Wenjie | Moment | Getty ImagesChina criticized President Joe Biden's long-awaited executive order regulating fresh U.S. investment in technology — but stopped short of issuing immediate counter measures. "China expresses its grave concern and reserves the right to implement measures," the Chinese Commerce Ministry said in the statement, according to a CNBC translation. Biden's order comes amid an escalating race for global technology supremacy. watch now"This seriously deviates from the market economy and fair competition principles that the U.S. has always advocated," the Chinese Ministry of Commerce added. The wording on Biden's executive order appears similar to a toned-down version of the initial Outbound Investment Transparency Act the Senate recently introduced.

Persons: Dong Wenjie, Joe Biden's, Prasad, Janet Yellen Organizations: Images China, Chinese Commerce Ministry, Biden, CNBC, Chinese Ministry of Commerce, Cornell University, Treasury, Senate Locations: Shanghai, Asia, China, China , Hong Kong, Macao, U.S, Japan, Netherlands, Beijing

Germany, which has been courting the world's largest contract chipmaker since 2021, will contribute up to 5 billion euros to the factory in Dresden, capital of the eastern state of Saxony, German officials said. "There is going to be a real ecosystem for semiconductor manufacturing in Germany," said economy minister Robert Habeck. VOTE OF CONFIDENCETSMC said it would invest up to 3.499 billion euros into a subsidiary, European Semiconductor Manufacturing Company (ESMC), of which it will own 70%. Semiconductor makers Intel (INTC.O) and Wolfspeed (WOLF.N) have already taken advantage of the subsidies on offer to set up shop in Germany. TSMC said in a statement after a board meeting that approved the German investment that it had also approved a capital injection of not more than $4.5 billion for the Arizona plant as part of the overall $40 billion investment.

Persons: Robert Habeck, TSMC, Germany's Bosch, Habeck, Ben Blanchard, Thomas Escritt, Louise Heavens, Mark Potter Organizations: Taiwan Semiconductor Manufacturing, European Union, Semiconductor Manufacturing Company, Infineon, Semiconductor, Intel, EU, Sony, Thomson Locations: Dresden, Arizona, TAIPEI, BERLIN, Germany, Europe, Taiwan, China, Asia, United States, Saxony, Netherlands, Ukraine, U.S, Japan

☆ Germany spends big to win $11 billion TSMC chip plant
▼ + stars: | 2023-08-08 | by ( ) edition.cnn.com time to read: +4 min

Taiwanese chipmaker TSMC on Tuesday committed 3.5 billion euros ($3.8 billion) to a factory in Germany, its first in Europe, taking advantage of huge state support for the $11 billion plant as the continent seeks to bring supply chains closer to home. TSMC said it would invest up to 3.499 billion euros into a subsidiary, European Semiconductor Manufacturing Company (ESMC), of which it will own 70%. The factory will cost around 10 billion euros in total. “There is going to be a real ecosystem for semiconductor manufacturing in Germany,” he said. TSMC said in a statement after a board meeting that approved the German investment that it had also approved a capital injection of not more than $4.5 billion for the Arizona plant as part of the overall $40 billion investment.

Persons: TSMC, Olaf Scholz, Michael Kretschmer, ” Kretschmer, Germany’s, NXP, Robert Habeck, ”, “ It’s Organizations: European Union, Intel, Taiwan Semiconductor Manufacturing, Germany, Semiconductor Manufacturing Company, Germany’s Bosch, Infineon, Semiconductor, EU, Sony Locations: Germany, Europe, Taiwan, China, Asia, United States, Dresden, Saxony, ” Saxony, Netherlands, Ukraine, Arizona, Japan

A gentle downtrend in foreign direct investment gave way to a steep drop last quarter and inflows to China slammed to their lowest since records began 25 years ago, raising the prospect that the long-term trend is turning. Sources have told Reuters the Biden administration is likely to adopt new outbound investment restrictions on China in the coming weeks. Japan, the U.S. and Europe have already restricted the sale of high-tech chipmaking tools to Chinese companies while China has hit back by throttling exports of raw materials. To be sure, investment flows often fluctuate and many firms aren't leaving China completely or aren't leaving at all. "A lot of our clients are worried about their exposure to China as a sole country of supply."

Persons: Carlos Barria, Deng Xiaoping, Logan Wright, Biden, John Ramig, Buchalter, Daniel Seeff, Cardigan, Chi Lo, Lee Smith, Baker Donelson, Samuel Shen, Tom Westbrook, Winni Zhou, Jacqueline Wong Organizations: REUTERS, Corporate, China Markets, China's, Administration of Foreign Exchange, Investors, Reuters, Oxford Economics, Ministry of Commerce, Management, Thomson Locations: Pudong, Shanghai, SHANGHAI, SYDNEY, China, Japan, U.S, Europe, Haining, Peru, Hong Kong, Baker, Singapore

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

☆ India restricts laptop imports to boost local manufacturing
▼ + stars: | 2023-08-03 | by ( Rhea Mogul | ) edition.cnn.com time to read: +3 min

The ministry didn’t provide a reason for the change in rules, however Modi has aggressively pushed his “Make in India” campaign, which promotes local manufacturing in a bid to create more jobs. India’s electronic imports stood at $19.7 billion in the April to June period, up 6.25% from the same period in 2022, according to Reuters. Its large and young labor force makes the country a big draw for global companies seeking alternative manufacturing hubs to China. Earlier this year, India’s commerce minister, Piyush Goyal, said Apple was already making between 5% and 7% of its products in India. Foxconn, the world’s largest contract electronics maker and a key supplier to Apple, is also looking to expand its manufacturing operations in India.

Persons: Narendra Modi, Modi, Piyush Goyal, Apple, ” Organizations: CNN, Ministry of Commerce, Industry, Reuters, Apple, Samsung, Organisation for Economic Co, Micron, Vedanta Locations: India, China, Gujarat

☆ 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

☆ BlackRock and MSCI under investigation by House Committee for investments in China
▼ + stars: | 2023-08-01 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +4 min

“The majority of our clients’ investments in China are through index funds, and we are one of 16 asset managers currently offering US index funds investing in Chinese companies,” BlackRock said in a statement to CNN. “With all investments in China and markets around the world, BlackRock complies with all applicable US government laws. We will continue engaging with the Select Committee directly on the issues raised.”MSCI did not respond to requests for comment. Last October, the Biden administration unveiled a set of export controls banning Chinese companies from buying advanced chips and chip-making equipment without a license. The committee launched an official investigation last month into US venture-capital companies that help fund Chinese artificial intelligence and semiconductor efforts.

Persons: BlackRock, Larry Fink, Henry Fernandez, MSCI, ”, Mike Gallagher of, Raja Krishnamoorthi, ” BlackRock, ” MSCI, Biden, Gallagher Organizations: New, New York CNN, Chinese Communist Party of, BlackRock, CNN, People’s Liberation Army, PLA, Republican, “, Chinese Communist Party, Wall Street Locations: New York, Mike Gallagher of Wisconsin, Illinois, MSCI, United States, China, Beijing, Washington, Ukraine, BlackRock

☆ Japan chip equipment supplier Disco to set up center in India - Nikkei
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: 1 min

Aug 1 (Reuters) - Japan's Disco Corp (6146.T) wants to establish a center in India to support its clients and serve as a base for marketing to the country's semiconductor industry, the Nikkei reported on Tuesday, citing a company executive. The chipmaking device supplier will consider opening an applications laboratory, which performs test cuts and other experimental processing at customer's request, in India, the report said. Plans for the lab will depend on how client companies are progressing in their Indian expansions, the Nikkei said. Reporting by Himanshi Akhand in BengaluruOur Standards: The Thomson Reuters Trust Principles.

Persons: Himanshi Organizations: Nikkei, Thomson Locations: India, Bengaluru

☆ China curbs exports of drone equipment amid U.S. tech tension
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +2 min

BEIJING, July 31 (Reuters) - China on Monday announced export controls on some drones and drone-related equipment, saying it wanted to safeguard "national security and interests" amid escalating tension with the United States over access to technology. The restrictions on equipment including some drone engines, lasers, communication equipment and anti-drone systems would take effect on Sept. 1, the commerce ministry said. The controls would also affect some consumer drones, and no civilian drones could be exported for military purposes, a ministry spokesperson said in a statement. China has a big drone manufacturing industry and exports to several markets including the U.S.U.S. lawmakers have said that more than 50% of drones sold in the U.S. are made by Chinese-based company DJI, and they are the most popular drone used by public safety agencies. The drone export curbs come after China announced export controls of some metals widely used in chipmaking last month, following moves by the United States to restrict China's access to key technologies, such as chipmaking equipment.

Persons: DJI, Mark Potter Organizations: Monday, Authorities, U.S . U.S, Beijing, Thomson Locations: BEIJING, China, United States, U.S, Russia, Ukraine, chipmaking

[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

REUTERS/Amit DaveGANDHINAGAR, India, July 28 (Reuters) - India wants to become a trusted partner for the semiconductor industry and a chip maker for the world, Prime Minister Narendra Modi said on Friday, as global companies including Foxconn (2317.TW) announced investment plans in the South Asian nation. "To expedite the growth of the semiconductor sector in the country, we are continuously undertaking policy reforms," said Modi, who has made chipmaking the top priority of his economic policy. Modi was speaking at the government's SemiconIndia annual conference in his home state of Gujarat which is being attended by top semiconductor industry executives. Speaking to CNBC-TV18, Liu said Foxconn had yet to find another partner for its India chipmaking venture. At the event, Micron Technology (MU.O) CEO Sanjay Mehrotra said a planned $2.7 billion semiconductor testing and packaging unit in Gujarat would help create about 5,000 jobs in the state.

Persons: Mark Papermaster, Young Liu, India's, Narendra Modi, Amit Dave GANDHINAGAR, TW, Modi, Foxconn, Liu, Modi's, Sanjay Mehrotra, Munsif Vengattil, Sumit Khanna, Indranil Sarkar, Aditya Kalra, Jacqueline Wong, Muralikumar Organizations: Devices, REUTERS, Foxconn, CNBC, TV18, Vedanta, Semiconductor, Reuters, Hai Technology, Micron Technology, Thomson Locations: Gandhinagar, India, Gujarat, Bengaluru, Tamil, Taiwan, Foxconn

☆ Volkswagen invests $700 million in Chinese EV maker Xpeng to boost sluggish sales
▼ + stars: | 2023-07-27 | by ( Laura He | ) edition.cnn.com time to read: +4 min

The German group’s Audi subsidiary will also work more closely with its existing partner, SAIC Motor, China’s biggest car maker. Shares in Xpeng jumped more than 30% Thursday in Hong Kong, leading a broad rally in Chinese EV stocks. China is the single largest market for Volkswagen, accounting for about 40% of its global sales and half of its profits. In the first quarter of 2023, BYD, the Chinese EV maker backed by Warren Buffett, surpassed Volkswagen to become the largest brand by sales in China, according to official car insurance registration data. The German car maker said it would strengthen its strategic position in China, including beefing up its capacity for e-mobility, digitalization and autonomous driving.

Persons: ”, Ralf Brandstätter, Xpeng, Warren Buffett, It’s Organizations: Hong Kong CNN, Volkswagen, VW, Audi, SAIC, China’s, “ Volkswagen Locations: Hong Kong, German, Xpeng, China, Xinjiang, Germany, BYD, Europe, Hefei, Anhui, Hefei city

☆ Apple supplier Foxconn's failed India chip venture shows how tough it is for new players
▼ + stars: | 2023-07-24 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +4 min

In this article 2317-TW Follow your favorite stocks CREATE FREE ACCOUNTThis month, Foxconn pulled out of its joint venture with Vedanta. In May 2021, it formed a joint venture with Yageo Corporation, which makes various types of electronic components. Foxconn looked to India for its joint venture with Vedanta because the country's government is looking to boost its domestic semiconductor industry and bring manufacturing on shore. This month, Foxconn pulled out of its joint venture with Vedanta. Foxconn and Vedanta wanted to license the technology from STMicro and India wanted the firm to have a stake in the joint venture, but the European chipmaker did not, Reuters reported.

Persons: Foxconn, Gabriel Perez, Neil Shah, Shah, BMI's Perez, Vedanta Organizations: Vedanta, Getty, BMI, Fitch Group, CNBC, Samsung, Micron, Hai Technology, Yageo Corporation, Counterpoint Research, Reuters Locations: India, EU, Mainland China, STMicro

☆ Bullish developments for three stocks across sectors — and our take, too
▼ + stars: | 2023-07-21 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +8 min

Morgan Stanley analysts believe the market for obesity drugs is even larger than initially expected, a finding that aligns with our rosy outlook on Eli Lilly (LLY). The news: Obesity drugs could generate annual sales up to $77 billion in 2030, Morgan Stanley said Friday, a nearly 43% increase to the firm's previous forecast. Insurance reimbursement for obesity drugs has spread quicker than Morgan Stanley expected, which helped prompt the firm to update its multiyear sales outlook. However, there's been some concern that insurance companies would be hesitant to cover this new class of obesity drugs, which carry hefty price tags, along with side effects like nausea and vomiting. Eli Lilly and Company, Pharmaceutical company headquarters in Alcobendas, Madrid, Spain.

Persons: Morgan Stanley, Eli Lilly, LLY, Lilly, Wegovy, Eli Lilly's, Morgan Stanley's, Jim Cramer's, we've, there's, Sartorius, Danaher, We've, We're, Lisa Su, Su, TSM, Apple's, There's, Jim Cramer, Jim, Cristina Arias Organizations: Club, Novo Nordisk, Wall, AMD, Devices, Club holding's, Nikkei Asia, Taiwan Semiconductor Manufacturing Company, Apple, Nvidia, Intel, CNBC, Company, Pharmaceutical Locations: U.S, Japan, Tokyo, Taiwan, China, Beijing, Arizona, Alcobendas, Madrid, Spain

HONG KONG/TAIPEI, July 21 (Reuters) - Investors are putting aside geopolitical tensions to pile in to Taiwan stocks, with foreign inflows the biggest in years, thanks to soaring artificial intelligence and chipmaking stocks. Rather, investors say it's all the more sturdy as the bogged-down conflict deters Chinese action and risks can be managed by keeping positions liquid with one eye on a possibly quick exit. "A potential escalation of events in the Taiwan Strait down the line is less relevant for these investors," he said. "So that makes Taiwan’s AI supply chain very attractive for foreign investors, and we believe their fund inflows will continue to be strong throughout the year." Investors say Taiwan's market is uniquely positioned to benefit because it is exposed to the sector's growth from applications to components, where demand is rebounding.

Persons: Carlos Casanova, Warren Buffett, we've, Frank Benzimra, Hai, Andrew Swan, Goldman Sachs, Clarence Chan, Summer Zhen, Kim Coghill Organizations: Nasdaq, Union Bancaire, Taiwan Semiconductor Manufacturing, Societe Generale ., Accton Technology, Hai Precision Industry, Wistron Corp, Alchip Technologies, Ark Investment Management, Vanguard, PineBridge Investments, Mellon Investment Management, Thomson Locations: HONG KONG, TAIPEI, Taiwan, Asia, Ukraine, Taiwan Strait, China, Taipei, Japan, PineBridge Investments Asia, Alchip, Asia Pacific, Hong Kong

Powerchip and Japanese financial firm SBI Holdings (8473.T) earlier this month said they aim to attract government subsidies to build the plant amid a wave of investment in Japan aimed at boosting its chip manufacturing capabilities. "I think about five to seven years... it depends on the business," Joe Wu, President of PSMC Japan, told Reuters when asked about the timing for a potential listing. Powerchip said it sees scope for additional foundry capacity in Japan, which has seen a lack of investment. The Taiwanese firm previously set up a joint venture in China to build a chip factory which listed in Shanghai this year. Powerchip and SBI hope to attract additional funds for the Japan business and are targeting chip industry customers and financial investors as potential backers, Wu said.

Persons: Powerchip, Joe Wu, Wu, Sam Nussey, Miho Uranaka, Elaine Hardcastle Organizations: Powerchip Semiconductor Manufacturing Corp, SBI Holdings, Reuters, Companies, Renesas Electronics, Mitsubishi Electric, Taiwan Semiconductor Manufacturing, Sony Group, Denso Corp, Powerchip, Thomson Locations: TOKYO, Taiwan, Japan, Kyushu, China, Shanghai

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow Texas became the center of U.S. chipmakingTexas is now the top state for U.S. chip manufacturing. It has the highest number of semiconductor fabrication plants, and six new projects will bring an additional $61 billion and 8,000 jobs. 65 years after the integrated circuit was invented in Texas, chip giants are now attracted by low taxes and the $1.4 billion Texas CHIPS Act passed in June. CNBC got a tour of Texas Instruments' $30 billion site being built north of Dallas and Samsung's $17 billion fab under construction near Austin.

Organizations: CNBC, Texas Instruments Locations: Texas, chipmaking Texas, U.S, Dallas, Austin

☆ ASML shares surged more than 30% this year. Here's where Wall Street sees the stock going
▼ + stars: | 2023-07-20 | by ( Weizhen Tan | ) www.cnbc.com time to read: +4 min

Shares of ASML have soared this year on the buzz around semiconductor firms and artificial intelligence. He added that the risk posed by the China restrictions represents about 5% of its revenue and backlog. But he described ASML as a very high quality business that will benefit from the growth of the semiconductor market. He predicts that semiconductor market revenue will be worth about $1 trillion in 2030. Analysts covering the company gave its Netherlands-listed shares potential average upside of nearly 13%.

Persons: ASML, Trent Masters, Masters, Morgan Stanley, Jefferies, — CNBC's Michael Bloom Organizations: Nvidia, Samsung, CNBC, UBS, ASML, Trent, NVIDIA, Analysts Locations: Netherlands, U.S, China, Alphinity

☆ A Speedo vs 'outdated swimwear' analogy has officially entered the US-China tech war conversation
▼ + stars: | 2023-07-20 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Xie Feng, the Chinese ambassador to the US, said Washington isn't playing fair in its tech race with China. Restrictions on China are like forcing it to wear outdated swimwear while the US wears Speedos, he said. The tech war between the world's two largest economies has been intensifying. On Wednesday, Xie Feng, the Chinese ambassador to the US, found the most unexpected analogy to the US-China tech competition by comparing American restrictions on China to different types of swimwear. It also wants to slap further export restrictions on AI chips to China, the Wall Street Journal reported on June 27.

Persons: Xie Feng, Washington isn't, Xie, we've, Biden, China's Organizations: Aspen Security, Wall Street, Micron Locations: China, Colorado, Netherlands, Beijing

☆ India's Vedanta says it's awaiting govt nod for semiconductor plant in Gujarat
▼ + stars: | 2023-07-18 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, July 18 (Reuters) - India's Vedanta is awaiting government approval for incentives under a modified semiconductor production plan to begin construction of a plant in the country's western state of Gujarat, for which its has tapped technology and equity partners, a top executive said on Tuesday. The group already has a partnership with Taiwan's Innolux for display fab manufacturing, he added. After Foxconn pulled out, Vedanta said it had lined up partners for the venture, without giving details. Separately, Gujarat is holding talks with Foxconn over a semiconductor plant, while the Taiwanese company had said it intends to apply for incentives under India's semiconductor production plan. Reporting by Sethuraman NR and Aleef Jahan in Bengaluru; Editing by Savio D'Souza and Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Persons: Taiwan's, Anil Agarwal, Taiwan's Foxconn, Foxconn, Vedanta, Foxconn's pullout, Aleef, Savio D'Souza, Maju Samuel Organizations: Vedanta Semiconductors, Reuters, Sethuraman, Thomson Locations: BENGALURU, Gujarat, Bengaluru

☆ Germany urges companies to 'de-risk' from China, emphasizes it is not seeking a decoupling
▼ + stars: | 2023-07-14 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

Germany said there is an urgent need for companies to de-risk from China, while "not pursuing a decoupling" of economies. "For Germany, China remains a partner, a competitor, a systemic rival. The minister was presenting the country's strategy on China and explaining how the country plans to protect its interests. "China's economic strategy aims to make it less dependent on other countries, while making international production chains more dependent on China," the foreign ministry said in a 64-page report published Thursday. "In terms of foreign policy, China is pursuing its own interests far more assertively and is attempting in various ways to reshape the existing rules‑ based international order.

Persons: Olaf Scholz, Li Qiang, Annalena Baerbock Organizations: Mercator Institute for China Studies Locations: Berlin, Germany, China, Europe

July 14 (Reuters) - Two U.S. senators are pursuing a legislative plan to track U.S. investments in China, as the White House works to complete long-awaited action that would also restrict investment in certain, highly targeted sectors. The Biden administration, meanwhile, is finalizing an executive order that would also restrict certain investment in sectors including advanced semiconductors, quantum computing and artificial intelligence. A senior administration official, who spoke on condition of anonymity, said the aim was to wrap up legal and other reviews of the outbound investment order by Labor Day. Reuters reported in February that the proposed order was likely to track restrictions on artificial intelligence chips, chipmaking tools and supercomputers, among other technologies, imposed on exports to China in October. The senators' proposed legislation was filed as an amendment to the annual National Defense Authorization Act.

Persons: Bob Casey, Republican John Cornyn, Casey, Biden, Janet Yellen, Joe Biden, Karen Freifeld, Andrea Shalal, Susan Heavey Organizations: White, Democratic, Republican, Labor, Treasury, Reuters, National Defense, U.S . House, Republicans, Thomson Locations: China

Search resuls for: "chipmaking"

25 mentions found