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The visit comes as trade and investment ties between the two nations are growing and a long-simmering territorial dispute between Vietnam and China heats up in the South China Sea. Vietnam has named four other countries "comprehensive strategic partners," the designation expected for the U.S.: China, Russia, India and South Korea. Biden's visit comes nearly 50 years after the end of the deeply unpopular Vietnam War between the Soviet-backed Communist government of North Vietnam and South Vietnam’s U.S.-backed regime. "For decades, the US and Vietnam have worked to overcome a painful shared legacy of the Vietnam War, working hand in hand to promote reconciliation, with our service members and our veterans lighting the way," he said. Washington has been pushing to elevate ties with Hanoi to a "strategic" partnership from one that for the past decade has been called "comprehensive."

Persons: Joe Biden, Evelyn Hockstein, Biden, Nguyen Phu Trong, Antony Blinken, Jake Sullivan, Nandita Bose, Khanh Vu, Francesco Guarascio, Heather Timmons, Chizu Organizations: Global Infrastructure, REUTERS, Sunday, Communist Party General, Party, U.S ., Google, Intel, Marvell, Boeing, U.S, Communist, Thomson Locations: New Delhi, India, DELHI, HANOI, United, China, Asia, Vietnam, South China, Russia, South Korea, Hanoi, U.S, Soviet, North Vietnam, South Vietnam’s U.S, Pacific, US, Washington, Czech Republic

☆ US, Vietnam to Elevate Ties During Biden Visit, With Eye on China
▼ + stars: | 2023-09-09 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +3 min

Persons: Nandita Bose, Francesco Guarascio, Joe Biden, Biden, Nguyen Phu Trong, Antony Blinken, Jake Sullivan, Khanh Vu, Heather Timmons, Chizu Organizations: Francesco Guarascio NEW, Sunday, Communist Party General, Party, U.S ., Google, Intel, Marvell, GlobalFoundries, Boeing, U.S, Communist Locations: Francesco Guarascio NEW DELHI, HANOI, United, China, Asia, Vietnam, South China, Russia, India, South Korea, Hanoi, U.S, Soviet, North Vietnam, South Vietnam’s U.S, Pacific, US, Washington, Czech Republic

☆ American economic power is potent but unstable
▼ + stars: | 2023-09-08 | by ( Peter Thal Larsen | ) www.reuters.com time to read: +8 min

LONDON, Sept 8 (Reuters Breakingviews) - For the past 15 years, the iPhone has been a totem of U.S. economic power. If the country is cooling on the $2.8 trillion company, it’s a potent indicator of increasingly frosty relations with the United States. Perhaps most significantly, the U.S. government realised it could use the internet to spy on adversaries and the financial system to subdue them. The tendency of capitalism to produce a handful of giant companies, many of them headquartered in the United States, helped successive administrations exert their authority. A complete severing of economic links between China and the United States is hard to imagine.

Persons: Norman Angell, Thomas Friedman, Vladimir Putin, Edward Snowden, Henry Farrell, Abraham Newman, Johns Hopkins SAIS, Putin, Biden, ”, Farrell, Newman, Donald Trump, ” Farrell, Allen Lane, Jeffrey Goldfarb, Aditya Sriwatsav Organizations: Reuters, Apple, World Trade Organization, New York Times, National Security Agency, U.S . Treasury, Johns Hopkins, Georgetown University, WTO, Huawei, BNP, Biden Administration, Intel, U.S ., European, United, Thomson Locations: China, Beijing, United States, France, Russian, U.S, North Korea, Iran, New York, Washington, Sudan, Cuba, Ukraine, America, Russia, Germany, United, Europe

☆ CNBC Daily Open: Employers are holding on to workers — and it’s costing them
▼ + stars: | 2023-09-08 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

CFOTO | Future Publishing | Getty ImagesThis 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. Initial jobless claims fell last week to a seasonally adjusted 216,000, according to a report by the U.S. Labor Department. In other words, the labor market still looks tight because employers are laying off fewer people and paying them more. There's now a 39.9% chance rates will go up 25 basis points then, according to the CME FedWatch tool.

Persons: There's, Brad McMillan, McMillan, Jeff Cox Organizations: AMD, Apple, CNBC, U.S . Labor Department, Federal, Nvidia, Devices, Seagate, Nasdaq, Dow Jones Industrial, Intel's, Commonwealth Financial Locations: Shanghai, China, U.S

Reliance, whose interest in making semiconductors has not been previously reported, did not respond to repeated requests for comment. India's IT ministry and Prime Minister Narendra Modi's office also did not respond to requests for comment. The country does not as yet have any chip manufacturing plants, although India's Vedanta (VDAN.NS) and Taiwan's Foxconn (2317.TW) are both looking at building facilities. India's government has forecast the domestic chip market will be worth $80 billion by 2028 compared with $23 billion currently. But chip manufacturing is an industry that has historically been beset with boom and bust cycles and requires much expertise.

Persons: Amit Dave, Mukesh, Narendra Modi's, Modi, Vedanta, Taiwan's Foxconn, Arun Mampazhy, –, Foxconn, Munsif Vengattil, Aditya Kalra, Edwina Gibbs Organizations: Reliance Industries, Gujarat Global Trade, REUTERS, Reliance, Google, U.S, Vedanta, Ventures, Semiconductor, Intel, Orbit Ventures, Thomson Locations: Gujarat, Gandhinagar, India, DELHI, Abu Dhabi

☆ These 10 stocks have the most exposure to China's 'stalling' economy, BofA warns
▼ + stars: | 2023-09-08 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

China's "stalling" economy is putting some US companies at risk, according to Bank of America. The bank highlighted the top 10 stocks that have the most revenue exposure to China. Applied MaterialsApplied Materials’ new corporate signage photo in Santa Clara California ReutersTicker: AMATMarket value: $122.6 billionRevenue exposure to China: 33%9. Wynn ResortsAdvertisementAdvertisementFILE PHOTO: Wynn Resorts Ltd property in Las Vegas ReutersTicker: WYNNMarket value: $10.7 billionRevenue exposure to China: 40%4. ReutersTicker: LVSMarket value: $38.2 billionRevenue exposure to China: 67%Other companies that have considerable revenue exposure to China include: Intel (27%), Tesla (26%), and Nvidia (26%).

Persons: Savita Subramanian, Santa Clara California, Lam, Shanghai Aly Song Organizations: Bank of America, Service, Santa Clara California Reuters, Broadcom Reuters, IPG Photonics, Wynn, Wynn Resorts Ltd, Las Vegas Reuters, WYNN, Qualcomm, China, Vegas Sands Corp, Reuters, Intel, Nvidia Locations: China, Wall, Silicon, Santa Clara, Las Vegas, Shanghai, Macau

Here is what you need to know about Oculus Link, including how to use it with the Meta Quest 2. And because you might already have the only accessory you need to run Oculus Link — a USB-C cable — that means it's definitely worth it. AdvertisementAdvertisementHow to get started with Oculus LinkUsing Oculus Link is pretty straightforward. Dave Johnson On the Quest Link page, make sure Quest Link is enabled (the button should be swiped to the right) and then choose Launch Quest Link. Depending on what processor and video card you have, you might find that your PC doesn't meet the requirements to run Oculus Link — for example, does an NVidia RTX 3050 work with Oculus Link?

Persons: Dave Johnson Organizations: Meta, Quest, Cable, Air Link, Intel, AMD, NVIDIA

A Wall Street sign is pictured outside the New York Stock Exchange in New York, October 28, 2013. Barclays (BARC.L), Goldman Sachs (GS.N), JPMorgan Chase (JPM.N), and Mizuho Financial Group (8411.T) are the lead underwriters for the offering. Goldman Sachs, Morgan Stanley and Citigroup are lead underwriters on the offering, the company said in its filing. Its shares are expected to begin trading on the New York Stock Exchange under the ticker symbol "KVYO". Citigroup, Morgan Stanley, UBS, and Bank of America are underwriters of the IPO, according to the filing.

Persons: Carlo Allegri, T Rowe Price, Goldman Sachs, JPMorgan Chase, Instacart, Fidji Simo, confidentially, Klaviyo, Morgan Stanley, Chibuike Oguh, Lance Tupper, Michelle Price, Aurora Ellis Organizations: New York Stock Exchange, REUTERS, Arm Holdings, Japan's Softbank, U.S . Securities, Exchange Commission, SEC, Apple, Nvidia, Devices, Intel, Samsung Electronics, AMD, Samsung, Taiwan Semiconductor Manufacturing Company, Barclays, JPMorgan, Mizuho Financial Group, underwriters, Nasdaq, Norges Bank Investment Management, Norges Bank, Sequoia Capital, D1 Capital Partners, Valiant Capital Management, Facebook, Reuters, Summit Partners, Citigroup, VNG Corp, HK, Temasek, UBS, Bank of America, Thomson Locations: New York, U.S, Russia, Ukraine, Baltimore, TCV, Sequoia, Canadian, United States, Chi Minh City, Singapore

☆ Startup investors are fueling a boom in U.S. defense tech as China standoff opens doors at home
▼ + stars: | 2023-09-07 | by ( Lauren Feiner | ) www.cnbc.com time to read: +11 min

Louie added that he doesn't "know of a single major fund out there that isn't thinking about disruptive tech investing in the U.S., investing in defense tech, investing in microelectronics and AI in the next generation and next iteration." Stephen McCarthy | Sportsfile | Getty ImagesVC funding in aerospace and defense tech has shot up in recent years, according to data compiled by PitchBook for CNBC. The poster child for U.S.-focused defense tech is Anduril Industries, co-founded in 2017 by Oculus Rift designer Palmer Luckey. They can just look at the untapped potential in defense tech. "The government's becoming a better customer," said Shah, who previously served as managing partner of the Defense Department's Defense Innovation Unit, which seeks to accelerate the use of emerging technologies.

Persons: Hadrian, Chris Power Hadrian, Joe Biden, Gilman Louie, Alsop, Louie Partners, He's, Louie, Biden, Lindsay Gorman, she's, Gorman, Chris Power, Power, Hadrian's, Peter Thiel's, Palmer Luckey, Stephen McCarthy, Sportsfile, Anduril, Richard Jenkins, Bilal Zuberi, Lux, Zuberi, Jenkins, Saildrone didn't, Paul Kwan, Catalyst, What's, Kwan, Kyle Harrison, Saul Loeb, Raj Shah, Josh Wolfe, There's, Shah, Wolfe Organizations: Chris Power Hadrian Automation, America's Frontier, U.S, Marshall Fund's Alliance, Securing Democracy, Lux Capital, Fund, Andutil Industries, Enercare Center, Getty, PitchBook, CNBC, Industries, Oculus, Blue Force Technologies, Oceanic, Atmospheric Administration, Navy, Coast Guard, Google, Intel, AFP, Shield, Lux, Defense Department's Defense Innovation Unit, Power, YouTube, China Locations: China, U.S, America, Torrance , California, Los Angeles, Toronto, Canada, Ukraine, New Albany , Ohio, Silicon

☆ GameStop’s success doesn’t belong in a meme
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, Sept 7 (Reuters Breakingviews) - Meme-stock success might look more whimper than bang. GameStop (GME.N), the poster-child for pandemic-era retail-trader enthusiasm, reported second-quarter results on Wednesday that showed losses narrowing and positive, if miniscule, adjusted EBITDA. It’s an improvement on the path to sustainability, especially compared to other retail darlings like bankrupt Bed Bath & Beyond. Hardware sales fell 18% from the prior quarter, as the after-effects of supply shortages fade. GameStop’s share price may still be well above 2019 levels, but its ambitions are as low as ever.

Persons: hasn’t, Ryan Cohen, Jonathan Guilford, Hong Kong, Lauren Silva Laughlin, Sharon Lam Organizations: Reuters, GameStop, X, Hong, Thomson Locations: Grapevine , Texas

☆ Direct Line stays in ditch but now faces right way
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +2 min

Vehicles are seen on the M1 motorway in Milton Keynes following the outbreak of the coronavirus disease (COVID-19), Milton Keynes, Britain May 11, 2020. REUTERS/Andrew Boyers Acquire Licensing RightsLONDON, Sept 7 (Reuters Breakingviews) - Direct Line (DLGD.L) is still in the ditch. The good news is that the company is at least now facing the right way. Direct Line’s scope to actually exit its ditch hinges on customers swallowing the price rises it’s belatedly pushing through. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Milton Keynes, Andrew Boyers, Adam Winslow, George Hay, Hong Kong, Neil Unmack, Streisand Neto Organizations: REUTERS, Reuters, RSA, X, Hong, Thomson Locations: Milton Keynes, Britain

☆ Stocks making the biggest moves midday: ChargePoint Holdings, Seagate Technology, C3.ai and more
▼ + stars: | 2023-09-07 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

Seagate Technology — Seagate Technology shares dropped about 10.9% after Barclays downgraded the stock to equal weight form overweight. ChargePoint Holdings — Shares of ChargePoint Holdings plunged 10.9% after the electric vehicle charging infrastructure company missed fiscal second-quarter revenue estimates. ChargePoint posted $150 million in revenue, weaker than the $153 million forecast by analysts polled by LSEG, formerly known as Refinitiv. Meanwhile, C3.ai reported an adjusted fiscal first-quarter loss of 9 cents per share on revenue of $72.4 million. Verint Systems — Shares plunged 19.4% in midday trading after the analytics company reported weaker-than-expected second-quarter earnings and revenue.

Persons: Rollins —, ChargePoint, LSEG, StreetAccount, Roku, —, Alex Harring, Yun Li, Pia Singh Organizations: Europe's, Kappa, Wall Street, GameStop, Wall, — Semiconductor, Lam Research, Devices, Qualcomm, Nvidia, Intel, Apple, Bloomberg, Street Journal, Technology, Wednesday, Seagate Technology, Barclays, ChargePoint Holdings, LSEG, Buster's Entertainment, Loop Locations: China

☆ Warner Bros Discovery re-bundles the bundle
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, Sept 7 (Reuters Breakingviews) - Warner Bros Discovery (WBD.O) is taking bundling to the max. The $27 billion entertainment company wants to add live sports from the National Basketball Association and Major League Baseball to its streaming service, free for a limited time, according to Bloomberg. Boss David Zaslav said on Wednesday at a Goldman Sachs conference that CNN will be available too. Warner Bros unveiled its new streaming service Max, which includes HBO, in April. The industry is packed with competitors, and at $16 a month, Max is already one of the most expensive.

Persons: Boss David Zaslav, Goldman Sachs, Max, Walt Disney, Jennifer Saba, Lauren Silva Laughlin, Sharon Lam Organizations: Reuters, Warner Bros Discovery, National Basketball Association, Major League Baseball, Bloomberg, Goldman, CNN, Warner Bros, HBO, Cable, Charter Communications, ESPN, X, Thomson

☆ Venice entry fee will start next year
▼ + stars: | 2023-09-06 | by ( Julia Buckley | ) edition.cnn.com time to read: +6 min

CNN —Venice has finally revealed the details for its entrance fee, making it the first city in the world to charge daytripper visitors. But this isn’t a permanent move yet – the Venice authorities have committed to a 30-day “experiment,” according to mayor Luigi Brugnaro, who shared the news on Twitter/X. Daytrippers over the age of 14 entering the “old city” of Venice – the entirety of the lagoon city – will have to pay. Andrea Merola/Bloomberg/Getty ImagesPreviously, Venturini had announced that the entrance fee – which has been discussed since 2019 – would start in January 2023. Venice may be the first city to introduce a fee, but already one village in Italy has introduced a charge for daytrippers.

Persons: we’ll, Stanley Tucci, CNN —, they’re, Luigi Brugnaro, accesso, –, Simone Venturini, ”, Stefano Mazzola, Michele Zuin, Andrea Merola, Venturini, “ Covid, ” Venturini, it’s Ferragosto, Civita, Bagnoregio, Francesco Bigiotti, Venice’s Organizations: CNN, intel, “, Bloomberg, Getty, RAI, UNESCO Locations: CNN — Venice, Venice, Murano, Veneto, Tourism, Italy, ”

☆ TSMC to decide this week whether to invest in Arm IPO
▼ + stars: | 2023-09-06 | by ( Ben Blanchard | ) www.reuters.com time to read: +2 min

A smartphone with a displayed TSMC (Taiwan Semiconductor Manufacturing Company) logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsTAIPEI, Sept 6 (Reuters) - TSMC (2330.TW), the world's largest contract chipmaker, will decide this week whether to invest in chip designer Arm Holdings' blockbuster initial public offering (IPO), Chairman Mark Liu said on Wednesday. Speaking on the sidelines of the SEMICON Taiwan summit, Liu said his company was still evaluating the matter and, when pressed on when a decision may come, he added "this week". "Arm is an important element of our ecosystem, our technology and our customers' ecosystem. I’m sure it will be a very successful project," he said.

Persons: Dado Ruvic, Mark Liu, Liu, SoftBank Group's, TSMC, Ben Blanchard, Anne Marie Roantree, Stephen Coates Organizations: Taiwan Semiconductor Manufacturing, REUTERS, Rights, Arm Holdings, Apple, Nvidia, Devices, Intel, Samsung Electronics, Thomson Locations: Rights TAIPEI, Taiwan, U.S ., Arizona

☆ Russia is teaching high schoolers how to use drones and handle rifles so future draftees are more ready for the frontlines, UK intel says
▼ + stars: | 2023-09-06 | by ( Chris Panella | ) www.businessinsider.com time to read: +3 min

Russia is teaching students the ways of war so that it can conscript more ready young men, UK intel said. The senior student curriculum includes handling rifles, grenades, and drones. The basic military training module of the class includes handling Kalashnikov assault rifles — something seen in occupied Crimean schools last spring — as well as grenades. Now, it appears both could be goals, as the class both indoctrinates students into war efforts and prepares them for potential fighting. Similarly, Russia training students in how to pilot drones could give them a leg up in recruiting new operators, considering the highly specialized and meticulously trained skillset required for flying drones, particularly first-person view (FPV) drones, and the important — and dangerous — role these operators play on the battlefield.

Persons: — Organizations: intel, Service, UK Ministry of Defense Locations: Russia, Wall, Silicon, Russian, Crimean, Ukraine

☆ Tom Brady will be a strategic adviser to Delta
▼ + stars: | 2023-09-06 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +2 min

New York CNN —Tom Brady has a new employer: Delta Air Lines. The seven-time Super Bowl champion is expanding his post-NFL career business ventures, joining Delta to work on internal employee training and appear in external advertising campaigns. Delta said Wednesday that Brady would become a “strategic adviser” to the airline. Brady will partner with Delta to develop and advise on “teamwork tools” for the airline’s more than 90,000 employees and take part in select marketing campaigns, the company said. Brady founded health and wellness company TB12 Sports and also owns a media company and the Brady Brand clothing line.

Persons: Tom Brady, Delta, Brady, ”, “, Ed Bastian’s, Allen Adamson, ” Brady, Adamson, BlackBerry, Alicia Keys, will.i.am, Lady Gaga, Beyoncé Knowles, Brady Brand Organizations: New, New York CNN, Delta Air Lines, NFL, Delta, Intel, Polaroid, Adidas, TB12 Sports, British soccer, Birmingham City, League Pickleball, Fox Sports Locations: New York, Delta

☆ CNBC Daily Open: Rising oil prices inflame inflation fears
▼ + stars: | 2023-09-06 | 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. Mixed markets in AsiaU.S. stocks fell Tuesday, weighed down by higher oil prices and rising Treasury yields. [PRO] Oversold and overbought stocksThe relative strength index measures the speed and magnitude of stock price moves. It can signal if a stock is oversold, which means it's poised for a bounce, or overbought, suggesting that it's expensive.

Persons: Australia's, Jan Organizations: CNBC, Nikkei, Garden, New York Stock Exchange, Tech, Nvidia, Intel, Samsung, TRM, CNBC Pro Locations: Asia U.S, Asia, Pacific, North Korea

☆ Saudi’s sweetened oil lollipop betrays its nerves
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +2 min

LONDON, Sept 6 (Reuters Breakingviews) - Prince Abdulaziz bin Salman thinks he needs to sweeten his oil lollipop. The Saudi energy minister has announced that the world’s top oil exporter will extend its 1 million barrels a day production cuts for another three months until the end of this year. On the surface, global trends are helpful for oil, reducing the need for extended OPEC+ cuts. Besides uncertainties over the effectiveness of China’s latest property measures, one surprise has been the strength of Iranian supplies, which are set to rise by 1 million barrels this year to 3.5 million barrels per day by late September. Moreover, Washington may not sit idly by if higher oil prices sabotage the Federal Reserve’s inflation target and damage the economy.

Persons: Prince Abdulaziz bin Salman, Brent, Yawen Chen, Hong Kong, Neil Unmack, Streisand Neto Organizations: Reuters, Organization of, Petroleum, X, Hong, Thomson Locations: Saudi, Russia, U.S, China, Washington

☆ CNBC Daily Open: Rising oil prices reignite inflation fears
▼ + stars: | 2023-09-06 | 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 under pressureU.S. stocks fell Tuesday, weighed down by higher oil prices and rising Treasury yields. 'Hell of a good week of data'Last week, we learned inflation is moderating as expected and the jobs market is loosening. In turn, the investment bank thinks the possibility that the Fed will hike rates in September is "off the table."

Persons: Christopher Waller, Goldman Sachs Organizations: CNBC, P Global, New York Stock Exchange, Tech, Nvidia, Intel, Samsung, Saudi Press Agency, West Texas, Federal, Goldman Locations: Saudi Arabia, Russia, Brent, U.S

☆ These 10 brands have the highest customer loyalty—Apple isn’t in the top 3
▼ + stars: | 2023-09-06 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

The company's "Customer Loyalty Index" evaluated Fortune 100 companies across a series of six metrics, excluding 40 companies that lacked sufficient data or didn't interact directly with customers. 3 company, semiconductor giant Intel, featured "some of the lowest volumes of customer service and complaint-related searches," said the report. 4, has long been known for having a cult-like fanbase, but "surprisingly" suffered in the customer service department, the report said. That means people searched online more for Apple-related support questions than most other Fortune 100 companies, DesignRush added. Coca-Cola "has some of the most satisfied customers, with some of the fewest customer service and complaint-related searches," said the report.

Persons: Johnson, DesignRush, Warren Buffett Organizations: Google, Lowe's Intel Corporation Apple, Cola Company PepsiCo, Allstate Corporation Microsoft Johnson, Home Depot, Intel, Apple, Microsoft, Cola, PepsiCo Locations: DesignRush

☆ Apple and Arm sign deal for chip technology that goes beyond 2040
▼ + stars: | 2023-09-06 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

Components manufactured by Arm sit inside a demonstration ARMmbed parking meter on display on the second day of Mobile World Congress in Barcelona, Feb. 28, 2017. Apple has struck a deal with Arm through 2040 and "beyond," Arm said in a U.S. Securities and Exchange Commission filing Tuesday. The news indicates that Apple has secured access to a core piece of intellectual property, the Arm architecture, used in its iPhone and Mac chips, for the foreseeable future. "Further, we have entered into a new long-term agreement with Apple that extends beyond 2040, continuing our longstanding relationship of collaboration with Apple and Apple's access to the Arm architecture," Arm said in its updated SEC filing. Arm's architecture is used in nearly every smartphone chip, including Apple's A-series for iPhones.

Organizations: Mobile, Apple, U.S . Securities, Exchange Commission, Nasdaq, SEC, Intel, AMD Locations: Barcelona

Arm kicked off its roadshow in Baltimore, where influential asset manager T Rowe Price is headquartered, underscoring the fund manager's significance in big IPOs. Arm disclosed the proposed range would value it at between $48 billion and $52 billion. The valuation that Arm is chasing represents a climb-down from the $64 billion valuation at which SoftBank last month acquired the 25% stake it did not already own in the company from its $100 billion Vision Fund. Jamie Mills O’Brien, portfolio manager at British fund manager Abrdn, said he found SoftBank's valuation ask in the IPO "more palatable than initially discussed." Unlike most loss-making but high-growth tech companies that debut with lofty valuations but later plummet below list price, Arm is profitable.

Persons: Group's, T Rowe Price, SoftBank, Jamie Mills O’Brien, Abrdn, Arm, Dado Ruvic, Sara Russo, Bernstein, Goldman Sachs, JPMorgan Chase, Manya Saini, Pablo Mayo, Arun Koyyur, Nick Zieminski Organizations: Arm Holdings, Rivian Automotive Inc, Sands, Cambridge, Vision, Nvidia Corp, Apple, Nvidia, Devices, Intel, Samsung Electronics, REUTERS, Acorn Computers, Apple Computer, VLSI Technology, London Stock Exchange, Nasdaq, SoftBank, Inc, Reuters, Barclays, JPMorgan, Mizuho Financial Group, underwriters, Pablo Mayo Cerqueiro, Thomson Locations: Baltimore, Arlington , Virginia, England, China, United States, Bengaluru, London, Lincoln

☆ SoftBank's Arm aims for over $52 bln valuation in biggest US IPO of the year
▼ + stars: | 2023-09-05 | by ( Manya Saini | Thomson Reuters | Manya Saini Reports On Prominent Publicly Listed U.S. Financial Firms Including Wall Street S Biggest Banks | ) www.reuters.com time to read: +5 min

The valuation that Arm is chasing now represents a climb-down from the $64 billion valuation at which SoftBank last month acquired the 25% stake it did not already own in the company from its $100 billion Vision Fund. Jamie Mills O’Brien, portfolio manager at British fund manager Abrdn, said he found SoftBank's valuation ask in the IPO "more palatable than initially discussed." REUTERS/Kim Kyung-Hoon/File Photo Acquire Licensing RightsReuters first reported on SoftBank's proposed price range for the IPO on Saturday. If the underwriters exercise their right to buy shares in Arm in full as part of 'greenshoe option', it would take the IPO amount to be raised to $5.2 billion. Arm expects to trade on the Nasdaq Global Select Market under the symbol "ARM".

Persons: Group's, SoftBank, Jamie Mills O’Brien, Abrdn, Kim Kyung, Sara Russo, Bernstein, Goldman Sachs, JPMorgan Chase, Manya Saini, Pablo Mayo, Arun Koyyur, Nick Zieminski Organizations: Vision, Nvidia Corp, Apple, Nvidia, Devices, Intel, Samsung Electronics, REUTERS, Rights Reuters, Acorn Computers, Apple Computer, VLSI Technology, London Stock Exchange, Nasdaq, SoftBank, Barclays, JPMorgan, Mizuho Financial Group, underwriters, Pablo Mayo Cerqueiro, Thomson Locations: United Kingdom, China, United States, New York, Tokyo, Japan, Bengaluru, London

☆ ASML to ship first pilot tool in its next product line in 2023 -CEO
▼ + stars: | 2023-09-05 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Piroschka van de Wouw/File photo Acquire Licensing RightsAMSTERDAM, Sept 5 (Reuters) - ASML (ASML.AS) will ship the first pilot tool in its next product line this year as planned, the semiconductor equipment maker's CEO Peter Wennink said, despite some supplier hold-ups. Under pressure from the United States, the Dutch government does not grant ASML licences to export EUV tools to Chinese chipmakers. Like in a camera, the High NA, or high numerical aperture tool, will gather light from a wider angle for up to 70% better resolution, although the ASML tool uses a system of mirrors rather than a lens. Separately, Wennink confirmed that ASML will have more sales in dollar terms from its previous generation "DUV" machines than EUV machines in 2023. ASML is forecasting 30% sales growth this year due in part to strong demand from Chinese customers for the older machines.

Persons: de, Peter Wennink, Wennink, Toby Sterling, Alexander Smith Organizations: REUTERS, Rights, NA, Reuters, Intel, Samsung, SK Hynix, Micron, Thomson Locations: Veldhoven, Netherlands, Eindhoven, United States, Arizona, Taiwan

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