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Yahoo
30-04-2025
- Business
- Yahoo
President Donald Trump's first 100 days: Companies that will invest $1B or more in the US
President Donald Trump is marking the first 100 days of his second term, highlighting some of the investments companies will make within the United States. Trump promised in December to cut red tape for any company willing to invest $1 billion or more in the U.S. "Any person or company investing ONE BILLION DOLLARS, OR MORE, in the United States of America, will receive fully expedited approvals and permits, including, but in no way limited to, all Environmental approvals," Trump wrote on his social media platform, Truth Social. "GET READY TO ROCK!!!" These Companies Have Announced Their Intention To Increase Us Manufacturing Amid Trump's First 100 Days The following companies, and others, have made such commitments since Trump returned to office in January: In February, the tech giant announced that it would spend more than $500 billion in the U.S. over the next four years. The investments include a new plant in Texas, an educational manufacturing academy and investments in AI and silicon engineering. "We are bullish on the future of American innovation, and we're proud to build on our long-standing U.S. investments with this $500 billion commitment to our country's future," said Apple CEO Tim Cook. "From doubling our Advanced Manufacturing Fund to building advanced technology in Texas, we're thrilled to expand our support for American manufacturing." The semiconductor company, which had a market capitalization of $179 billion in April 2020, now boasts a market cap of more than $2.6 trillion, thanks primarily to the explosive growth of AI technology. On April 14, the company announced that it will spend $500 billion on infrastructure, including a manufacturing facility that will build AI supercomputers in the U.S. for the first time. "The engines of the world's AI infrastructure are being built in the United States for the first time," said Nvidia CEO Jensen Huang. "Adding American manufacturing helps us better meet the incredible and growing demand for AI chips and supercomputers, strengthens our supply chain, and boosts our resiliency." Read On The Fox Business App Trump Sees 'Manufacturing Boom' In First Full Jobs Report Of Second Term The South Korean-based automaker announced in March a $21 billion investment in the U.S. between 2025 and 2028. It includes: $9 billion to expand U.S. automobile production to 1.2 million units annually $6 billion to enhance parts, logistics and steel business, increase the localization of auto parts and strengthen supply chains $6 billion to expand future industries and strengthen external partnerships and energy infrastructure, including EV charging According to the company, "investment is expected to create more than 100,000 direct and indirect job opportunities by 2028, including 14,000 direct full-time jobs." When announcing the opening of a new 225,000-square-foot manufacturing facility in Durham, North Carolina, the pharmaceutical manufacturer also said it would invest an additional $8 billion by 2028. Treasury Secretary Bessent: 'I'm Not Worried About Inflation' From Tariffs "Expanding our state-of-the-art manufacturing facility in Durham marks a significant milestone in our efforts to strengthen our production and manufacturing capabilities in the U.S.," said Sanat Chattopadhyay, executive vice president and president, Merck Manufacturing Division. "The cutting-edge technologies employed here empower our workforce and underscore our leadership in innovation to support patients everywhere." Other companies committed to investing $1 billion or more include Taiwan Semiconductor Manufacturing Company (TSMC), Johnson & Johnson, Eli Lilly, Novartis, Stellantis and Chobani. Click Here To Read More On Fox Business Original article source: President Donald Trump's first 100 days: Companies that will invest $1B or more in the US Sign in to access your portfolio
Yahoo
29-04-2025
- Business
- Yahoo
LS GreenLink breaks ground on tallest building in Virginia
CHESAPEAKE, Va. (WAVY) — Even amid uncertainty about the offshore wind industry in the United States, ground was ceremonially broken Monday for a submarine power transmission cable factory that will become the tallest building in Virginia. LS GreenLink, a subsidiary of South Korean-based LS Cable System Ltd., plans to invest $700 million to build 750,000 square feet of manufacturing space on the banks of the southern branch of the Elizabeth River. The company spent $15.1 million in March for nearly 100 acres of land located at 1213 Victory Boulevard in the Saint Juliens Annex part of the city, according the city records. The high-voltage cables being built by the company will be used in the offshore wind industry to bring power ashore. One of the reasons the company chose to locate in the United States is due to $100 million in tax credits from the Inflation Reduction Act set aside for clean energy projects. While both the act and industry has been targeted by President Donald Trump in his second term, local leaders and company executives are moving forward with optimism. 70-story, $681M submarine cable plant planned for Chesapeake would be Virginia's tallest building 'Our order book is starting to fill well into the 2030s, reflecting the growing demand for resilient energy infrastructure,' Koo Bon-kyu, president of South Korean company LS Cable & System, said during the ceremony. Tennet, a European grid operator will be the Virginia factory's first customer. LS GreenLink's investment makes it the largest economic development project in Chesapeake history and one the largest ever in Hampton Roads history. It's estimated more than 330 jobs will come with the project. Patrick Shim, who is the managing director of LS GreenLink, said the workforce is one of the reasons the company chose Virginia. Gov. Glenn Youngkin, (R-Va.) was front in center as the first 'cable' was connected and praised the company for its commitment to the Commonwealth. He did not, however, take questions from both the South Korean and local media about if federal policy uncertainty will challenge the project. While both LS GreenLink leaders said they planned a joint-press conference with Youngkin and Juan Pablo Segura, the Virginia Secretary of Commerce and Trade, both left after the formal ceremony. The departure left Chesapeake Mayor Rick West to field questions alone about the Trump administration's potential funding cuts for renewable energy. 'The fact that we are so far along on this project, it makes absolutely no sense to not continue with the incentives because it is not only economically wise for us to do, but environmentally as well,' West said, adding that he recently wrote an op-ed on the issue. Chesapeake City Council also recently endorsed a $50 million U.S. Department of Transportation Grant that would help offset the costs of designing and building a pier from the site into the Elizabeth River. Cables will be shipped from the factory straight to the project site. Patrick Shim, the managing director for LS GreenLink, said efforts are ongoing to make sure federal officials continue to support the project. 'One of the main reasons we came to Virginia is access to workforce,' Shim said. 'We are just bringing capital and quality from South Korea.' Shim also wanted to point out that tax credits are earned on performance. 'This is not free money, it's based on what we do,' Shim said. 'It is a big part of why we are coming here.' Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
29-04-2025
- Business
- Yahoo
Construction begins on massive underwater cable plant in Chesapeake
A multimillion-dollar underwater cable factory in Chesapeake has officially broken ground, adding another part of the offshore wind supply chain to Hampton Roads. The 750,000-square-foot plant — part of a $680-million investment by LS Greenlink USA, a subsidiary of South Korean-based LS Cable & System — is expected to create more than 330 full-time jobs. According to public records, LS GreenLink USA purchased the 96.62 acres of land adjacent to the Southern Branch Elizabeth River in Chesapeake from International Bio-Energy Virginia Real Estate LLC for an undisclosed amount. Koo Bon-kyu, president CEO of LS Cable & System, said the plot has 'plenty of room to expand' the plant for future phases. 'Years ago, people were talking about Virginia as a victim of sea-level rise or a victim of climate change,' said Sen. Tim Kaine. 'Those facts may be accurate, but nobody wants to be the recipient of problems. We want to be the innovator. We want to be the winner. Whether its LS Greenlink here in Chesapeake or the complete electrification of the cranes at the Port of Virginia, … (renewable energy projects) are moving Virginia into a leadership position.' The plant is expected to be fully operational by the first quarter of 2028. Gov. Glenn Youngkin said the collaboration between economic development officials in Virginia and Chesapeake has been working with counterparts in Korea for years to get the plant to the commonwealth. He approved a $13.2 million grant from the Commonwealth's Opportunity Fund to assist the city of Chesapeake with the project. The company is eligible to receive state benefits from The Port of Virginia Economic and Infrastructure Development Zone Grant Program. He also said the well-paying jobs will be a good asset to the state's economy. The company will also receive $99 million in tax credits from the Inflation Reduction Act of 2022. 'At the beginning of all of this, it took vision,' Youngkin said. The tower for the facility is expected to be 660 feet. It would be tallest building in Virginia, exceeding the height of the The Westin Virginia Beach Town Center, which stands at 508 feet. In October, the Chesapeake City Council voted unanimously to approve a conditional use permit for the height exception. The plant's tower is needed because as the cables are made, gravity helps center the core of the cable. Once produced, the cables are stored in spools and loaded onto ships directly from the pier that's located on the project site, where they can then be shipped out for offshore wind energy projects across the globe. Koo said many of the company's first contracts will be for offshore wind projects in Europe. While the city has no direct influence on recent tariff policy by the Trump administration, Chesapeake Mayor Rick West said he is working on letters and op-eds regarding the issue. Koo said while there is some concern about how tariffs on copper could affect business, the company could adjust pricing on products or take other risk management strategies to address rising costs. 'We're working very closely with our regional organizations as well as the state of Virginia Economic Development Partnership to truly understand what the impact of tariffs will be,' said Steven Wright, economic development director for the city of Chesapeake. ' At every step along the way, we will try to minimize the impacts (of tariffs) on this project.' Eliza Noe,
Yahoo
19-04-2025
- Business
- Yahoo
DoubleDown Interactive Co., Ltd. (DDI): A Bull Case Theory
We came across a bullish thesis on DoubleDown Interactive Co., Ltd. (DDI) on Substack by Kairos Research. In this article, we will summarize the bulls' thesis on DDI. DoubleDown Interactive Co., Ltd. (DDI)'s share was trading at $9.85 as of April 17th. DDI's trailing P/E was 3.94 according to Yahoo Finance. A graph depicting the increasing downloads of the mobile game app. Double Down Interactive (DDI), a South Korean-based developer originally known as The8Games Co., has evolved into a key player in the social casino and mobile gaming sector. With a strong foundation in casual web-based games, DDI made its mark in 2010 with the launch of DoubleDown Casino, one of the first social casinos that utilizes virtual currency without real-money gambling. Over time, the company has expanded its portfolio with titles like Double Down Classic Slots and Double Down Fort Knox, and most recently acquired SuprNation AB in 2023—its first foray into real-money I-Gaming. This acquisition granted DDI licenses in highly regulated but stable Western European markets, including the UK and Sweden, positioning the company to capitalize on a $25 billion serviceable addressable market in I-Gaming, with potential expansion into other European countries. Despite impressive monetization improvements, DDI has struggled with investor sentiment due to a $415 million lawsuit settlement, ongoing user decline post-COVID, and FX and cost-related headwinds from SuprNation. The company operates a freemium model and has seen monthly active users drop from 1.7 million in 2021 to 1.4 million, highlighting both post-pandemic normalization and the inherent churn in the mobile app market. Nevertheless, DDI has increased its payer conversion rate from 5.2% in 2019 to 6.7% in 2024 and more than doubled revenue per daily active user over the same period. Compared to larger competitors like Playtika, DDI has proven more efficient in monetizing users, supported by strong data analytics and targeted engagement strategies. Financially, DDI stands out with a net cash position of $380 million—roughly 78% of its $487 million market cap—and trades at just 3x free cash flow, offering a 32% FCF yield. While management has not historically prioritized buybacks or dividends, they've indicated a preference for pursuing accretive acquisitions to drive growth. With the social casino market valued at $7.5 billion and I-Gaming growing rapidly, DDI has multiple paths to expand its reach. Catalysts such as economic downturns (which often boost gambling-related activity), further M&A, and continued margin expansion present significant upside potential. Even with inherent risks—such as regulatory uncertainty, fierce competition, and ongoing user churn—DDI offers a compelling valuation. A base case DCF analysis supports a target price of $21.32 per share, implying significant upside from current levels and positioning DDI as a deeply discounted opportunity with optionality tied to both organic improvements and strategic growth in the I-Gaming sector. DoubleDown Interactive Co., Ltd. (DDI) is not on our list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 5 hedge fund portfolios held DDI at the end of the fourth quarter which was 4 in the previous quarter. While we acknowledge the risk and potential of DDI as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than DDI but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock. Disclosure: None. This article was originally published at Insider Monkey. Sign in to access your portfolio
CNN
24-03-2025
- Automotive
- CNN
Hyundai to announce a $20 billion investment in the United States
South Korean-based Hyundai will announce a $20 billion investment in US on-shoring on Monday, which includes a $5 billion steel plant in Louisiana, the White House confirmed to CNN. The investment is expected to be announced this afternoon at the White House by President Donald Trump, Hyundai Chairman Euisun Chung and Louisiana Governor Jeff Landry. 'More investments, more jobs, and more money in the pockets of hardworking Americans – all thanks to President Trump's economic policies,' White House Press Secretary Karoline Leavitt wrote on social media. CNBC first reported the announcement. Hyundai didn't immediately respond to CNN's request for comment. Trump has already enacted 25% tariffs on steel and aluminum imports, as well as levies on cars from Asia and Europe set to go into effect next month. The aim is to build more cars in the United States; however, it's not that simple. For example, Stellantis, which makes cars in North America under the Jeep, Ram, Dodge and Chrysler brands, agreed to re-open a shuttered plant in Illinois as part of a deal to end a 2023 strike by the United Auto Workers. It pointed to those re-opening plans once again in January, soon after Trump took office, to assure him it would increase American car production. But that plant won't reopen until 2027. And despite Trump's argument that his tariff threats are needed to 'save' the US auto industry, US factories already produce the lion's share of North American auto production. According to data from S&P Global Mobility, there were 10.2 million cars built at US assembly plants last year, compared to 4 million at Mexican factories and 1.3 million in Canada. There are about 1 million workers at American factories producing cars, trucks and auto parts. The Hyundai announcement comes ahead of April 2, when even more sweeping tariffs might be enacted, targeting countries with a large trade surplus like South Korea. Trump is encouraging investments in American manufacturing, with similar announcements being made by Taiwan Semiconductor Manufacturing Company and Japan's SoftBank. Apple said last month it would invest $500 billion to expand facilities, manufacturing and projects across the United States over the next four years. The announcement appeared to be aimed at helping the company avoid new tariffs on goods imported from China, although some of the investment efforts were likely already underway. Oracle, OpenAI and SoftBank also announced in January that they would team up to create a new company, called Stargate, to grow artificial intelligence infrastructure in the United States. Together, the companies plan to invest $500 billion into the project in the coming years. New presidents and presidents-elect have often held joint announcements with companies about massive US investments to promote American manufacturing. But their track record for success is mixed. Trump and Foxconn announced in 2017 a $10 billion electronics factory in Wisconsin that was expected to create 13,000 jobs. But the company eventually abandoned most of its plans for the facility and the high-tech products it was supposed to build. The company in 2021 said it would invest just $672 million in a revised deal that would create fewer than 1,500 jobs. CNN's Chris Isidore and Claire Duffy contributed to this report.
