Latest news with #TaiwanSemiconductorManufacturingCo.
Yahoo
5 days ago
- Business
- Yahoo
US Is Reworking Subsidy Awards to Chipmakers, Lutnick Says
(Bloomberg) -- US Commerce Secretary Howard Lutnick said the Trump administration has been reworking agreements forged with semiconductor makers under the 2022 Chips Act to secure what he called better terms aimed at generating additional domestic investment. ICE Moves to DNA-Test Families Targeted for Deportation with New Contract The Global Struggle to Build Safer Cars NYC Residents Want Safer Streets, Cheaper Housing, Survey Says The Buffalo Architect Fighting for Women in Design Lutnick cited the decision in March by Taiwan Semiconductor Manufacturing Co., a recipient of $6.6 billion in Chips Act grants, to boost its US investment commitment. The company is adding $100 billion to a previous $65 billion pledge, but without any additional funding from the government, Lutnick said. 'Are we renegotiating? Absolutely, for the benefit of the American taxpayer, for sure,' Lutnick said Wednesday at a Senate Appropriations Committee. 'We're getting more value for the same dollars.' The Commerce secretary even suggested the administration may not follow through on some of the planned awards. 'You will see that all the deals are getting better, and the only deals that are not getting done are deals that should have never been done in the first place,' he said. Read: US Chip Grants in Limbo as Lutnick Pushes Bigger Investments (3) Trump has urged Congress to repeal the 2022 Chips and Science Act that was a centerpiece of President Joe Biden's domestic agenda, though Republican and Democratic lawmakers have little desire to revoke a bipartisan law promising $52 billion in subsidies. Lutnick has previously signaled that the Commerce Department might withhold Chips Act grants to press companies to follow in TSMC's footsteps and expand their planned domestic semiconductor projects. During his nearly two-hour appearance before the panel, Lutnick addressed a range of issues essential to the semiconductor industry, including the administration's push to bring to the US more chips-related investment. He defended artificial intelligence deals with the United Arab Emirates unveiled last month during President Donald Trump's trip to the Middle East, saying the accords were crafted to spur complementary levels of spending in the US. The path for those AI agreements in the Gulf was opened by the administration's decision to revoke a regulation launched during President Joe Biden's final week in office that had drawn strenuous objections from US allies and companies including Nvidia Corp. and Oracle Corp. The so-called AI diffusion rule — aimed at denying China access to advanced semiconductors via third parties — would have taken effect last month and created three broad tiers of access for countries seeking AI chips, an approach that Lutnick assailed a 'illogical.' In its place, the Trump team is moving toward negotiating individual deals with countries while maintaining security guarantees designed to prevent Chinese companies from obtaining AI chips. 'Our view is we are going to allow our allies to buy AI chips, provided they're run by an approved American data center operator, and the cloud that touches that data center is an approved American operator,' Lutnick said. Tensions over US efforts to rein in China's tech ambitions have deepened the conflict over trade between the world's two largest economies. Trump and Chinese officials have accused each other of violating the spirit of recent negotiations in Geneva, with leaders in Beijing objecting to American chip export controls and their counterparts in Washington expressing concerns over a crackdown by China on sales of critical minerals. The US has moved to pressure allies against adopting Huawei Technologies Co.'s new Ascend chip, warning that any use risked violating export controls imposed by Washington. The Commerce Department said last month that it was issuing guidance to warn the public about 'the potential consequences of allowing US AI chips to be used for training and inference of Chinese AI models.' Lutnick insisted that China still lacks the capability to produce high volumes of sophisticated semiconductors, a sign that US export controls have limited China's technological progress. He estimated that China could probably produce about 200,000 advanced chips, like the kind used to train artificial-intelligence services or run smartphones, a tiny number compared with the country's demand. 'They say they are making them and they are not,' he said. --With assistance from Jamie Tarabay, Lynn Doan, Peter Elstrom and Debby Wu. (updates with more comments from Lutnick in the fourth paragraph.) 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Nikkei Asia
03-06-2025
- Business
- Nikkei Asia
TSMC expects record 2025 profit despite US tariffs, currency volatility
HSINCHU, Taiwan -- Taiwan Semiconductor Manufacturing Co. on Tuesday said it expects to log a record profit for 2025 despite uncertainties brought on by geopolitical tensions, tariffs and volatile exchange rates. Speaking after TSMC's annual general meeting, Chairman and CEO C.C. Wei said AI demand remains strong and that the only thing he fears is a global economic slowdown.
Nikkei Asia
22-05-2025
- Nikkei Asia
Xiaomi aims to take on Apple with first in-house smartphone chip
TAIPEI -- China's top smartphone maker Xiaomi on Thursday introduced its first self-developed smartphone chipset, produced with the same cutting-edge technology that Apple uses, as the handset maker continues working to upgrade its offerings amid growing Washington-Beijing tensions. The Xring O1 smartphone system-on-chip (SoC) was designed to be manufactured using Taiwan Semiconductor Manufacturing Co.'s 3-nanometer chip production technology, currently the most advanced in the world. In addition to Apple, leading mobile chip developers MediaTek and Qualcomm use TSMC's 3-nm tech for their chips.
Bloomberg
20-05-2025
- Business
- Bloomberg
Cathie Wood Buys Most TSMC Depositary Receipts in Nearly a Year
Cathie Wood's funds made their biggest purchase of Taiwan Semiconductor Manufacturing Co. shares in nearly a year, underscoring a change in stance from being mostly sellers of the chipmaker since the third quarter of last year. Wood's flagship fund Ark Innovation ETF purchased 123,587 American depositary receipts of Taiwan's largest company on Monday, while Ark Next Generation Internet ETF bought 74,189 ADRs, Ark Investment Management LLC data compiled by Bloomberg show.
Nikkei Asia
19-05-2025
- Business
- Nikkei Asia
Nvidia to work with TSMC and Foxconn on AI supercomputer for Taiwan
TAIPEI -- Nvidia founder and CEO Jensen Huang on Monday announced plans to build an AI supercomputer for Taiwan with the island's two top tech players, Foxconn and Taiwan Semiconductor Manufacturing Co., and the Taiwanese government, as demand for "sovereign AI" grows around the world. Huang, giving a keynote in Taipei ahead of the annual Computex Taipei trade event, said Taiwan is at the center of the AI revolution and is where a lot of the most important suppliers are based.
