Latest news with #USCHIPSAct
New Indian Express
3 days ago
- Business
- New Indian Express
Explained: Why President Trump wants Intel CEO Lip-Bu Tan to step down
CHENNAI: President Trump has called for the resignation of Intel CEO Lip-Bu Tan, citing allegations of conflicts of interest. The criticism focuses on Tan's investment and management ties to several Chinese companies, some reportedly linked to Chinese military contractors. Intel, the US technology giant and the world's largest maker of computer processors and semiconductor chips, has received substantial subsidies under the US CHIPS Act to expand domestic manufacturing. This has heightened scrutiny, as a CEO with alleged financial ties to China raises politically sensitive questions about national security and the optics of leading a federally supported semiconductor company. The controversy has drawn attention from lawmakers such as Senator Tom Cotton, who have questioned Tan's past roles and investments. This congressional pressure has given the President more political space to criticise him publicly. Tan, however, has defended himself, stating that he enjoys the full backing of Intel's board. Intel has said that Tan has divested from some positions, but public filings still list certain investments as current, raising questions over whether the divestments are complete. Trump's call for his resignation rests on three main premises: concrete national-security concerns over Tan's China investments; political leverage arising from Intel's receipt of large US subsidies; and the President's broader pattern of publicly pressuring corporate leaders. The outcome will depend on the credibility of Intel's disclosures, the clarity over Tan's divestments, and whether the board maintains its support.
Yahoo
12-06-2025
- Business
- Yahoo
Micron to invest $200 billion in US memory facilities
Memory chip maker Micron (MU) announced on Thursday that it will invest an additional $30 billion in the US, as it looks to build out its manufacturing and research and development facilities in Idaho and New York. The move brings Micron's total US manufacturing and R&D investments up to roughly $200 billion which will create some 90,000 direct and indirect jobs, the company said. Micron is receiving about $6.5 billion in funding from the US CHIPS Act. The plans call for Micron to build a second memory manufacturing plant at its Boise, Idaho, facility and a massive chip fabrication complex in New York. The company is also updating and expanding its Virginia plant. Micron also said it expects the second Idaho plant to help it bring its advanced high-bandwidth memory (HBM) manufacturing to the US. HBM is a key component in AI data centers. 'Micron's investment in advanced memory manufacturing and HBM capabilities in the U.S., with support from the Trump Administration, is an important step forward for the AI ecosystem,' Nvidia (NVDA) CEO Jensen Huang said in a statement. 'Micron's leadership in high-performance memory is invaluable to enabling the next generation of AI breakthroughs that NVIDIA is driving. We're excited to collaborate with Micron as we push the boundaries of what's possible in AI and high-performance computing,' Huang added. All totaled, Micron says the investments will allow the company to produce 40% of its DRAM memory in the US. Its initial Idaho plant is expected to begin pumping out the hardware in 2027. Micron also says it is set to begin preparing the ground for its New York facilities later this year. 'This approximately $200 billion investment will reinforce America's technological leadership, create tens of thousands of American jobs across the semiconductor ecosystem and secure a domestic supply of semiconductors—critical to economic and national security,' Micron CEO Sanjay Mehrotra said in a statement. 'We are grateful for the support from President Trump, Secretary Lutnick and our federal, state, and local partners who have been instrumental in advancing domestic semiconductor manufacturing.' Micron isn't the only company bringing HBM production to the US, though. South Korea's SK Hynix is also building a new HBM plant in Indiana as part of a $3.8 billion construction project. The Trump administration, and the Biden administration before it, has made onshoring semiconductor manufacturing a key component of its domestic agenda, as it seeks to wean itself off of the country's dependence on foreign-made chips. Companies ranging from Intel (INTC) and TSMC (TSM) to Samsung and GlobalFounderies (GFS) and others have recently announced plans to build or upgrade their facility throughout the country, thanks in part to billions of dollars in funding through the CHIPS Act. Email Daniel Howley at dhowley@ Follow him on X/Twitter at @DanielHowley. Sign in to access your portfolio
Yahoo
12-06-2025
- Business
- Yahoo
Micron to invest $200 billion in US memory facilities
Memory chip maker Micron (MU) announced on Thursday that it will invest an additional $30 billion in the US, as it looks to build out its manufacturing and research and development facilities in Idaho and New York. The move brings Micron's total US manufacturing and R&D investments up to roughly $200 billion which will create some 90,000 direct and indirect jobs, the company said. Micron is receiving about $6.5 billion in funding from the US CHIPS Act. The plans call for Micron to build a second memory manufacturing plant at its Boise, Idaho, facility and a massive chip fabrication complex in New York. The company is also updating and expanding its Virginia plant. Micron also said it expects the second Idaho plant to help it bring its advanced high-bandwidth memory (HBM) manufacturing to the US. HBM is a key component in AI data centers. 'Micron's investment in advanced memory manufacturing and HBM capabilities in the U.S., with support from the Trump Administration, is an important step forward for the AI ecosystem,' Nvidia (NVDA) CEO Jensen Huang said in a statement. 'Micron's leadership in high-performance memory is invaluable to enabling the next generation of AI breakthroughs that NVIDIA is driving. We're excited to collaborate with Micron as we push the boundaries of what's possible in AI and high-performance computing,' Huang added. All totaled, Micron says the investments will allow the company to produce 40% of its DRAM memory in the US. Its initial Idaho plant is expected to begin pumping out the hardware in 2027. Micron also says it is set to begin preparing the ground for its New York facilities later this year. 'This approximately $200 billion investment will reinforce America's technological leadership, create tens of thousands of American jobs across the semiconductor ecosystem and secure a domestic supply of semiconductors—critical to economic and national security,' Micron CEO Sanjay Mehrotra said in a statement. 'We are grateful for the support from President Trump, Secretary Lutnick and our federal, state, and local partners who have been instrumental in advancing domestic semiconductor manufacturing.' Micron isn't the only company bringing HBM production to the US, though. South Korea's SK Hynix is also building a new HBM plant in Indiana as part of a $3.8 billion construction project. The Trump administration, and the Biden administration before it, has made onshoring semiconductor manufacturing a key component of its domestic agenda, as it seeks to wean itself off of the country's dependence on foreign-made chips. Companies ranging from Intel (INTC) and TSMC (TSM) to Samsung and GlobalFounderies (GFS) and others have recently announced plans to build or upgrade their facility throughout the country, thanks in part to billions of dollars in funding through the CHIPS Act. Email Daniel Howley at dhowley@ Follow him on X/Twitter at @DanielHowley. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Korea Herald
03-04-2025
- Automotive
- Korea Herald
S. Korean chip industry wary despite exemption from US reciprocal tariff
With US President Donald Trump's announcement of a 25 percent tariff on South Korean imports, South Korea's semiconductor industry let out a sigh of relief Thursday for being excluded but remained cautious as sector-specific tariffs loomed near. The White House on Wednesday said some goods, including semiconductors, steel and automobiles, would not be subject to the new tariff plans, imposing a minimum 10 percent "baseline" tariff on exports from all countries to the United States and country-specific "reciprocal" tariffs that include 25 percent duties for South Korea. Industry officials remained vigilant as the US administration has signaled separate sector-specific duties for those items. South Korea's leading chipmakers, Samsung Electronics Co. and SK hynix Inc., have not issued official statements, but they are actively discussing strategies to mitigate risks from any future trade policies. "There are still uncertainties," said an official from a South Korean semiconductor company, who asked not to be identified. "The global semiconductor value chain is highly complex, and major US tech companies play a central role. The US government may need more time to picture details." Already, 25 percent tariffs on imported cars and key auto parts were set to take effect Thursday, potentially impacting all related industries. Experts suggest that South Korean firms may need to strengthen their US production strategies to align with Trump's push for domestic job creation. "Trump continues to pressure foreign companies to establish manufacturing facilities in the United States and create jobs," said Kim Dae-jong, a professor at Sejong University. Adding to concerns, Trump's has also expressed skepticism toward providing subsidies under the US CHIPS Act. Samsung Electronics signed a deal last year to receive a $4.7 billion subsidy from the US Department of Commerce for its $37 billion investment in Texas, while SK hynix is set to receive $458 million in subsidies for its investment in Indiana, both under the CHIPS Act. (Yonhap)
Yahoo
18-02-2025
- Business
- Yahoo
Intel stock posts biggest five-day gain in history amid report of potential breakup
Intel (INTC) stock jumped 16% Tuesday following a report that its rivals Broadcom (AVGO) and TSMC (TSM) are exploring potential deals with the chipmaker that would split it into two. The Wall Street Journal reported late Saturday that Broadcom (AVGO) is considering making a bid for Intel's product business, which designs semiconductors for computers and servers. The Journal, which cited people familiar with the matter, said TSMC has looked at controlling some or all of Intel's factories, potentially as part of an investor consortium. The companies have not submitted deals to Intel, and the talks are preliminary and informal, the Journal wrote. Broadcom shares fell nearly 2% Tuesday, while US-listed TSMC shares were down less than 1%. Intel's 16% gain Tuesday was its biggest single-day jump since March 2020. The surge puts Intel shares up 38.5% over the past five days, the largest gain in the company's history as a public company. Intel stock has been on a tear over the past week. The stock notched its biggest weekly gain since 2000 last Friday as the US signaled support for domestic chipmaking and reports surfaced that the US government was allegedly in talks with TSMC to support Intel's turnaround efforts. Intel's manufacturing business primarily makes chips for itself (Intel's product business) but opened up a foundry — in other words, began taking on external customers — in 2022 under the leadership of then-CEO Pat Gelsinger. Gelsinger had pushed to launch a foundry business competitive with Taiwan's TSMC in an attempt to right Intel's struggling manufacturing division, which had suffered from setbacks since the mid-2010s. The turnaround effort has not been successful to date, given that Intel's manufacturing business has struggled to take on outside customers and continues to bleed cash. Intel's earnings disappointed investors throughout 2024, and the stock fell around 60% last year. Gelsinger was ousted by Intel's board in December. The company has become an acquisition target, and the interest from Broadcom and TSMC follows reports of potential takeovers by Qualcomm (QCOM), Arm (ARM), and Apollo last year. Wall Street analysts have favored Intel splitting its business into two. Raymond James analyst Srini Pajjuri wrote in a note to investors Monday: "In our view, splitting Intel Product and Foundry is the key to unlocking value." Intel announced plans last year to establish an independent subsidiary for its foundry business, separating its finances and operations from its products division. Analysts viewed the move as the company paving the way for a potential split. Some analysts were less optimistic about an Intel breakup. Bank of America's Vivek Arya said in a Tuesday note to investors that "any potential INTC split could be time-consuming and complicated," noting constraints related to Intel's US CHIPS Act funding, which limits its ability to fully sell its manufacturing business. A Intel-TSMC deal could also face global regulatory hurdles and antitrust concerns from China, Arya said. Laura Bratton is a reporter for Yahoo Finance. Follow her on Bluesky @ Email her at
