CHINA SEMICONDUCTORS SALE
Taiwan, India threaten China’s top spot in EM equity portfolios
The rise of Taiwan and India is allowing investors to better diversify by betting on artificial intelligence chipmakers and the infrastructure boom coming from Modi’s programs to modernize the country. As the US rate cycle peaks out, having attractive options in emerging markets is fundamental to any pivoting of capital flows.
5 world market themes for the week ahead
The upcoming week promises significant market activity with pressure on Joe Biden's election prospects, anticipation of a Fed rate cut, key Q2 earnings reports, an ECB meeting, and the unveiling of the UK legislative agenda by King Charles. Analysts and investors should brace for developments from the U.S., Europe, and China that could influence global markets.
Germany to phase out China's Huawei and ZTE components from its 5G network
Germany's Interior Minister Nancy Faeser said, "In this way, we are protecting the central nervous systems of Germany as a business location -- and we are protecting the communication of citizens, companies, and the state."
US chipmaker Analog Devices increases India headcount by 30%
Analog Devices has offices in Bengaluru, Gandhinagar, and Hyderabad, with a current workforce of 1,500 in India, including 1,200 engineers, according to Srinivas Prasad, senior director and head of Analog Devices in India. Globally, the company employs 26,000 people across 31 countries, with over 11,000 being engineers.
All about chip giant TSMC that crossed $1 trillion market cap
Set up by MIT and Stanford graduate Morris Chang in 1987, TSMC soon became the leader of the semiconductor industry. The Taiwan-based company manufactures almost 90% of the world's total chips and is the sole supplier of tech giants like Nvidia, Apple, Qualcomm AMD and others.
EU governments hesitant on Chinese EV tariffs as trade spat escalates
Germany, whose carmakers made a third of their sales last year in China, wants to stop the tariffs, according to a government source, while France has been among the firmest backers.
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Purplle’s Rs 1,000 crore funding; FirstCry, Unicommerce IPOs cleared
Omnichannel beauty platform Purplle has closed a Rs 1,000 crore funding round. This and more in today’s ETtech Top 5.
China’s exports surge more than expected in boost for economy
Beijing is relying on sales abroad to offset weak consumer spending at home, where a real estate slump has led households to tighten their belts.
How China rose to lead the world in cars and solar panels
Heavy subsidies for industry, together with weak sales in China, have set the stage for an export boom, raising fears of factory job losses elsewhere
US is slowing AI chip exports to Middle East by Nvidia, AMD
In October, the Commerce Department added much of the Middle East to chip export restrictions that originally focused on China and a handful of other foreign adversaries. That meant companies needed a special US government license to ship cutting-edge semiconductors and chipmaking tools to countries such as Saudi Arabia and the UAE.
If China invades Taiwan, ASML and TSMC can disable chip machines
ASML Holding NV and Taiwan Semiconductor Manufacturing Co. have measures in place to remotely disable chipmaking machines in the event of a Chinese invasion of Taiwan. The US government has expressed concerns about the impact of such an attack on the global semiconductor supply chain. ASML's advanced EUV machines are crucial in this scenario, with TSMC being a major client. The stakes are high as Taiwan produces around 90% of the world's most advanced chips.
New Taiwan president Lai hails 'glorious' democracy
Taiwan President Lai Ching-te has hailed the arrival of a "glorious era" for Taiwan's democracy and called on China to cease political and military intimidation. In an inauguration speech, Lai thanked citizens for refusing to be swayed by external forces and urged them to demonstrate their resolution to defend their nation. Lai has been described by Beijing as a "dangerous separatist" for his past comments on Taiwan's independence, but has since moderated his rhetoric.
Charting the global economy: US inflation eases; rescue package for China property crisis
Soft retail sales, manufacturing signal cooling demand. As Biden hiked tariffs, China's economic recovery shifted to manufacturing.
Few Chinese electric cars are sold in U.S., but industry fears a flood
American automakers expressed their approval of the Biden administration's decision on Tuesday to levy a 100% tariff on electric vehicles imported from China. They stated that these vehicles could undercut billions of dollars of investments made in electric vehicle and battery manufacturing facilities in the United States.
How China rose to lead the world in cars and solar panels
Top leaders in the United States and Europe have started urging China to reduce its exports to the world and boost its imports.
Global chips battle intensifies with $81 billion subsidy surge
The concern over China’s rapid advances in key electronics turned into a full-scale panic during the pandemic because chip shortages emphasised the significance of these tiny devices for economic security.
SoftBank sells off Vision Fund assets as Son pivots to AI, chips
SoftBank is shifting focus to AI and semiconductors, while its Vision Fund is selling stakes or writing down billions of dollars worth of its publicly-listed companies. SoftBank founder Masayoshi Son is looking to bankroll a $100-billion chip venture to compete with Nvidia for providing semiconductors to power the development of AI services.
How China's iPhone killer has sharpened its knife
Huawei's technological advancements and market dominance has posed a significant threat to Apple's iPhone in China. Despite US sanctions, Huawei's innovative high-end phones like the Mate 60 series continue to outperform Apple, leading to a decline in Apple's market share.
US chip bans not meant to hobble China's growth, Blinken says
Since 2022, US officials have imposed sweeping controls on which computing chips can be exported to China, cutting off some sales from Nvidia, Advanced Micro Devices and Intel, among others. Those controls followed earlier bans on shipping chips to Huawei Technologies.
TSMC's first quarter profit rises 9%, beats forecasts
TSMC's Q1 net profit surpasses forecasts, driven by AI chip demand. Revenue exceeds expectations, stock hits record high. Capital expenditure increases. ASML reports robust sales despite U.S.-led restrictions.
Senior-level IT hiring rebounds; China's BBK group resets India sales strategy
Indian IT companies are back headhunting for senior roles. This and more in today’s ETtech Top 5.
Tata chip unit gets Cabinet nod; Sridhar Ramaswamy named Snowflake CEO
The Rs 91,000-crore project will be set up in Gujarat’s Dholera district in partnership with Taiwanese Powerchip Semiconductor Manufacturing Corp (PSMC), Union communications and IT minister Ashwini Vaishnaw told a press briefing on Thursday.
Chip giant TSMC shifts away from hotspot Taiwan with Japan plant
Taiwan Semiconductor Manufacturing Company, which counts Apple and Nvidia as clients, produces half the world's chips, used in everything from smartphones to satellites and increasingly to power AI technology.
US-based Teradyne pulled $1 billion worth of manufacturing from China amid US export controls
Massachusetts-based Teradyne moved its production out after US rules issued in October 2022 restricted exports to semiconductor manufacturing facilities there as part of an effort to keep US technology from helping China's military.
Chipmaker ASML expects US, Dutch export rules to hit China sales by 10-15%
Following a US-led campaign to slow Beijing's technological and military advances, ASML has been restricted from selling its most advanced EUV tool line in China since 2019 and has never sold an EUV tool there.
Dutch tech firm ASML says profits, sales jump in 2023
Dutch tech giant ASML, which supplies chipmaking machines to the semiconductor industry, reported Wednesday a rise in annual net profit despite a high-tech trade spat between China and the West. ASML announced earlier this month that it had been blocked from exporting "a small number" of its advanced machines to China, amid reports of US pressure on the Dutch government.
Chinese firms look to Malaysia for assembly of high-end chips
The companies are asking Malaysian chip packaging firms to assemble a type of chip known as graphics processing units (GPUs). Further, the requests only encompass assembly - which does not contravene any US restrictions - and not fabrication of the chip wafers.
More semiconductors, less construction: China's new economic plan
There are risks to the approach. China has a chronic oversupply of factories, well more than it needs for its domestic market. A greater emphasis on manufacturing will probably lead to more exports, an increase that could antagonize China's trading partners. China's extra lending also poses a challenge for the West, which is trying to foster extra investment in some of the same industries through legislation like the Biden administration's Inflation Reduction Act.
Big chipmakers push back on Biden's limits on sale of semiconductors to China
Since July, Nvidia, Intel and Qualcomm, three of the world's largest chipmakers, have pressed their case that cracking down on China would have unintended consequences.
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