US-China relations are at a turning point after decades of pumping China’s economy with tech to become a cheap manufacturing hub. The USG’s stance toward China has become more confrontational since Trump’s presidency, continuing into the Biden administration.
Following bureaucratic vetting, as of April 2024, the CHIPS Program Office announced up to $17.6 billion in loans to five semiconductor companies and $16.8 billion in grant rewards. For investors seeking CHIPS exposure, these semiconductor stocks will drive the US tech hardening against China.) has a significant presence in Arizona. In December 2022, the company unveiled plans to invest in the second semiconductor foundry in Phoenix, worth $40 billion. This Monday, the U.S.
Since the December coverage of GlobalFoundries, GFS stock was priced at $52 vs current $51.59. Given its 52-week low price of $48.12, the stock shows stability, which is not necessarily what semiconductor investors seek. Nonetheless, Intel has been the largest recipient of CHIPS grants across its four sites in Hillsboro, Chandler, Rio Rancho and New Albany, totaling to $8.5 billion and $11 billion in loans. Despite solid earnings in Q4 2023 and having beaten revenue forecast at $15.40 billion vs expected $15.15 billion, Intel’s forward guidance displeased investors.
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