China is strategically reaching out to CEO’s of major companies such as Apple, chipmakers, and pharmaceutical giants in efforts to strengthen partnerships amidst mounting geopolitical tensions.
The United States government has announced its plans to provide significant financial support to chipmakers, including industry giants Intel and TSMC. This move aims to encourage the establishment of semiconductor manufacturing facilities within the country, striving to address the global chip shortage that has negatively impacted various sectors.
**Tech giant Intel saw a decline in its stock value** on Wednesday after the company reported disappointing outlook figures for the coming months. The chipmaker’s shares closed down 5% at $50.39, following its announcement of a lower-than-expected revenue forecast for the next fiscal quarter.
The S&P 500 index came close to hitting a new record high on Wednesday, propelled by growing optimism in the artificial intelligence (AI) sector, which boosted shares of chipmakers. The impressive performance reflects the market’s firm belief in the potential of AI technology and its significant impact on various industries.
The United States government has announced its decision to intensify its efforts to gather intelligence on Chinese chipmakers. This move comes as President Joe Biden considers imposing tariffs on Chinese technology companies, particularly those involved in the semiconductor industry.
