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Raimondo said U.S. firms had told her that China had become «uninvestible.» Asked to respond to the comments Raimondo made in China, embassy spokesperson Liu Pengyu said that most of the 70,000 U.S.

Wall Street ended higher on Monday, with gains in 3M and Goldman Sachs ahead of key inflation and jobs data this week that will offer more clues on the Federal Reserve's interest rate path. All three major stock indexes rose as investors digested last Friday's comments from Fed Chair Jerome Powell that the U.S. central bank may need to raise interest rates further to ensure inflation is contained. Focus now shifts to a report on the personal consumption expenditures price index, the Fed's preferred inflation gauge, to be released on Thursday, and non-farm payrolls data due on Friday. «The fact that Powell didn't come out and say anything particularly hawkish or particularly unnerving to markets — that has proven to make this a bit of a risk-on day, even if he wasn't outright dovish either,» said Ross Mayfield, Investment Strategy Analyst at Baird. Nvidia rose 1.78% and was the most traded stock in the S&P 500, with $31 billion worth of the chipmaker's shares exchanged. Other megacaps also gained, with Apple and Alphabet both adding 0.9%. 3M jumped 5.2% after a report that the conglomerate has tentatively agreed to pay more than $5.5 billion to resolve over 300,000 lawsuits claiming it sold the U.S.

semiconductors, a critical component in modern technology. One of the pivotal subjects discussed was the United States' firm stance against China's de facto embargo on purchasing Micron Technology memory chips.

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By David Shepardson

By David Shepardson

World of Statistics posted a list of companies that have Indian-origin people at the topmost position which left Tesla Chief Executive Officer (CEO) Elon Musk impressed. On its social media account, X (formerly known as Twitter), the World of Statistics listed 21 companies that have Indian-origin CEOs. This list includes Alphabet: Sundar Pichai, World Bank Group: Ajay Banga, Micron Technology: Sanjay Mehrotra, Adobe: Shantanu Narayen and many more. Recating on the post, Musk on his micro-blogging account said, «Impressive». Recently, Indian-origin Vaibhav Taneja became the new Tesla Chief Financial Officer after Zachary Kirkhorn stepped down from his position. Taking to his LinkedIn account, Kirkhorn informed that after being part of the company for 13 years, he has left the position.

Elon Musk is impressed at the way Indian-origin people have taken over as CEOs of most of the top tech companies, as well as some of the non-tech organisations, and the list is only growing. By holding top positions, the Indian-origin people are earning millions of dollars which puts them among the highest paid CEOs in the US. When the World of Statistics posted on X (formerly Twitter) the list of Indian-origin people at top companies, Musk reacted late on Saturday: «Impressive». His followers reacted, saying «Indians are some of the hardest working people». India is even the «CEO of Moon's South Pole,» a Musk follower chuckled, after the country successfully landed its Chandrayaan-3 Moon mission. Currently, Sanjay Mehrotra is the CEO of Micron Technology; Shantanu Narayen is the CEO of Adobe; Satya Nadella is Chairman and CEO of Microsoft; Sunder Pichai is the CEO of Alphabet and Google; Jay Chaudhry is the CEO of Zscaler which is a cloud security company; Arvind Krishna is the CEO of IBM; Neal Mohan is the CEO of YouTube; and George Kurian is the CEO of NetApp, among the top tech giants. Leena Nair broke all barriers by becoming the first ever Indian-origin global CEO of French luxury fashion house, Chanel.

Catch Independence Day 2023 LIVE Updates here "NVIDIA remains our top pick, with a backdrop of the massive shift in spending towards AI, and a fairly exceptional supply-demand imbalance that should persist for the next several quarters," Morgan Stanley analysts said in a note on Monday, Reuters reported. The rally in Nvidia shares also boosted other megacap growth stocks and lifted the information technology index 1.85% higher.

Hindustan Times. He also highlighted that Taiwan plays a crucial role in the manufacturing of semiconductors, and foresaw the devastating effects a war in the Taiwan Straits would have on the world economy, the HT report said, adding that the semiconductor supply chain is controlled by a few dominant companies. In July this year, Indian and Japanese officials held discussions in New Delhi, exploring potential collaboration in crucial areas such as semiconductors and establishing robust supply chains.

Parliament was informed on Wednesday. Minister of State for Electronics and IT Rajeev Chandrasekhar in a written reply to the Lok Sabha said that semiconductors worth Rs 1,29,703 crore were imported in 2022-23.

technology companies under an executive order the Biden administration will release Wednesday, escalating Washington’s efforts to prevent Beijing from developing cutting-edge technology for its military. The executive order is expected to cover direct investments in three technology sectors: semiconductors, quantum computing and artificial intelligence. It would prohibit investments in some forms of those technologies, while requiring Americans doing business in China to inform the U.S.

suggested a report in the South China Morning Post. According to the report, China was recently seen as catching up quickly with global suppliers in the field of advanced 3D NAND flash and DRAM memory chips, but not anymore.

GlobalFoundries is scouting for local partners to set up a chip fabrication unit, sources told ET, as India seeks to deploy a comprehensive semiconductor manufacturing policy aimed at establishing its leadership credentials in the future. GlobalFoundries (GF) was earlier in talks with a few companies from the country. Those plans, however, did not materialize owing to the latter’s lack of credible expertise and experience in manufacturing electronics products, a source said.

GANDHINAGAR : The Gujarat government is pitching the state as the sole destination for semiconductor manufacturing and allied investments in India, with officials having discussed with over 100 companies across the gamut of manufacturers and suppliers. “At least half-a-dozen players are in advanced discussions, including wafer fabs, display fabs, OSAT (outsourced semiconductor assembly and test) players and suppliers," a senior state government official said, asking not to be named.

«I am willing to tell you with reasonable confidence that before October or November this year, fabs will be approved. This will be fab manufacturing, the actual wafer fab,» Chandrasekhar told TOI. Global companies recently visited Gujarat for ‘Semicon India 2023’ to expand semiconductor production in India. Companies will invest because of a strong demand curve for the precious commodity and as the country emerges as a trusted partner in the electronics ecosystem, said Chandrasekhar to TOI. «Electronics in India is now reaching a critical mass, and the target that we have set out for is $300 billion by 2026. We are on track to achieve this… This would result in a massive need for semiconductors, which we estimate to touch $110 billion by 2029,» said the minister.

Micron Technology, Lam Research and Applied Materials deals with New Delhi extended to a new initiative and additional domains and can be expected to grow steadily, External Affairs Minister said at the SemiconIndia Conference on Sunday.Jaishankar said that during Prime Minister Narendra Modi's visit to the US, specific commitments were made with regard to Micron Technology, Lam Research and Applied Materials, and they have been the subject of deliberations as well. «During Prime Minister Modi's State visit to the United States in June 2023, semiconductors were also a focus of the talks with President Biden and his team. As you would be aware, the two leaders chaired a technology round-table with the brand names of the industry.

India's semiconductor mission is not just about meeting domestic requirements but also aimed at contributing to global demand for trusted manufacturing, External Affairs Minister S Jaishankar said on Sunday. In an address at a conference, he told top executives of leading global semiconductor firms that their decisions and relationships have implications far beyond immediate business and can contribute to re-engineering the global economy.

ANI, “This collaboration today (between India and the US) extends to new initiatives in additional domains and can be expected to grow steadily in the times to come. We see that, for example, in space where India signing the Artemis Accords and promoting stronger NASA-ISRO collaboration is a sign of the times to come..." Earlier, PM Modi on Friday said that India is “rolling out the red carpet" for the semiconductor industry, as he invited global semiconductor majors to invest in India.

India emerge as a trusted, resilient partner in the electronics and semiconductor space, Union Minister Rajeev Chandrasekhar said here on Saturday, and asserted the world wants to partner with India for the country to grow its footprints in the semiconductor ecosystem. Talking to PTI on the sidelines of the Semicon India 2023 event organised at Mahatma Mandir here, he said Prime Minister Narendra Modi's vision for the sector is to create more and more opportunities for young Indians studying in colleges.

Semiconductor packaging is poised to be an inflection point in India’s chip-making and fabrication push and the country has the right talent to become a manufacturing centre, Prabu Raja, president of semiconductor products group (SPG) at Applied Materials, told ET in an interview. The central government’s approach to starting with packaging and testing for semiconductors to build a complete ecosystem for chips is the right approach, Raja said on the sidelines of the Semicon 2023 conference in Gandhinagar, Gujarat. Applied Materials, one of the leading global manufacturers of precision instruments for semiconductor fabrication, will invest $400 million to set up a collaborative engineering centre in Bengaluru, the company announced last month.Also read | US chipmaker AMD to invest $400 million in India by 2028 This would be the company’s second office in India, apart from its research and development centre in the same city.