Global Semiconductor Stocks Fall After Intel Earnings Miss and Nvidia Antitrust Investigation

Global semiconductor stocks fell after Intel reported a big miss on earnings and announced layoffs. Nvidia is under DOJ antitrust investigation. Chip stocks dropped in Asia and Europe due to a global market sell-off.

Artificial Intelligence and Technology

U.S. intelligence agencies will use a secretive AI platform from Microsoft, Sheryl Crow calls on Congress to act on AI in music industry, U.S. blocks Intel and Qualcomm exports to China, Apple releases new iPad Pro with AI chip.

Intel receiving federal grants and loans under the CHIPS Act

Intel is set to receive up to $8.5 billion in federal grants and potentially $11 billion in loans under the CHIPS Act to support semiconductor manufacturing and research facilities in multiple U.S. states. The company aims to become a leading-edge manufacturer by 2026 and create thousands of jobs through facility construction and chip manufacturing.