The European Union’s plan to stimulate the semiconductor industry would allow its executive arm to invest in manufacturing and prioritize developing new technologies, Gian Volpicelli and Alberto Nardelli of Bloomberg reports, citing people familiar with the draft. Expected in late May, the proposed Chips Act II is an attempt to improve on its predecessor, with the draft proposals intended to empower the European Commission to invest in large, cross-border projects. Publicly traded companies in the space include AMD (AMD), Marvell (MRVL), Microchip (MCHP), Micron (MU), Nvidia (NVDA), Qualcomm (QCOM), Intel (INTC), and Texas Instruments (TXN).
Claim 55% Off TipRanks
Forget margin or options. Here's how the pros trade NVDAPublished first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NVDA:
- White House Blocks Anthropic’s Plan to Roll Out High Risk Mythos AI
- Private Markets: True Anomaly lands $650M, Polymarket pushes for U.S. return
- New Wave of Lawsuits Hits OpenAI After Canada School Massacre
- Midday Fly By: Alphabet, Meta, Amazon, Microsoft report quarterly beats
- Why Nvidia Stock Is Down Today and Why Top Investor Says ‘No Reason to Sell’