U.S. President Donald Trump called for the cancellation of the $52B CHIPS Act, one of former President Joe Biden’s signature tech policies, in his first address to Congress of his second term, Nikkei Asia’s Ken Moriyasu and Yifan Yu report. Trump cited recent examples of companies like SoftBank (SFTBY) and Taiwan Semiconductor Manufacturing Co. (TSM) announcing new investment in the U.S., arguing that companies will come without billions of dollars in subsidies. Publicly traded companies in the space include AMD (AMD), Marvell (MRVL), Microchip (MCHP), Micron (MU), Nvidia (NVDA), Qualcomm (QCOM) and Texas Instruments (TXN).
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