EU Plans to Invest in Semiconductor Industry
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).
