More companies get in on CHIPs Act funds
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 23 June 2023
⏱️ 5 minutes
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Goldman adds 25 new stocks with growth potential to its ROE basket
Chip equipment makers, chemical companies, others now eligible for CHIPs Act funds
C3.ai slumps 8% as Deutsche Bank reiterates sell after investor meeting
Apple, Google, other tech CEOs to meet with Biden to discuss AI, manufacturing
Transcript
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action news and analysis. |
| 0:09.0 | Good afternoon. Today is Friday, June 23rd, and I'm your host, Kim Khan. |
| 0:14.4 | Our top story so far in today's session. |
| 0:16.9 | The U.S. Commerce Department says it's expanding the eligibility for companies to receive funds |
| 0:21.3 | from the U.S. Chips Act. It will now include those that make |
| 0:24.2 | semiconductor equipment and chemicals used for chipmaking. Secretary of Commerce |
| 0:28.9 | Geno Raimondo said that Chips and Science Act is a historic opportunity to ensure our microchip supply chain |
| 0:35.4 | resilience. |
| 0:36.9 | The eligibility, which had previously been available only for companies such as Intel and Taiwan |
| 0:41.2 | Semi, opens the fund to companies such as applied materials, land research, and others. |
| 0:47.0 | The Commerce Department said nearly 400 companies are interested in receiving funding from the Chips Act. |
| 0:52.0 | Also in tech, the CEOs of Apple, Google, |
| 0:54.9 | AMD, and several other tech companies |
| 0:57.4 | are slated to meet with President Biden |
| 0:59.3 | to discuss AI, among other things. |
| 1:02.0 | Tech execs are also slated to discuss manufacturing and |
| 1:05.2 | innovation, the White House said. In April the Biden administration laid out |
| 1:09.5 | formal requests for comment to look into potential regulation for AI products and services. |
| 1:15.2 | Now here's a look at how trading is shaping up. |
| 1:17.6 | Stocks are moving lower, with growth lagging again despite a drop in rates. |
| 1:21.8 | The S&P 500 is down more than half a percent with the |
| 1:24.1 | NASDAQ off more than 1 percent. The Dow is faring better though. The 10-year |
... |
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