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Intel CDR (CAD Hedged)
Symbol INTC
Shares Issued 450,000
Close 2023-10-05 C$ 21.47
Market Cap C$ 9,661,500
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Globe/NYT say Nvidia, rivals pan Biden's China agenda

2023-10-06 08:52 ET - In the News

See In the News (C-NVDA) Nvidia CDR (CAD Hedged)

The Globe and Mail reports in its Friday edition that American chip companies are pushing back against the Biden administration's efforts at restricting the sale of semiconductors to China. A New York Times dispatch to The Globe reports that the chip companies warn that cutting sales to China would gut their businesses and derail the administration's plan to build new semiconductor factories in the United States. Since July, Nvidia, Intel and Qualcomm, three of the world's largest chipmakers, have pressed their case that cracking down on China would have unintended consequences. They have challenged the White House's national security wisdom in meetings with officials like Secretary of State Antony Blinken and Commerce Secretary Gina Raimondo, wooed think tanks and urged leaders across Washington to reconsider additional chip controls, according to interviews with two dozen officials across the government, industry and policy organizations. The companies have warned that a U.S. pullback could accelerate China's development of an independent chip industry, paving the way to a world dominated by Chinese-created chips rather than American-designed chips. The push back has rankled some national security experts.

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