Texas Instruments plans to invest over $60 billion in US to make foundational chips

Texas Instruments said on Wednesday it would invest more than $60 billion to build and expand seven
semiconductor factories
in Texas and Utah, as President
Donald Trump
presses companies to boost US investments.
The investment in foundational or legacy semiconductors will create more than 60,000 jobs in the United States, the company said.
The chipmaker joins several other US tech companies that have announced hundreds of billions of dollars in domestic investments against the backdrop of the Trump administration's efforts to produce more semiconductors on American soil.
by Taboola
by Taboola
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Chip designer Nvidia said in April it is planning to build AI servers worth as much as $500 billion in the US over the next four years with help from partners such as Taiwan's TSMC.
The Texas Instruments' announcement does not specify a timeline for the investment.
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Time of India

16 minutes ago

• Time of India

Investors brace for oil price spike, rush to havens after US bombs Iran nuclear sites

A US attack on Iranian nuclear sites could push oil prices even higher and trigger a knee-jerk rush to safety, investors said, as they assessed how the latest escalation of tensions would ripple through the global economy. The reaction in Middle East stock markets , which trade on Sunday, suggested investors were assuming a benign outcome, even as Iran intensified its missile attacks on Israel in response to the sudden, deep US involvement in the conflict. US President Donald Trump called the attack "a spectacular military success" in a televised address to the nation and said Iran's "key nuclear enrichment facilities have been completely and totally obliterated". He said the US military could go after other targets in Iran if the country did not agree to peace. Iran said it reserves all options to defend itself, and warned of "everlasting consequences". Speaking in Istanbul, Iran's Foreign Minister Abbas Araqchi said Tehran was weighing its options for retaliation and would consider diplomacy only after carrying out its response. Investors said they expected US involvement would cause a stock market selloff and a possible bid for the dollar and other safe-haven assets when major markets reopen, but also said much uncertainty remained. "I think the markets are going to be initially alarmed, and I think oil will open higher," said Mark Spindel, chief investment officer at Potomac River Capital. "We don't have any damage assessment and that will take some time. Even though (Trump) has described this as 'done', we're engaged," Spindel said. "I think the uncertainty is going to blanket the markets, as now Americans everywhere are going to be exposed. It's going to raise uncertainty and volatility, particularly in oil," he added. One indicator of how markets will react in the coming week was the price of ether, the second-largest cryptocurrency and a gauge of retail investor sentiment. Ether was down 8.5 per cent on Sunday, taking losses since the first Israeli strikes on Iran on June 13 to 13 per cent. Most Gulf stock markets, however, seemed unconcerned by the early morning attacks, with the main indexes in Qatar, Saudi Arabia and Kuwait up slightly or flat. Israel's Tel Aviv main index was at an all-time high. Oil prices, inflation A key concern for markets centers around the potential impact of Middle East developments on oil prices and thus on inflation. Rising inflation could dampen consumer confidence and lessen the chance of near-term interest rate cuts. Saul Kavonic, a senior energy analyst at equity research firm MST Marquee in Sydney, said Iran could respond by targeting American interests in the Middle East, including Gulf oil infrastructure in places such as Iraq or harassing ship passages through the Strait of Hormuz. The Strait of Hormuz lies between Oman and Iran and is the primary export route for oil producers such as Saudi Arabia, the United Arab Emirates, Iraq and Kuwait. "Much depends on how Iran responds in the coming hours and days, but this could set us on a path towards $100 oil if Iran respond as they have previously threatened to," Kavonic said. While global benchmark Brent crude futures have risen as much as 18 per cent since June 10, hitting a near five-month high of $79.04 on Thursday, the S&P 500 has been little changed, following an initial drop when Israel launched its attacks on Iran on June 13. Jamie Cox, managing partner at Harris Financial Group, said oil prices would likely spike before leveling off in a few days as the attacks could lead Iran to seek a peace deal with Israel and the United States. "With this demonstration of force and total annihilation of its nuclear capabilities, they've lost all of their leverage and will likely hit the escape button to a peace deal," Cox said. Economists warn that a dramatic rise in oil prices could damage a global economy already strained by Trump's tariffs. Still, any pullback in equities might be fleeting, history suggests. During past eruptions of Middle East tensions, including the 2003 Iraq invasion and the 2019 attacks on Saudi oil facilities, stocks initially languished but soon recovered to trade higher in the months ahead. On average, the S&P 500 slipped 0.3 per cent in the three weeks following the start of conflict, but was 2.3 per cent higher on average two months following the conflict, according to data from Wedbush Securities and CapIQ Pro. Dollar woes An escalation in the conflict could have mixed implications for the US dollar, which has tumbled this year amid worries over diminished US exceptionalism. In the event of US direct engagement in the Iran-Israel war, the dollar could initially benefit from a safety bid, analysts said. "Do we see a flight to safety? That would signal yields going lower and the dollar getting stronger," said Steve Sosnick, chief market strategist at IBKR in Greenwich, Connecticut. "It's hard to imagine stocks not reacting negatively and the question is how much." Jack McIntyre, portfolio manager for global fixed income at Brandywine Global Investment Management in Philadelphia, said it was uncertain whether US Treasuries would rally after the US attack, largely due to the market's hypersensitivity to inflation. "This could lead to regime change (which) ultimately could have a much bigger impact on the global economy if Iran shifts towards a more friendly, open economic regime," said McIntyre.

Business Standard

23 minutes ago

• Business Standard

Israel's TA-125 at new peak even as tensions flare with US strikes on Iran

Rising tensions in West Asia have not deterred the Israeli stock market, with the benchmark index surging to record highs despite fresh concerns following US strikes on Iran. Israel's TA-125 rose 2.2 per cent on Sunday to a fresh high of 2,931.9, just after the US struck three nuclear sites in Iran. Since the beginning of the latest attacks on June 13, the index has risen nearly 7.5 per cent, while the MSCI Asia ex Japan has fallen by 0.63 per cent. In the year so far, the TA-125 index has risen 18.9 per cent, while the MSCI Asia ex Japan and MSCI World indices are up 11.2 per cent and 4.83 per cent, respectively. Over the weekend, the US struck three nuclear sites in Iran with bunker-busting bombs, ending speculation of its involvement in the ongoing conflict in the region. US President Donald Trump declared the three facilities 'totally obliterated,' and warned of greater attacks unless Iran makes peace with Israel. Following the strikes, Iran vowed to retaliate, warning the US of "dire consequences" and has reportedly approved the closure of the Strait of Hormuz. Asked about the Strait, Iran's Foreign Minister Seyed Abbas Aragchi said that 'a variety of options" are available to Iran, adding that the country would defend itself by all means necessary. Why is Israeli stock market surging? The market is rising as investors and global markets bet on a contained conflict and limited escalation following the US strikes on Iran, according to analysts. There was initial concern that oil prices would spike and Asian markets would open sharply lower. However, that didn't happen, according to G Chokkalingam, founder and chief investment officer at Equinomics Research. He believes this indicates that both the equity and oil markets expect the situation to de-escalate, possibly leading to negotiations rather than a broader conflict. Regarding the Israeli market, its total market capitalisation is only around $429 billion, with equities accounting for $216 billion, Chokkalingam said. "This means even small domestic or foreign inflows can significantly impact the index." Additionally, confidence may stem from the US backing of Israel, which reassures investors that the economic impact will be limited, Chokkalingam said. "Unlike during the Ukraine war, when oil jumped nearly 30 per cent, the Israel-Iran conflict has caused only an 11 per cent rise in oil prices, reinforcing the belief that the war may remain localised and short-lived." Further, it is a preconceived notion that geopolitical tensions may lead to stock market corrections, analysts had noted earlier. "In fact, heightened geopolitical tensions can lead to more fiscal and monetary easing, and the market loves loose policies," according to Jitendra Gohil, chief investment strategist at Kotak Alternate Asset Managers. Back home, stock markets fell over 1 per cent in early trade, tracking cues from their Asian peers. As of 12:40 PM, the BSE Sensex index was at 81,828.57, lower by 575.47 points or 0.70 per cent, while the Nifty50 was at 24,942.95, down 169.45 points or 0.67 per cent.

Business Standard

25 minutes ago

• Business Standard

D-St jitters mount: What sparked the early sell-off in Nifty, Sensex

Indian equity market saw a selloff on Monday as sentiments soured, with tensions in West Asia esclating after the US joined the conflict by striking three nuclear sites in Iran. The BSE Sensex index plunged 931 points or 1.13 per cent in the intraday trade to hit a low of 81,476.7 during the day. The NSE Nifty50 fell 287 points, or 1.15 per cent, to 24,824.8. The indices registered their worst fall since June 13 this year. All sectors on NSE except Nifty Media were trading in the red, with Nifty IT and Auto leading the decline. Bears were in control of the market as 2,097 stocks declined on the BSE, while 1,265 counters advanced. About 179 stocks remain unchanged. The broader market, however, outperformed the frontline stocks as they only edged slightly lower. The Nifty Midcap 100 index was down 0.02 per cent, while the smallcap index was higher by 0.2 per cent, as of 11:00 AM. The risk-off sentiment reflected in Asian equities, with most benchmark indices trading lower. But the market assessment is that there are limits to what Iran can do against the US and Israel, according to VK Vijayakumar, Chief Investment Strategist, Geojit Investments "That's why the early market responses - crude prices, US futures, absence of panic in Asian markets - have been muted." Even though the possibility of the closure of Hormuz Strait is a threat, it is important to understand that this has always been only a threat, and the Strait has never been closed, he said. "The market construct continues to favour a 'buy on dips' strategy." Track LIVE Stock Market Updates Here Key reasons behind the Sensex, Nifty fall today: US joins the West Asia turmoil: Over the weekend, the US struck three nuclear sites in Iran with bunker-busting bombs, ending speculation of its involvement in the ongoing conflict in the region. US President Donald Trump declared the three facilities 'totally obliterated,' and warned of greater attacks unless Iran makes peace with Israel. Following the strikes, Iran vowed to retaliate, warning the US of "dire consequences" and has reportedly approved the closure of the Strait of Hormuz. Asked about the Strait, Iran's Foreign Minister Seyed Abbas Aragchi said that 'a variety of options" are available to Iran, adding that the country would defend itself by all means necessary. Crude oil prices jump, Rupee weakens: Oil prices rose as much as 6 per cent before paring gains as the closure of the Strait of Hormuz threatens the global oil supply chain. Brent crude price was up 1.19 per cent at $77.93 per barrel. The Strait of Hormuz connects the Persian Gulf to the Gulf of Oman and the Arabian Sea. At its narrowest, it is 33 km wide, with only 3 km allocated to each shipping direction In 2024, about 20 per cent of global petroleum liquids consumption flowed through the Strait of Hormuz, with India among the top destinations for crude oil moving through the route in Asia, according to data from the US Energy Information Administration. Therefore, any potential disruption of the oil trade and crude oil spike could hurt the current account deficit, hurting the currency. The Rupee depreciated 18 paise to open at 86.77 against the dollar. The currency has fallen 1.34 per cent so far this month. OMCs take a hit: As a result of a jump in crude oil prices, Indian oil marketing companies, especially the downstream companies, continued to trade under pressure. A jump in the oil prices will lead to higher costs for refiners, with their margins taking an impact. Shares of Indian Oil Corporation and Bharat Petroleum Corp Ltd. fell as much as 1.62 per cent and 1.69 per cent, respectively, on Monday. Hindustan Petroleum Corporation Ltd. counter fell 1.8 per cent. IT stocks plunge: Information technology was among the worst-hit sectors in trade today, even after Accenture's third quarter of fiscal 2025 beat the Street's expectations. The decline in the counters came as analysts noted that demand has not changed significantly for the Indian IT pack. "We believe that the current environment is not conducive for healthy deal wins for all players," Kotak Securities said in a note.