- China’s Vice President Han Zheng told Intel Corp (NASDAQ:INTC) CEO on Wednesday to take root in China to help preserve the resilience of the global industrial supply chain.
- In a meeting in Beijing, Han told Intel CEO Patrick Paul Gelsinger that multinational companies need to “overcome difficulties and challenges” to promote better global cooperation, Reuters reports.
- The pandemic fueled geopolitical tensions between the U.S. and China by vandalizing the vulnerable global supply chain triggering a semiconductor chip crisis for electronic gadgets and automobiles.
- Also Read: Taiwan Semiconductor Founder Highlights How U.S. Sanctions Pose A Double Whammy In Form Of Rising Costs, Chip Availability
- The U.S. retaliated with an embargo on China, restricting the latter’s access to cutting-edge semiconductor tech to contain its growing dominance.
- The U.S. and other countries focused on improving domestic production and supply of semiconductor tech instead. Especially the U.S. Chips Act forbade the subsidy contenders like Intel and Taiwan Semiconductor Manufacturing Company Ltd (NYSE:TSM) to stay clear of China.
- Chipmakers like Nvidia Corp (NASDAQ:NVDA) recently altered its flagship product into a legal version to export to China to cater to its clients like Alibaba Group Holding Ltd (NYSE:BABA).
- The H800 mainly reduced the chip-to-chip data transfer rate to about half the speed of the flagship H100.
- Price Action: INTC shares traded lower by 0.87% at $32.07 on the last check Wednesday.
- Photo by Body Stock and Dragon Claws via Shutterstock
Eli Lilly Launches Website To Help Patients With Home Delivery Options For Weight Loss Medicines
Eli Lilly announced a new website allowing patients to get a weight loss drug prescription through a telehealth provider, with disease management resources, home delivery of medicines.
