The U.S. Commerce Department has awarded Absolics Inc a $75 million grant to build a 120,000 square-foot facility in Covington, Georgia, under the CHIPS and Science Act. This investment will boost U.S. semiconductor technology by advancing glass substrate technology for semiconductor packaging. Expected to create 1,200 jobs, this initiative supports the $52.7 billion government effort to enhance semiconductor manufacturing and development.
Taiwan Semiconductor's supplier Applied Materials is expected to see a revenue increase this quarter due to rising demand for AI and consumer products.
In Q1 of 2024, institutional investors showed a shift towards tech stocks, particularly Oracle, Global Payments, and Micron. This reflects growing confidence in these emerging leaders over traditional giants like Nvidia and Apple.