Commerce Sec. Gina Raimondo on $6.6B TSMC grant: Leading-edge chips will be made in America at scale
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- Опубликовано: 7 апр 2024
- U.S. Commerce Secretary Gina Raimondo joins 'Squawk on the Street' to discuss the Biden administration's $6.6 billion funding towards Taiwan Semiconductor Manufacturing Co. (TSMC) under the U.S. CHIPS and Science Act, the importance of 2nm chips, guardrails around AI, and more.
Compare to how much we gave to Ukraine and Israel in last two years this is nothing
And it actually benefits the US
End of day it is NOT about the value of the chips it is about the restoring of the supply chains to secure the infrastructure of our economy. Our country needs a massive reinvestment in our own educational development to power our economy. Ai Asside we need the technical, chemical, manufacturing and engineering experience to provide the GDP to pay our high levels of debt.
The kids in the US do not want to learn math, science, and engineering. Just let you know. The stuff they learn in 1st year in college in these fields are taught in High school in China.
with US aging population, young and old are drunk, high, lazy, suicidal, and want $50/hr min. wage....and teachers that can't even do a 3rd grade Chinese math problem. Plus, soon the deficit will go from $34 T to $40 Trillion w/in 1 yr....currently every taxpayer owes $220,000 towards the deficit. Cuts will be even further in education...to pay back the debt! AI and robots will take more jobs....YOUR A GENIUS! 🤣🤣
@@seymorefact4333 only a moron calla someone else a genius as a compliment when trying to use sarcasm when the subject is not humor sooo thank you? You are the person you describe and fully drink the everyone ELSE is a moron Kool-aid that morons spout to each other.
7:10 they basically confirmed that Intel has a blank check
I doubt there are enough qualified American workers to manufacture chips on the same scale.
Intel is doing 5 nodes in 2 years. So yes they were going to be the leader in 2 years time. Biden must not like US companies. No kickbacks.
Scale: Use brain software to design chips, use brains and bodies to produce chips
Not all the workers will be American born.
There is too much noise from background!
Good luck with the talent development program with TSMC in the US 😅
I mean the US has the resources
ppl here are too political 😂
30 years late but go Murruca!
Blame the Republicans
How has it been too late? Tech in the US has won big time over the last 30 years benefiting from cheap manufacturing.
No no this is not subsidy
because is not China.
Nearly 80% of people in the United States cannot accept the production of chips in factories (workers must work shifts 24 hours a day). Nearly 90% of Taiwan's population can accept the production of chip factories. The ability to produce wafers is very important. Taiwan chip factory. Working hours per person: 8 to 12 hours (smartphones cannot be brought into the factory)
My ASML shares are happy.
she going all in, better call cramer first
6 billion extra in the bank this a win for shareholders
Just saw the video of Kramer as a hedge fund manager, laughing at retail investors while he manipulated the market, going up or down. Now we know how all of you take our money! He said it was fun!
From the Tax payers not Biden
It's almost 7 billion dollars. No one was expecting this money to come from Biden's social security.
Will lead to OverCapacity😂😂😂😂😂
That's like saying we don't want too much clean water.
Did she just call Intel Americas’s champion ? What is she smoking ?
that is silver going up
amazing
台積電根本不應該去美國，損失最大的是投資人。
Nice
TSMC is a fantastic company with great leadership. Customer focused. Not sure where the talent to support these facilities will come from.
Great leadership like the ex Solyndra CEO that accepted millions of taxpayer dollars and never paid taxpayers back, then company went bankrupt? Green energy is the biggest waste of money. Same thing happened undef Obama that will happen to this. No accountability too.
From Taiwan. You think they are going to build a factory and just walk away??? They aren't general contractors...some of their workers are moving to the US to run the factories.
@@RajDeelish Indeed and stretch the shallow talent pool. Who wants to live in the desert of Arizona ? Time will tell for sure but that area is a bit barren and sparse.
$TSM Taiwan semi has 50-6”% profit margins. Unheard of in the industry and no one comes close. Intel is losing money
Nvidia's gross margin is much higher than TSMC.
I used to design computer chips in the US for a living then people from India took over all the engineering contractor jobs and refused to let me into my job ever again…. So I guess it’s 6 billion dollars in jobs for India not Americans who actually live here with the required degreees
Get over it, you'll be a nicer man, and happier.
And then they outsourced several times and took most of the subsidies only leaving the rnd team with 10% of the budget. One day India will take over us systems by hacking, not china
Great news! Factories are built in the USA.
@@87vortex87 never, our oil industry (tx instruments) and our research labs (bell labs) created this stuff. they want to steal it? enjoy the immutable backdoors.
It's not that simple.
Private companies prefer to hire H1-B candidates because they can dangle the residency over their heads to force them to work harder than Americans. If you are always 60 days away from being deported, you will do whatever your managers say.
I was just talking to some friends of friends at Meta and Google, they were all working past 10pm because they worried about their working visa not being renewed. Indians are just as much the victims in the tech industry. It's not like they would strike.
I seriously doubt that $6 billion is going to create more jobs for Americans.The rich will just swallow that up as their profit, and keep hiring foreign workers that they can exploit.
If you know anyone in HR, you know they would keep advertising the job posts and say they can't find Americans with the qualifications. Since tech is a key industry for the US, immigration will approve more H1-B to satisfy their needs.
This news comes right now because we will not see the effect before the election.
Not surprised coming from a traitor
There has been a chip glut for more than a year. Most chip companies are losing money on every chip they make.
I like how the media is making it sound like there is still a chip shortage. It really helps the industry stock prices.
This isn't about trying to solve a chip shortage. It's a national security issue to make sure there is never a shortage again especially with the risk of a Taiwan invasion looming and the fact that you need chips in weapons.
Taiwán contributed chips to US but what about other two closest friends 🇮🇱 🇺🇦 ? They bring wars to the trouble
Raimondo literally is the most hated women in China right now .
I don't need AI in my life...what's the hype
shouldn't intel get something too?
They have already received 8.5 billion.
Is the that free money that their printing in washington and sending to Ukraine??? Well our wise leaders in Washington dont care about inflation or national debt is this security hes talking about ? Who is gonna pay it the money back??
Biden actually getting the things Trump tweeted about done
Both Biden and Obama should have put the ban on EUV sales to China during their administration but they failed to do so despite China being the number 1 source of foreign cyberwarfare. At least the Biden cabinet was intelligent enough to continue the Trump restrictions but it's probably too late as China has moved onto sub 7nm semis - it's only a matter of time. Whoever is in office in 2025 needs to ensure their cabinet is maintaining continuity.
Yeah giving money to a Taiwan company to compete with Intel on US soil. Sickening.
@@jamescole3152 Intel uses TSMC's fab because they fell behind chasing 10nm for 1/2 a decade. Pat acknowledges the misstep. How about we spend the money building sports arenas - yes that will definitely help us.
@@jamescole3152 First of all, Intel is also getting billions. Second of all, Intel can't do it alone, especially since they have been inept the last few decades. Thirdly, the people working in these chip factories will pay taxes.
What's next, billions of dollars to a Chinese car company to compete in the US market?
If you don't like China, you should be happy since this is an anti- China plan!
Our country doesn't need car companies from China. Our company needs chips, especially is we are cut off from it if Taiwan is invaded.
Really depending on China to support America. Taiwan is China.
You must fail geography and history courses in school
@@tommy85704 The United Nations General Assembly Resolution 2758, adopted on October 25, 1971, recognized the People's Republic of China (PRC) as "the only legitimate representative of China to the United Nations" and expelled "the representatives of Chiang Kai-shek" (the Republic of China, ROC, based in Taiwan) from the UN, including all its related agencies and the UN Security Council. This resolution effectively transferred China's seat in the UN, including its permanent seat on the Security Council, from the ROC to the PRC.
The United States formally recognized the People’s Republic of China (PRC) and acknowledged the “One China” policy with the establishment of diplomatic relations on January 1, 1979. This acknowledgment came through the Joint Communiqué on the Establishment of Diplomatic Relations between the United States of America and the People’s Republic of China, where the U.S. recognized the Government of the People’s Republic of China as the sole legal government of China. It is important to note that the U.S. acknowledges the “One China” principle under which the PRC claims Taiwan as part of its territory.
Hahahaha
The United Nations General Assembly Resolution 2758, adopted on October 25, 1971, recognized the People's Republic of China (PRC) as "the only legitimate representative of China to the United Nations" and expelled "the representatives of Chiang Kai-shek" (the Republic of China, ROC, based in Taiwan) from the UN, including all its related agencies and the UN Security Council. This resolution effectively transferred China's seat in the UN, including its permanent seat on the Security Council, from the ROC to the PRC.
The United States formally recognized the People’s Republic of China (PRC) and acknowledged the “One China” policy with the establishment of diplomatic relations on January 1, 1979. This acknowledgment came through the Joint Communiqué on the Establishment of Diplomatic Relations between the United States of America and the People’s Republic of China, where the U.S. recognized the Government of the People’s Republic of China as the sole legal government of China. It is important to note that the U.S. acknowledges the “One China” principle under which the PRC claims Taiwan as part of its territory.
The United Nations General Assembly Resolution 2758, adopted on October 25, 1971, recognized the People's Republic of China (PRC) as "the only legitimate representative of China to the United Nations" and expelled "the representatives of Chiang Kai-shek" (the Republic of China, ROC, based in Taiwan) from the UN, including all its related agencies and the UN Security Council. This resolution effectively transferred China's seat in the UN, including its permanent seat on the Security Council, from the ROC to the PRC.
The United States formally recognized the People’s Republic of China (PRC) and acknowledged the “One China” policy with the establishment of diplomatic relations on January 1, 1979. This acknowledgment came through the Joint Communiqué on the Establishment of Diplomatic Relations between the United States of America and the People’s Republic of China, where the U.S. recognized the Government of the People’s Republic of China as the sole legal government of China. It is important to note that the U.S. acknowledges the “One China” principle under which the PRC claims Taiwan as part of its territory.