US Chipmakers Soar as VP Vance Pledges AI Hardware Revolution

Intel and GlobalFoundries Inc. saw significant stock increases after U.S. Vice President Vance stated that the Trump administration would ensure the most advanced artificial intelligence hardware is manufactured domestically. This announcement was made at the AI summit hosted by French President Emmanuel Macron.

Vice President Vance emphasized the importance of maintaining America's competitive edge by constructing powerful AI systems using U.S. designed and manufactured chips. This strategic focus aims to bolster domestic semiconductor production, aligning with broader governmental efforts to reinforce the country's technological infrastructure.

In response to these declarations, Intel's stock significantly surged by as much as 11% during Tuesday’s trading in New York, while GlobalFoundries' shares increased by 7.3%. These companies, among the largest semiconductor manufacturers in the U.S., have also benefited from substantial government subsidies aimed at revitalizing the national chipmaking industry.

Currently, neither Intel nor GlobalFoundries produce the state-of-the-art semiconductors required for training AI systems in data centers. This crucial task is predominantly handled by Taiwan Semiconductor Manufacturing Company (TSMC), which counts Nvidia and Advanced Micro Devices among its patrons.