Texas Instruments Stock News

Texas Instruments Inc. said Friday it has signed a preliminary agreement with the U.S. Department of Commerce for up to $1.6 billion in funding through the CHIPS and Science Act to support three 300mm semiconductor-wafer-manufacturing plants currently being built in Texas and Utah.

Texas Instruments has signed a preliminary agreement with the U.S. Department of Commerce to receive up to $1.6 billion in proposed direct funding under the CHIPS and Science Act, it said on Friday.

NEWS HIGHLIGHTS: The U.S. Department of Commerce has proposed up to $1.6 billion for TI in direct funding through the CHIPS and Science Act to support three 300mm semiconductor wafer fabs under construction in Texas and Utah. TI expects to receive an estimated $6 billion to $8 billion from the U.S. Department of Treasury's Investment Tax Credit for qualified U.S. manufacturing investments.

The recent carry trade scare sent Japanese stocks into a tailspin, and the contagion spread to other markets faster than a juicy rumor in a high school cafeteria. Even stocks that were already in correction mode got hammered even harder.

Chip stocks have soared in 2024 thanks to optimism surrounding artificial intelligence (AI).

Semiconductor stocks represent one of the most powerful investment categories as the central asset undergirds myriad digital innovations. Without the most advanced computer chips, none of the innovations that we take for granted – especially artificial intelligence – would be possible.

News highlights: New DLP® controller is 90% smaller than the previous generation, enabling compact design for consumer applications, such as lifestyle projectors, gaming projectors and augmented reality glasses. Designers can replicate the experience of immersive, high-end gaming monitors in a fraction of the size with submillisecond display latency and frame rates up to 240Hz.

That tech stocks have been the driving force behind the two-year bull market is no surprise. It was the Magnificent Seven stocks that represented most of the S&P 500's 24% gains last year.