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The White House issued sweeping restrictions on selling semiconductors and chip-making equipment to China, an attempt to curb the country’s access to critical technologies.
President Biden traveled to Poughkeepsie, N.Y., to connect a $20 billion investment by IBM to the bipartisan bill meant to spur production of critical microchips.
The company is planning a giant complex in Clay, N.Y., a sign that the government’s investments in semiconductors are steering firms’ decisions.
New York State Governor Kathy Hochul announced that the new Micron campus in Syracuse could cost up to $100 billion over the next 20 years and create up to 50,000 jobs in the state.
The automaker’s performance indicates that the global semiconductor shortage is beginning to ease.