The 500,000-square-foot campus, set to be built in the tech hub of Bengaluru, will be the US chipmaker's largest in the world

The unprecedented oversupply of commodity chips has lingered since last year, and added to woes of an industry that was battling a Covid-induced shortage until the first half of 2022

Passed by an overwhelming majority in the senate, the bill will need the backing of the US House of Representatives and President Joe Biden before it can become law

The chip industry is keen to protect its profits in China as the Biden administration considers another round of restrictions on chip exports to the world's second-largest economy

The US treasury secretary said she also told Chinese officials they could raise concerns about US actions, and that Washington might "respond to unintended consequences" of its restrictions

The US sanctions-hit tech giant said it aims to help clients build and train their artificial intelligence (AI) models with its homegrown processors and framework

China’s economic czar He Lifeng made the comments in a meeting with Janet Yellen, which saw the US treasury secretary double down on chip sanctions, while also urging 'direct' communication

Industry players forecast the move will weigh on domestic prices even as overseas prices of the thinly traded minerals – gallium and germanium – jumped this week

Firms across the globe are scrambling to assess the impact on supply chains from restrictions China announced this week, with a focus on finding alternatives for key components

On Tuesday, the EU voiced concerns over China's planned curbs on exports of some gallium and germanium products and expressed doubts that the move was related to national security

The restriction is aimed at closing a crucial loophole in the export controls the US implemented in October that allowed Chinese AI firms to access high-end chips through the cloud

The rules, set to come into effect on September 1, will require Dutch companies that make advanced chipmaking equipment to seek a licence before they can export it