Micron, TSMC rise amid report that the Trump administration will not pursue equity stakes in exchange for CHIPS Act subsidies

Micron and TSMC are rallying following a report from The Wall Street Journal that the Trump administration will not seek equity in these companies in exchange for subsidies received as part of the Biden-era CHIPS Act, which aimed to boost US semiconductor production capacity. The report cites a government official.

The WSJ previously reported that TSMC was considering returning those subsidies if the US government pushed for an equity stake.

However, based on recent comments from Commerce Secretary Howard Lutnick, the US government is still pursuing a 10% position in beleaguered chipmaker Intel.

Nvidia CEO Jensen Huang, for his part, told reporters in Taiwan that “anyone who wants to buy TSMC stock is a very smart person,” calling the chip giant “one of the greatest companies in the history of humanity.”

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SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

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