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Luke Kawa2/14/25

TSMC reportedly considering building advanced packaging plant in US amid pressure from Trump

President Trump wants to bring advanced semiconductor production from Taiwan back to America.

Now there may be some progress in that desire, thanks to the only $1 trillion Taiwanese publicly traded company.

According to the Taipei-based Economic Daily News (sans sources), TSMC is considering building an advanced packaging plant in the United States. These discussions come as the company “is facing pressure from the new White House administration and has planned to adjust its factory plans in the United States.”

About that pressure: the semiconductor industry is wrestling with the notion that it might not be getting all the funds it expected from the CHIPS Act, which was passed by the previous administration, as some of the conditions for financing may be in conflict with executive orders signed by Trump.

The president has bemoaned America’s loss of leadership in producing the most advanced semiconductors.

“They left us, and they went to Taiwan,” Trump said Monday. “We want them to come back, and we don’t want to give them billions of dollars.”

(If you’re interested in a deep dive on the history of semiconductor production and how they’ve come to be made where they’re made, I highly recommend this paper.)

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Delta, American, and rival airlines boost Q1 sales outlooks citing strong demand; costs rise, too

Airlines are soaring as they say revenue is coming in higher than expected in the first quarter. That’s likely in part because they’re raising ticket prices to account for higher fuel costs.

Delta jets

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Claire Yubin Oh22m

Nebius drops after announcing that it aims to raise $3.75 billion in a convertible loan offering

Nebius dropped as much as 7.5% in premarket trading on Tuesday, after the AI infrastructure company announced its intentions to sell $3.75 billion worth of convertible senior notes with maturities in 2031 and 2033.

The company will offer the debt in two tranches, the first batch worth $2 billion and due March 15, 2031, followed by $1.75 billion worth of notes due March 15, 2033. There’s also the potential for an additional $562.5 million of these notes to be issued via an over-allotment option.

The interest and initial conversion rate will be determined at the pricing of the offering, but regardless of the premium, the $3.75 billion offering would be pretty sizable for a company that closed yesterday's trading session with a ~$33 billion market cap, and the market is quickly pricing in a decent chunk of equity dilution.

The offering is conspicuous in its timing, with Nebius soaring 15% yesterday on the back of a major infrastructure deal with Meta — worth up to $27 billion over five years.

The funds will likely be put to good use to deliver on some of these major projects. Per the company’s press release, the capital raised will be used to:

“finance the continuing growth of its business, including expenditures related to the construction and build-out of its data centers, investments to develop its full-stack AI cloud, the expansion of its data center footprint and the procurement of key components (including GPUs), and for general corporate purposes.”

Investors just raised the most cash since the March 2020 pandemic panic

It’s just a caution, though.

Referee Marco Guida shows a yellow card during the UEFA EURO

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Claire Yubin Oh2h

Amazon introduces one- and three-hour delivery options in hundreds of new towns and cities

Harder, better, stronger, faster... Amazon, not content with completely altering our expectations for how quickly our goods should arrive, is rolling out one- and three-hour deliveries in new cities in the US as it continues to double down on ultrafast delivery.

Per the company’s press release, one-hour delivery is now available in “hundreds of cities and towns” in the US, and three-hour options are offered in “over 2,000 cities and towns,” both available seven days a week though their regular same-day shopping experience. More than 90,000 products, which are typically available in local supercenters, are currently eligible for delivery under the two plans, and Amazon expects to bring the new scheme to more areas in the coming months.

Delivery fees for Prime members are set at $9.99 for one-hour delivery and $4.99 for three hours, though this price range more than doubles to $19.99 and $14.99, respectively, for customers without a Prime membership.

Regarding the new delivery options, Udit Madan, Amazon’s senior vice president of worldwide operations, said: “we’re excited to say that two decades after Prime launched, we’re still innovating to make delivery even faster, while maintaining the same everyday low prices and vast selection Amazon is known for.”

Indeed, since it launched same-day delivery in 2015, Amazon has been experimenting with a number of ultrafast delivery options, including recently piloting a 30-minute delivery service in selected US cities, built on its network of fulfillment centers and on-demand workers. The e-commerce giant’s latest push also comes as competitors like Walmart started to boost its delivery capacity, touting that it can deliver to 95% of American households in less than three hours.

Tasha Matsumoto

Stocks rebound as the price of oil retreats

Every sector traded higher, with tech leading gains on increased optimism that tankers will be able to pass through the Strait of Hormuz.

Aberdeen Angus Bull

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