TECH - What's Going On With Nvidia Intel Micron Stock Friday? | Benzinga
Nvidia Corp (NASDAQ:NVDA), Intel Corp (NASDAQ:INTC), and Micron Technology, Inc (NASDAQ:MU), prominent U.S. chipmakers, have been summoned to testify before Congress by the House of Representatives’ China committee. The update sent the stock prices down.
This request marks a notable shift in the committee’s approach, intensifying its examination of companies with substantial ties to China. The committee, which hadn’t previously held hearings with CEOs from any industry since its formation, now focuses on these tech giants due to their significant operations and sales in China, the Financial Times reports.
A trade and sanctions expert, Emily Kilcrease, highlighted that this hearing is part of the committee’s efforts to exert political pressure on companies heavily involved in China.
This increased scrutiny comes after the CEOs of Intel, Nvidia, and Qualcomm Inc (NASDAQ:QCOM) actively lobbied against more rigid semiconductor-related ...