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Applied Materials plans to expand its workforce in Southeast Asia by 25% in 2026, hiring approximately 1,000 workers mainly in Singapore, a key hub for chip packaging equipment. This move aims to support the region's growing importance in manufacturing and research and development operations.
Broadcom reported a 48% year-over-year increase in Q2 revenue to $22.19B, missing estimates of $22.27B. The company also forecasted Q3 semiconductor revenue from AI below expectations, causing AVGO to drop 12%+ after hours.
MediaTek has started using Intel Foundry's advanced chip packaging in addition to TSMC's, as the mobile chip designer bets on AI demand for growth. This move is a win for US chip titan Intel as it secures customers for its foundry services.
The Philadelphia Semiconductor Index, which tracks 30 largest US-listed chipmakers, has risen approximately 75% year-to-date and is poised for its largest annual gain since 1999, driven by growing demand for AI technology.
Nvidia CEO Jensen Huang announced the company will spend up to $150 billion annually on its Taiwan supply chain and increase its headcount in the region to 4,000 employees, citing Taiwan as the 'epicenter of the AI revolution'.
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