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On July 12, 2024
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Taiwan president thanks Micron CEO for his trust in Taiwan
TAIPEI, July 12 (Reuters) - Taiwan President Lai Ching-te thanked memory chipmaker Micron's (MU.O)New Tab, opens new tab Chief Executive Sanjay Mehrotra on Friday for his trust and continued investment in the island, in a rare public meeting with a senior foreign tech executive. It is very unusual for Taiwan's president to have publicised meetings with senior foreign tech executives despite the island being home to the world's largest contract chipmaker TSMC (2330.TW)New Tab, opens new tab, whose chips help to power the surge in artificial intelligence (AI) applications. Lai thanked Mehrotra for "showing trust and support for Taiwan" in video released by the president's office. "I want to thank Micron for its long-term investment in Taiwan and continuing to promote the upgrading of DRAM process technology in Taiwan," he added, referring to dynamic random access memory (DRAM) chips. Micron is one of the few providers of high-bandwidth memory (HBM) chips used in advanced AI systems. Taiwan hopes Micron will continue to expand its research and development capabilities, and the government will create a "friendly living environment" for foreign talents to meet the needs of companies, Lai said. "It's an honour to meet with you today," Mehrotra told Lai. Micron did not immediately respond to a request for comment. Lai's meeting with Mehrotra was not previously announced in the president's official schedule which is sent to reporters. Lai, who took office in May, has faced sustained pressure from China, which views democratically-governed Taiwan as its own territory and calls him a "separatist". He rejects Beijing's sovereignty claims and has repeatedly offered talks that China has rebuffed. (This story has been refiled to change company identifiers in paragraphs 1 and 2) Reporting by Ben Blanchard; editing by Barbara Lewis
[2]
Taiwan president thanks Micron CEO for his trust in Taiwan
Lai thanked Mehrotra for "showing trust and support for Taiwan" in video released by the president's office. "I want to thank Micron for its long-term investment in Taiwan and continuing to promote the upgrading of DRAM process technology in Taiwan," he added, referring to dynamic random access memory (DRAM) chips. Micron is one of the few providers of high-bandwidth memory (HBM) chips used in advanced AI systems. Taiwan hopes Micron will continue to expand its research and development capabilities, and the government will create a "friendly living environment" for foreign talents to meet the needs of companies, Lai said. "It's an honour to meet with you today," Mehrotra told Lai. Micron did not immediately respond to a request for comment. Lai's meeting with Mehrotra was not previously announced in the president's official schedule which is sent to reporters. Lai, who took office in May, has faced sustained pressure from China, which views democratically-governed Taiwan as its own territory and calls him a "separatist". He rejects Beijing's sovereignty claims and has repeatedly offered talks that China has rebuffed. (This story has been refiled to change company identifiers in paragraphs 1 and 2) (Reporting by Ben Blanchard; editing by Barbara Lewis)
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Taiwan's President Expresses Gratitude To Micron CEO For Ongoing Investment - Micron Technology (NASDAQ:MU)
In an unusual public acknowledgment, Taiwan's President, Lai Ching-te, has expressed his appreciation to Micron's CEO, Sanjay Mehrotra, for his sustained investment and trust in Taiwan. What Happened: This public recognition is a rare event, considering Taiwan is home to the world's largest contract chipmaker, TSMC, as reported by Reuters on Monday. Lai commended Mehrotra for his support and trust in Taiwan, as per a video released by the president's office. He also expressed his gratitude to Micron for its long-term investment in Taiwan and its efforts to enhance the DRAM process technology in the country. Micron, one of the few providers of high-bandwidth memory (HBM) chips essential for advanced AI systems, is expected by Taiwan to continue expanding its research and development capabilities. The government, Lai stated, will strive to create a "friendly living environment" for foreign talents to meet companies' needs. See Also: Top Apple Analyst Says Don't Expect Much For iPhone 16 This Year, But Tim Cook-Led Company Has A Slew Of Tetraprism Camera Upgrades In Pipeline The meeting between Lai and Mehrotra was not previously announced in the president's official schedule. Lai, who took office in May, has been under constant pressure from China, which considers Taiwan its territory and labels him a "separatist". Lai rejects Beijing's sovereignty claims and has repeatedly offered talks that China has rejected. Why It Matters: This public acknowledgment comes after significant investors made a noticeable bearish move on Micron Technology earlier this month. The trading activity suggests that these investors are aiming for a price territory ranging from $72.5 to $165.0 for Micron Technology over the recent three months. Moreover, Micron is set to report its third-quarter financial results soon. Analysts expect Micron to report third-quarter revenue of $6.63 billion. The company's focus on AI and its role as one of the few providers of HBM chips could have significant implications for its earnings. Read Next: Elon Musk Repeats Old Prediction After Stability AI Founder Predicts China Will Be First Nation With 100M And Then 1B Robots Image via Shutterstock This story was generated using Benzinga Neuro and edited by Pooja Rajkumari Market News and Data brought to you by Benzinga APIs
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Taiwan's President Tsai Ing-wen thanked Micron Technology CEO Sanjay Mehrotra for his ongoing trust and investment in Taiwan. The meeting highlights the strategic importance of Taiwan in the global semiconductor industry.
Taiwan's President Tsai Ing-wen expressed her gratitude to Micron Technology CEO Sanjay Mehrotra during a meeting in Taipei on Wednesday. The encounter underscores the critical role Taiwan plays in the global semiconductor industry and the strengthening ties between the island nation and key technology companies 1.
President Tsai thanked Mehrotra for Micron's continued trust in Taiwan, highlighting the company's ongoing investments in the country. Micron, a major U.S. chipmaker, has been expanding its presence in Taiwan, which is home to the world's largest contract chipmaker, Taiwan Semiconductor Manufacturing Co Ltd (TSMC) 2.
The meeting between President Tsai and Micron's CEO emphasizes Taiwan's strategic position in the global semiconductor supply chain. As tensions between China and Taiwan persist, the island's role in producing advanced chips has become increasingly significant for major technology companies and governments worldwide 1.
Micron has been actively expanding its operations in Taiwan. The company is currently constructing a new factory in the central Taiwanese city of Taichung. This expansion is part of Micron's broader strategy to enhance its production capabilities and strengthen its position in the memory chip market 3.
The meeting between President Tsai and Micron's CEO takes place against a backdrop of increasing global competition in the semiconductor industry. As countries worldwide seek to secure their chip supply chains, Taiwan's importance as a key player in this sector continues to grow. The ongoing investment from companies like Micron reinforces Taiwan's position and contributes to its economic stability 2.
As geopolitical tensions persist and the demand for advanced semiconductors continues to rise, the relationship between Taiwan and major technology companies like Micron is likely to remain crucial. The ongoing investments and expressions of trust from global industry leaders signal a positive outlook for Taiwan's semiconductor sector, despite the challenges posed by regional tensions and global economic uncertainties 3.
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