"SoftBank's $100 Billion AI-Chip Venture Sends Semiconductor Sector Soaring"

SoftBank is reportedly considering a $100 billion AI chip venture, with $30 billion coming from the company and $70 billion from Middle Eastern institutions. The venture, codenamed Izanagi, aims to rival Nvidia and is a sign of SoftBank's shift from funding startups to focusing on semiconductors. The company's share price rose nearly 5% following the news. Additionally, the Biden administration is providing substantial subsidies under the 2022 CHIPS Act to stimulate semiconductor manufacturing in the U.S., with companies like GlobalFoundries and Intel potentially receiving billions in support.