Treasury Secretary Scott Bessent has outlined the administration’s new approach to the H-1B visa programme, describing it as a targeted effort to bring in temporary foreign specialists who will train American workers rather than replace them. His remarks came during a televised interview in which he emphasised that the policy is intended to support the rebuilding of domestic manufacturing, shipbuilding capability, and semiconductor production after years of industrial decline. Bessent said the redesigned system is centred on the idea of “knowledge transfer,” where overseas experts are invited to the United States for a limited period to help restore technical capacity in critical sectors. According to him, the administration views this model as essential to equipping American workers with advanced skills that have diminished as supply chains and production moved abroad. He explained that the visa structure is meant to ensure that expertise flows into the country long enough for domestic workers to learn the required competencies before the foreign specialists return home. Addressing recurring concerns that increased reliance on foreign talent could displace American employees, Bessent maintained that the policy does not threaten domestic job opportunities. Instead, he argued that the United States currently lacks specialized talent in areas that have not been active on American soil for many years. He noted that industries such as shipbuilding and semiconductor fabrication require highly technical knowledge, which is more readily available in countries that have continued to develop those sectors. In his view, bringing in experts to train Americans is necessary for rebuilding industrial strength, not a means of outsourcing jobs. The comments followed President Donald Trump’s recent statements explaining that the country needs temporary foreign experts to accelerate the transfer of technical skills. The president said the United States does not currently have enough workers with the precision training required for advanced manufacturing, adding that it would be unrealistic to expect individuals without experience to instantly take on tasks such as missile production or microchip engineering. Both Trump and Bessent described the policy as a practical step toward reducing long-term dependence on imports by cultivating a stronger domestic workforce. Bessent also discussed broader elements of the administration’s economic agenda, including ongoing talks about a potential USD 2,000 tariff rebate for families earning less than USD 100,000 annually. He said the proposal is part of an effort to ensure that households directly benefit from trade policies designed to strengthen national competitiveness. The rebate, he added, is one component of the administration’s push to align the interests of Wall Street and Main Street, a vision he referred to as “Parallel Prosperity.” Looking ahead, the Treasury secretary predicted that 2026 could become a milestone year for the United States economy if the administration’s policy framework succeeds in restoring industrial capacity and stabilizing financial markets. He emphasized the importance of maintaining a deep and liquid Treasury market, suggesting that economic growth will depend on strong foundations that support both investment and employment. Throughout the interview, Bessent portrayed the H-1B reform as a crucial part of that broader plan, arguing that rebuilding the nation’s industrial base requires a temporary infusion of global expertise to ensure Americans can take full ownership of high-skilled jobs in the future.

Nvidia made history on Wednesday by becoming the first publicly traded company to achieve a market capitalization of $5 trillion, marking a defining moment in the global technology and artificial intelligence landscape. The milestone underscores the company’s rapid evolution from a graphics chip producer into the backbone of the worldwide AI revolution, firmly establishing its leadership in a sector reshaping economies and industries. The Santa Clara, California-based firm’s sto

Intel Corp. is reportedly in preliminary talks with Apple Inc. over a potential investment, according to Bloomberg. The chipmaker, which has struggled in recent years against rivals AMD and Nvidia, is seeking new partnerships to strengthen its global position. While the discussions are still in early stages and no agreement is confirmed, the possibility of Apple joining Intel’s revival plan has already stirred investor interest.

At the prestigious Semicon India 2025 conference, Prime Minister Narendra Modi was presented with India's first indigenously developed 32-bit microprocessor – the Vikram-32 chip. This groundbreaking achievement, showcased by Electronics and IT Minister Ashwini Vaishnaw, marks a monumental step in India's journey towards semiconductor self-reliance. Developed by the Indian Space Research Organisation&rsq

Prime Minister Narendra Modi has begun his two-day Japan visit with a packed agenda that includes strengthening economic ties, advancing technology partnerships, and reinforcing India’s role in the Quad grouping. The visit comes at a time of rising trade tensions with the United States following President Donald Trump’s imposition of a 50 per cent tariff on Indian goods. Against this backdrop, Tokyo is positioning itself as a stronger ally for New

Nvidia and AMD have agreed to provide the United States government with 15% of their revenue from specific chip sales to China as part of an unusual export license arrangement. The decision comes after earlier restrictions halted the sale of advanced semiconductors to China due to national security concerns. The administration stopped exports of certain high-performance chips in April, citing risks related to their potential use in military and artificial intelligence applications

Intel’s stock took a notable hit on Thursday after President Donald Trump publicly called for the resignation of Intel’s CEO, Lip-Bu Tan. The statement has intensified the spotlight on Intel’s leadership and its potential ties to foreign entities, particularly Chinese technology firms, as the U.S. continues to grapple with rising national security concerns surrounding global tech investments. In a social media post, President Trump declared that “The CEO of

In a major economic policy move, United States President Donald Trump announced on Wednesday, August 6 (local time), a new plan to impose a sweeping 100 percent tariff on imported computer chips and semiconductors, while providing full exemption for companies that manufacture them within the United States. The decision is seen as a strategic attempt to force global chipmakers to relocate or expand operations within American borders, even at the cost of short-term disruptions and potential inf

President Donald Trump has announced what he described as the largest trade agreement ever signed between the United States and the European Union. This comprehensive pact includes the imposition of a 15% tariff on European Union imports to the United States. The agreement was reached following a high-level meeting with European Commission President Ursula von der Leyen at the President’s private resort in Scotland. It was finalized just ahead of a looming deadline that could have

Intel has confirmed that it will be laying off more than 5,000 employees across the United States this week, a significant increase from the initial estimate of 4,000 job cuts. This revision comes after the company filed updated reports under the Worker Adjustment and Retraining Notification (WARN) Act. The majority of the layoffs will occur in Oregon and California, with significant cuts in Intel's operations across these states. In California alone, the

Nvidia has secured a crucial win in its ongoing negotiations with the U.S. government over AI chip exports to China. The Trump administration has decided to allow the tech giant to resume sales of its H20 chips to Chinese clients, following a reversal of earlier restrictions. According to Commerce Secretary Howard Lutnick, the green light for sales was granted on the condition that Nvidia would not export its most advanced chips, ensuring that national security interests remain protected whil

Nvidia, the global leader in advanced computing and artificial intelligence hardware, has confirmed that it has received approval from the United States government to sell its H20 AI chips to customers in China. The announcement was made by Nvidia CEO Jensen Huang during a trip to Beijing, where he is attending a major supply chain conference. According to the company’s official blog, the US government has given clearance to begin filing license applications for shipments of the H20 chi

Nvidia has reached an unprecedented milestone by becoming the first publicly traded company in history to surpass a $4 trillion market valuation. This historic achievement, reached on Wednesday, showcases the company’s rapid ascent in the global technology landscape, driven largely by the surging demand for its artificial intelligence-focused chips. Shares of Nvidia rose by 2.5% in early trading on Wednesday, climbing by $3.97 to exceed $164 per share. This marks a staggerin

In a historic move for the US tech sector, Texas Instruments (TI) has announced a massive investment of over $60 billion to boost domestic semiconductor manufacturing. This investment, set to roll out across seven fabrication plants in Texas and Utah, marks the largest such commitment in foundational chipmaking on American soil. The company expects the expansion to generate over 60,000 jobs and strengthen the country’s ability to produce critical compone

The recent developments in the semiconductor industry highlight a complex and evolving battle over technological supremacy, led prominently by the United States and China. When Huawei launched its Mate 60 Pro smartphone equipped with an advanced 7-nanometer chip despite stringent US export restrictions, it sent shockwaves through the global tech community. This event underscored that innovation can persist even in the face of severe sanctions. The US responded swiftly by tightening export contro

In a bold and sweeping move that signals a major shift in strategy, Intel Corporation is reportedly planning to lay off 20 percent of its global workforce. The decision, expected to be formally announced this week, marks the first significant restructuring initiative under newly appointed CEO Lip-Bu Tan, who took charge in March this year. The news, reported by Bloomberg, indicates a new era for the once-dominant chipmaker as it seeks to reclaim its position in a rapidly changing semiconducto

Nvidia, the crown jewel of Wall Street's artificial intelligence boom, suffered a staggering market loss this week, shedding nearly 7% of its value — over $148 billion in market capitalization — following the U.S. government's renewed crackdown on advanced chip exports to China. The dramatic sell-off marks one of the most severe single-day hits for the tech giant and signals growing fragility in the semiconductor sector amid intensifying geopolitical tensions. The immediat

India is positioning itself to become a global player in the rapidly expanding fields of artificial intelligence (AI) and chip manufacturing. Experts believe the country’s entry into the AI space, akin to the emergence of China’s DeepSeek, will be driven by strategic public-private partnerships within the next 4-5 years. Kunal Bahl, co-founder of Titan Capital and a prominent entrepreneur, emphasized this potential growth in a conversation about India&

In a significant leadership change, Intel Corporation has appointed Lip-Bu Tan as its new Chief Executive Officer, effective March 18, 2025. This move comes after Intel ousted its former CEO Pat Gelsinger following concerns about his ambitious turnaround strategy, which struggled to gain investor confidence. Tan, a seasoned semiconductor industry veteran and a former Intel board member, has a rich background in the tech industry. His appointment reflects Intel's commitment to retaining it

Microchip Technology has announced plans to lay off 2,000 employees, approximately 9 percent of its global workforce, as part of a restructuring plan aimed at cost reduction and operational efficiency. The decision is driven by declining semiconductor demand, particularly from the automotive sector, where companies are struggling to clear existing chip inventories before placing new orders.The semiconductor industry has faced challenges over the past year, with demand fluctuations affecting m