Morning Brief Co-Hosts Seana Smith and Brad Smith break down trending tickers and top developments in the semiconductor industry.

The US government is contemplating imposing a cap on AI chip exports to specific countries. This potential measure would establish a ceiling on export licenses for major chip manufacturers like Nvidia (NVDA) and AMD (AMD). The Biden administration has already implemented restrictions on shipments to over 40 countries.

Meanwhile, EV chipmaker Wolfspeed (WOLF) is set to receive $750 million in US CHIPS Act grants. These funds are for factory expansion plans in North Carolina and New York.

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This post was written by Angel Smith