Today is Monday, September 23, 2024.

The Early Bird Index today is 73.59.

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TSMC's Next Play Revealed 🌍

The Taiwan Semiconductor Manufacturing Company (NYSE: TSM) is having an extraordinary year, and now the chip giant is reportedly planning its next major expansion.

Details: The Wall Street Journal reported Sunday that TSMC is discussing with Samsung (KRX: 005930) about building huge factories in the Middle East in the coming years to become a hub for artificial intelligence investments.

• The potential chip projects, slated in the United Arab Emirates, could be worth more than $100 billion.

Background: Driven by strong financials and higher demand, shares of TSMC are up 71.46% this year.

Early Bird’s Nest Egg Gains: Despite substantial investments and ambitious plans, the Middle East remains relatively untapped for AI product projects like chip development.

• One of the primary challenges facing the Middle East in AI product development is the shortage of skilled professionals.

• Currently, the Middle East is more focused on adopting and implementing AI rather than developing core AI technologies.

Final Thoughts: Perhaps other semiconductor players will also consider expansion to the Middle East.

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Notables

Notable Earnings Today: AAR Corp (NYSE: AIR), Red Cat Holdings (Nasdaq: RCAT).

Notable IPOs Today: M3-Brigade Acquisition V Corp. Class A Ordinary shares (Nasdaq: MBAV).

Notable Equity Crowdfunding Campaigns Ending Today: GoSun (StartEngine), Upper Health (Wefunder), HapTech Holdings (Wefunder), Kuleana Spirits (StartEngine).

Notable Economic Events Today: S&P Global US Manufacturing PMI (9:45 a.m. ET), S&P Global Services PMI (9:45 a.m. ET), S&P Global Composite PMI (9:45 a.m. ET).

Intel's Multibillion-Dollar Offer

After a disastrous start to 2024, things are picking up for Intel (Nasdaq: INTC), and now a major investment firm wants a piece of the semiconductor company.

Details: Bloomberg reported Sunday that Apollo Global Management (NYSE: APO) has offered a multibillion-dollar investment in Intel. The companies have not commented on the report.

Background: There were reports last week that Qualcomm (Nasdaq: QCOMM) approached Intel about buying the company. Intel also recently announced a new collaboration and funding from the U.S. CHIPS Act.

Final Thoughts: Intel is down 54% this year, but up 8% in the last 30 days.

Bitcoin Continues September Boost

The price of Bitcoin jumped about 1.4% on Sunday, nearly touching its one-month high.

Background: Bitcoin is up 9% in the last 7 days because the U.S. Federal Reserve cut interest rates last week.

Final Thoughts: Most other cryptocurrency prices remained flat on Sunday.

Trends to Watch

Digital Assets Hub: African economies show high potential for digital asset adoption (Cointelegraph)

Mortgage Pain: For home shoppers, the Fed’s big rate cut is likely just a small step towards affording a home (Associated Press)

Golden Question: Is Gold rally signaling a black swan event? (Finbold)

The Only Thing Burning was Fuel: JetBlue flight makes emergency landing after smoke alert in cargo hold (NBC News)

The Wrath of the Market: The Satellite Economy Has a Sweet Spot. Markets Hate It. (Wall Street Journal)

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_{The contents of Early Bird are intended for informational and entertainment purposes only. They do not constitute trade or investment recommendations and they are not financial or legal advice. Readers are encouraged to consult licensed professionals for personalized guidance regarding their financial or legal situations.}