Daily Brief Thematic (Sector/Industry): Five Things to Know About China’s Scandal-Struck Chip Industry ‘Big Fund’ and more

In today’s briefing:

Five Things to Know About China’s Scandal-Struck Chip Industry ‘Big Fund’

China Integrated Circuit Industry Investment Fund, a key player in the country’s quest for self-sufficiency in chipmaking, is at the center of an expanding anti-graft crackdown that is rattling the entire semiconductor industry
Since mid-July, China’s graft buster has confirmed investigations of at least six current and former executives of the fund
Industry experts said the Big Fund has played an indispensable role in cultivating China’s domestic chipmaking industry by providing stable funding and state endorsements to fledgling businesses that struggled to access capital elsewhere

Tesla Inc. has signed $5 billion worth of deals to buy nickel for electric-vehicle (EV) batteries from companies operating in an Indonesian industrial park that’s jointly run by Chinese metals giant Tsingshan Holdings Group Co. Ltd
Tesla has signed a five-year contract with nickel processing companies operating out of the Morowali Industrial Park on Sulawesi Island
The deals come as the Indonesian government seeks to draw in foreign investment to build a complete supply chain for new-energy vehicles

💡 Before it’s here, it’s on Smartkarma

The Smartkarma Preview Pass is your entry to the Independent Investment Research Network