Intel's $5.4 billion chipmaking deal collapses due to Chinese reluctance

Intel has called off its $5.4 billion acquisition of Israeli chipmaker Tower Semiconductor due to the inability to secure regulatory approvals within the required timeframe. China effectively scuttled the deal by failing to approve it before the deadline. This highlights the challenges of obtaining regulatory clearance amid escalating US-China tensions. The US recently banned American investments in Chinese entities in three sectors, including semiconductors and microelectronics.