semiconductor stocks rose wednesday as the us senate voted for a bill that would grant us chip manufacturers more than 52 billion in funding to build domestic siliconwafer fabrication plants and lessen reliance on asia for production on wednesday the senate voted 64 to 33 to pass a measure that could see action in the house and land on president joe biden’s desk for signing by the end of the week the vote puts us lawmakers that much closer to releasing 527 billion in funds to help boost domestic siliconwafer production that initiative appeared to get caught up in partisan politics so much so that intel corp intc chose to delay groundbreaking on its fab complex in ohio the phlx semiconductor index sox was last up 25 trading as high as 32 while the sp 500 index spx was up 13 and the techheavy nasdaq composite index comp surged 25 benefiting from the bill would be us chip makers who own their own fabs the supercomplex foundries that make the silicon wagers that are used in chipmaking such as intel texas instruments inc txn and micron technology inc mu  in addition to thirdparty fab globalfoundries inc gfs texas instruments shares rallied 5 wednesday also boosted by an earnings beat late tuesday intel shares rose 18 micron shares rose 15 and globalfoundries shares advanced 14 see also here are 15 semiconductor stocks expected to shine through 2024 fabless chip makers which use thirdparty fabs like taiwan semiconductor manufacturing co tsm for their silicon like advanced micro devices inc amd  nvidia corp nvda  qualcomm inc qcom  apple inc aapl  would not stand to benefit from the funding but their shares were also carried higher nvidia shares were also up 5 while amd shares were up 3 apple shares were up 18 and qualcomm shares ticked less than 1 higher ahead of an earnings report scheduled for wednesday afternoon in a statement following the vote senate majority leader chuck schumer called building up us chipmaking infrastructure a “sputnik moment” in which the us finds itself behind the tech curve and seeks to bounce back rather than being behind the soviet union in space technology as was the case with sputnik schumer said the us finds itself falling behind in chip manufacturing and vulnerable to china which has been funding chipmaking capacity even as the majority of the world’s fab capacity is located in taiwan which mainland china considers its territory more on the news senate advances 52 billion chips bill in 6432 vote and house could give its ok by end of week “while we still have a lot of work to do to boost us competitiveness with china the senate passage of this legislation represents an important step in bringing back american manufacturing shoring up us innovation and reducing costs for families” sen mark warner dva said in a statement warner who chairs the senate select committee on intelligence said “i urge my house colleagues to act like our economy and national security depends on it and send this bill to the president’s desk without delay” for the monthtodate the sox chip index is up nearly 12 while the sp 500 is up 5 and the nasdaq is up 75