Top chipmaker TSMC notched a new quarterly sales record at the end of 2021 boosted by continued demand from top clients including Apple and Qualcomm for semiconductors. The Taiwanese foundry, which manufacturers chips for other companies, reported December revenue of 155.38 billion new Taiwan dollars (about $5.6 billion) — a record number for a single month, and up 4.8% from November. Shares of Rivian Automotive fell 5% in afterhours trading Monday after the company said it missed its 2021 vehicle production target and confirmed the departure of its chief operating officer. The electric vehicle start-up said it built 1,015 vehicles in its first few months of production – falling 185 vehicles short of an initial manufacturing target. Of those vehicles, 920 were delivered to owners, Rivian said in a release. California Governor Gavin Newsom presented a $286.4 billion budget proposal, dubbed the “California Blueprint,” for the state on Monday. The plan suggests spending $22.5 billion to address the burgeoning climate crisis in the state, allocating a fresh $6.1 billion to electric vehicle related initiatives.
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