Semiconductor Stocks AMD, INTC, NVDA on Watch Ahead of Senate Vote Source: Shutterstock Semiconductor stocks are on the move Tuesday as investors await news on the new Chips Act heading to Congress this week. The Chips act would provide $52 billion to U.S. semiconductor companies in an effort to increase the country’s competitiveness with China. The bill already passed a preliminary vote in the Senate ahead of this week’s final confirmation vote. The final vote on the bill is set to take place either today or Wednesday. If it clears that hurdle, it will then be sent on to the House of Representatives for further confirmation. If all goes well, that would let it move to President Joe Biden’s desk to be signed into law. President Biden has shown support for the Chips Act as he believes the U.S. needs to bolster its semiconductor manufacturing capabilities. He said the following Monday in a statement collected by Yahoo! Finance . “Taiwan produces 90% of the leading-edge chips. We produce 0%. China is moving ahead of us in manufacturing sophisticated chips as well.