{"id":74265,"date":"2026-11-06T10:38:13","date_gmt":"2026-11-06T14:38:13","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/white-house-economic-director-kevin-hassett-signals-confidence-in-intel-recovery-and-data-center-growth\/74265\/"},"modified":"2026-11-06T10:38:13","modified_gmt":"2026-11-06T14:38:13","slug":"white-house-economic-director-kevin-hassett-signals-confidence-in-intel-recovery-and-data-center-growth","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/white-house-economic-director-kevin-hassett-signals-confidence-in-intel-recovery-and-data-center-growth\/74265\/","title":{"rendered":"White House Economic Director Kevin Hassett Signals Confidence in Intel Recovery and Data Center Growth"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Kevin Hassett<\/strong>, White House National Economic Council Director, expressed strong confidence in <strong>Intel<\/strong> (<a href=\"\/stock\/INTC\">INTC<\/a>), noting the company\u2019s recent performance is &quot;good news&quot; for the broader chip market and that President Trump remains &quot;excited&quot; about the federal government&#39;s deal with the firm.<\/li>\n<li>The <strong>European Central Bank (ECB)<\/strong> is considering a formal review of bank loans to <strong>data centers<\/strong>, assessing potential risks related to AI market valuations and rising interest rates.<\/li>\n<li><strong>TSMC<\/strong> (<a href=\"\/stock\/TSM\">TSM<\/a>) is reportedly weighing a move into <strong>advanced memory chip production<\/strong> to capture a larger share of the massive surge in AI infrastructure spending.<\/li>\n<li>White House officials emphasized that the U.S. can maintain a &quot;<strong>blockbuster economy<\/strong>&quot; even if the current pace of data center construction slows, while maintaining that there is still &quot;plenty of room&quot; for growth.<\/li>\n<li>Geopolitical tensions are escalating as reports emerge of Iranian preparations for potential strikes on the <strong>Pickaxe Mountain<\/strong> nuclear facility, with regional neighbors bracing for possible radioactive fallout.<\/li>\n<\/ul>\n<h2>Hassett Bullish on Intel and U.S. Economic Momentum<\/h2>\n<p>White House National Economic Council Director <strong>Kevin Hassett<\/strong> provided a reassuring outlook on the semiconductor industry Friday, highlighting <strong>Intel<\/strong> (<a href=\"\/stock\/INTC\">INTC<\/a>) as a key success story. Hassett noted that it is &quot;reassuring&quot; to see the chipmaker turn around sharply over time, a development he views as a positive indicator for the entire chip market. He further confirmed that <strong>President Trump<\/strong> remains highly supportive of the administration&#39;s strategic deal with Intel, which included a significant <strong>$8.9 billion federal investment<\/strong> aimed at bolstering domestic production.<\/p>\n<p>Regarding the broader economy, Hassett told <strong>CNBC<\/strong> that the U.S. is currently benefiting from &quot;runaway job growth&quot; observed over the last three months. While he acknowledged the massive scale of the AI buildout, he asserted that the U.S. could still sustain a &quot;blockbuster economy&quot; even if the rate of data center expansion begins to decelerate. He emphasized that the administration wants local communities to have the final say on the development of these facilities.<\/p>\n<h2>Regulators Turn Scrutiny Toward AI Financing<\/h2>\n<p>As the AI boom continues, global regulators are beginning to question the sustainability of its financing. The <strong>European Central Bank (ECB)<\/strong> is reportedly mulling a review of bank lending tied to <strong>data centers<\/strong>. This move comes amid concerns that high interest rates and potential shifts in AI sentiment could leave banks exposed to overvalued collateral. The review may include on-site inspections to examine how financial institutions are accounting for future cash flows in the sector.<\/p>\n<p>In a parallel move to secure its dominance in the AI supply chain, <strong>TSMC<\/strong> (<a href=\"\/stock\/TSM\">TSM<\/a>) is exploring the production of advanced memory chips. By integrating memory more closely with its logic processors through advanced packaging, the world&#39;s largest foundry aims to alleviate current bottlenecks in AI chip production. This shift follows <strong>TSMC&#39;s<\/strong> recent decision to boost its 2026 capital budget to as much as <strong>$64 billion<\/strong> to meet relentless demand from customers like <strong><a href=\"https:\/\/stockmarketwatch.com\/stock\/NVDA\" data-internallinksmanager029f6b8e52c=\"15\" title=\"stock: NVDA\">Nvidia<\/a><\/strong> (<a href=\"\/stock\/NVDA\">NVDA<\/a>).<\/p>\n<h2>Global Political and Geopolitical Risks<\/h2>\n<p>In Europe, French Prime Minister <strong>S\u00e9bastien Lecornu<\/strong> is considering the use of <strong>Article 49.3<\/strong> or an executive order to pass the 2027 budget. The move follows the National Assembly&#39;s rejection of the bill and highlights the ongoing political instability in France as the government struggles to implement <strong>\u20ac54 billion<\/strong> in planned savings.<\/p>\n<p>Meanwhile, the Middle East remains a flashpoint of concern for global markets. Reports from <em>The Times<\/em> indicate that Iranian officials are preparing for &quot;fire, fury, and nuclear fallout&quot; at the <strong>Pickaxe Mountain<\/strong> facility. Tensions have spiked following rumors of potential U.S. strikes on the site, leading neighboring <strong>Iraq<\/strong> to activate nuclear emergency plans and radiation monitoring systems along its border. While the White House has not confirmed military plans, the rhetoric has added a significant risk premium to global energy and tech markets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Kevin Hassett, White House National Economic Council Director, expressed strong confidence in Intel (INTC), noting the company\u2019s recent 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