Chip stocks rallied Wednesday after the Senate moved closer to greenlighting more than $50 billion in funds for U.S.-based chip manufacturing, even as one chip-equipment maker gave an ominous forecast. Late Tuesday, senators passed a procedural vote of 64 to 34 to advance the $52 billion U.S. Innovation and Competition Act, even as details are still being worked out, a positive sign because that many votes would be able to overcome a filibuster. Funding appeared to be in danger in late June when Senate Republican leader Mitch…
