One more market leadership accolade has been earned by thriving semiconductor firms.

• Just Capital's annual ranking of public companies on key stakeholder issues saw semiconductor manufacturers surpass Apple, Microsoft, and Alphabet in achieving significant gains.
• Intel, AMD, and Nvidia have prioritized worker concerns such as benefits, pay, and career advancement in their recent efforts, as reflected in the JUST 100 rankings.
• The focus of workers in the semiconductor industry is aligned with the rollout of the Biden administration's $52 billion CHIPS Act, which aims to increase U.S. chip manufacturing.

In the past year, chip stocks have surged ahead of FAANG and other tech sector leaders, thanks to market excitement over advanced AI chips. Now, this success has extended to another corporate performance metric, as semiconductor companies have surpassed FAANG stocks in Just Capital's annual ranking of public companies based on issues important to the American public, with all four companies finishing in the top 10.

In recent years, the relative rank of companies such as , , and has decreased compared to previous years, with only Apple remaining in the top 20 in 2024.

Several chip firms advanced on the JUST 100 ranking, with one firm moving up 235 spots to rank 89, and others also making the list.

According to Martin Whittaker, CEO of Just Capital, a nonprofit research firm founded by hedge fund billionaire Paul Tudor Jones, one or two industries consistently excel in promoting a more just economy. This year, it is evident that the semiconductor industry as a whole is leading the way forward.

According to Whittaker, semiconductor firms excelled on the JUST 100 list this year not only because of the jobs they provided but also due to their adoption and expansion of worker and community-friendly policies.

AMD improved its ranking by 119 positions to finish ninth on this year's list, primarily due to its strong performance in the communities, workers, and customers sections of the rankings. The company was tied for first overall within the entire Russell 1000 universe for local job creation and spent $14.9 million with diverse suppliers like women-, minority-, and veteran-owned businesses, boosting its communities stakeholder score. Additionally, AMD disclosed its minimum yearly salary for the first time and provided more information around career development and benefits, leading to a higher worker score. In terms of its customer score, Just Capital noted that AMD increased its disclosure within its privacy policy on users' ability to delete or modify their personal data and disclosed that it had no data breaches in the last reporting year.

Other semiconductor companies also made advancements in those areas, resulting in higher rankings.

Intel has increased transparency regarding pay ranges and company demographics, funded educational opportunities and programs, and enhanced its employee benefits, including 15 days of paid time off, 12 weeks of paid parental leave for both primary and secondary caregivers, and subsidized dependent care. Micron offers career development programs that result in an average of 62 hours of training per employee and conducts gender- and race-based pay equity analyses to ensure fairness in pay.

Worker issues have become increasingly important in the past 100 polling, with approximately 42% of the methodology being dedicated to this topic. Specifically, "paying a fair and living wage" was the top issue in the category, along with other topics such as career advancement opportunities, worker training and development, benefits, and retention. This year, these categories topped the list, largely due to their focus on worker concerns.

The rise in worker benefits from semiconductor companies coincides with the Biden administration's $52 billion Chips and Science Act, which aims to enhance U.S. competitiveness with China by increasing domestic semiconductor manufacturing and scientific research.

The bill signed in August 2022 has led to more than $40 billion in new semiconductor manufacturing investments in the U.S., according to the U.S. government. However, as these investments have increased, the talent gap for qualified workers in critical manufacturing roles has also grown. Taiwan Semiconductor Manufacturing Company, the largest contract chipmaker in the world, had to delay production at its $40 billion Arizona plant due to a shortage of workers in the U.S.

TSMC Arizona President Brian Harrison stated in August that the company is still in search of more skilled tradespeople, while also highlighting the installation of advanced equipment unique to the United States.

TSMC initially announced plans to employ Taiwanese workers to operate advanced technology and instruct American staff.

According to Harrison, U.S. workers lack experience with these particular tools and techniques.

By 2030, the chip industry in the U.S. is projected to create approximately 115,000 jobs, with 67,000 of those positions potentially remaining vacant due to insufficient educational training programs and school funding, according to a study from Oxford Economics and the Semiconductor Industry Association.

In a virtual event for the CNBC CEO Council in October, Michael Schmidt, director of the CHIPS Program Office, stated that the U.S. government's emphasis on the semiconductor industry has increased visibility and attracted college students towards semiconductor manufacturing as opposed to other tech jobs. He also mentioned that there is funding from the CHIPS Act allocated for worker development.

Since the CHIPS Act was passed in August, over 50 community colleges have introduced or expanded semiconductor workforce programs, and many of these chip companies are forming partnerships with local middle schools, high schools, community colleges, and universities.

The semiconductor industry's fierce competition for talent will keep worker concerns at the forefront of companies' priorities, despite no direct link between the CHIPS Act and their rise in the JUST 100 ranking.

Full rankings and information for the JUST 100 are available from Just Capital.