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US Chip Sector Calls on Joe Biden for Funding

By ET Bureau - February 12, 2021 1 Mins Read

US Chip Sector Calls on Joe Biden for Funding

A group of US chip firms has recently sent a letter to US President Joe Biden urging to arrange for “substantial funding for incentives for semiconductor manufacturing”. This is as part of the country’s infrastructure and economic recovery plans.

The chief officials of prominent US companies, including Intel Corp, Micron Technology Inc., Qualcomm Inc, and Advanced Micro Devices, have signed onto that letter.

This comes with the global chip shortage that has idled manufacturing lines at some companies, with experts predicting billions in lost profit. Even the letter sent by the Semiconductor Industry Association indicated that the US share of semiconductor manufacturing has dropped from 37% in 1990 – to 12% in 2021.

Source: Reuters


ET Bureau

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