2024-03-21 13:30:59
The American government intends to allocate billions of dollars to stimulate the production of chips in the country, BTA reported, citing DPA.
President Joe Biden announced on Wednesday that his administration intends to provide US technology giant Intel with up to $8.5 billion in direct financing, as well as $11 billion in loans to be invested in computer chip factories in four US states.
The purpose of the financial injection is to help increase the US share of global production of state-of-the-art chips to 20% by the end of the decade.
Biden announced his intentions during a visit to Intel’s manufacturing facility in Chandler, Arizona. He turned to the company’s CEO, Pat Gelsinger, saying, “You’re taking America’s future back, man!”.
Currently, state-of-the-art smartphone chips, for example, are mainly produced in Taiwan by manufacturer TSMC, DPA noted. However, the West fears that political tensions with China could cut off semiconductor supplies, which would have devastating consequences for the economy.