White House to discuss with Intel executives how to tackle semiconductor shortages

This coming Monday, April 12, the administration of US President Joe Biden will hold a meeting to explore possible solutions to the semiconductor supply problem affecting a number of industries in the country, including the automotive industry.


As it became known to Reuters, this meeting, which will be held in a virtual format, will be attended by Intel CEO Pat Gelsinger. He said last month that Intel will set aside $ 20 billion to build two new chip factories in Arizona. The launch of new facilities, which will be equipped with advanced equipment with support for modern technical processes and EUV lithography, is scheduled for 2024. According to Gelsinger, the shortage of semiconductor components will persist for quite a long time – about two years.

Reuters previously reported that the meeting will also be attended by the president’s national security adviser Jake Sullivan and chief economic aide Brian Deese, as well as chip and car manufacturers.

The shortage of semiconductors remains a serious problem for American industry. Because of this, Ford Motor Company was forced to cut production of its bestselling pickup, the F-150. It said last week that it will provide investors with an update on lower operating profit on April 28. Its operating income is expected to fall $ 1 billion this year to $ 2.5 billion.

Last week, the Biden administration called for $ 50 billion to support the US chip industry as part of a $ 2 trillion infrastructure strengthening program. In February, the US presidential administration ordered a semiconductor supply chain survey to find ways to address the shortage.

If you notice an error, select it with the mouse and press CTRL + ENTER.

Leave a Comment