Intel CEO Urges Lawmakers To 'Not Waste This Crisis' in Chip Push
Intel Chief Executive Officer Pat Gelsinger urged the U.S. and Europe to push ahead with efforts to bring back chip manufacturing, arguing that government funding is needed to address an overconcentration of production in Asia. From a report: Governments need to learn from the disruptions of the pandemic and consider the national-security implications of having about 80% of production in Asia, Gelsinger said in an interview with Bloomberg News Editor-in-Chief John Micklethwait at The Year Ahead conference. Gelsinger said he was optimistic that the U.S. and European Union will push forward with proposed government funding to support the building of plants. "Let's not waste this crisis," he said. "It's good economics, but it's also national security." A chip shortage has ravaged a wide range of industries in the past year, hurting sales of everything from cars to iPhones. That's put a spotlight on the lack of production outside of Asia. Increasing tensions with China also have added pressure on U.S. lawmakers to restore local manufacturing. Gelsinger, 60, said he will soon announce expansion plans for Intel's manufacturing in the U.S. and Europe. Bloomberg has reported that the chipmaker is planning to build a production base in Germany and other facilities in Italy and France. Its next domestic factory will be in the Columbus, Ohio, area, according to Cleveland.com.
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