The US semiconductor giants write to Biden

The semiconductor industry is the core of the computer technology market. Without powerful processors supporting our high-performing devices, there is absolutely no way for advanced operations to be undertaken.

The newly elected president Joe Biden has initiated the white house’s economic recovery and infrastructure plan. After Trump’s presidency nearly bankrupted the country, it seems that the new president is working hard to make amendments.

On the contrary personalities like Intel’s Bob Swan and AMD’s CEO Lisa Su, and several other prominent members of the semiconductor market have reached out to the new US president, stating that there must be a “substantial funding” as part of the White House’s economic recovery and infrastructure plan, to the semiconductor market.

The letter which was sent to the president represents 98% of the U.S. semiconductor industry by revenue, and included signatures by Swan and Su and CEOs and top executives at Nvidia, Broadcom, Western Digital, IBM, Qualcomm, and several other companies.

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“We, therefore, urge you to include in your recovery and infrastructure plan substantial funding for incentives for semiconductor manufacturing, in the form of grants and/or tax credits, and for basic and applied semiconductor research. We believe bold action is needed to address the challenges we face. The costs of inaction are high.”

Semiconductors are a crucial part of the US economy, and as we have witnessed in the last year, the country has been falling short in manufacturing the chipsets. Whereas their rivals like TSMC and SMIC have been increasing their productions and Samsung is proving to be a strong rival for the US-based silicon manufacturers.

Amidst all this, the semiconductor giants suggest that Biden should work with Congress to fund incentives and investments in U.S. semiconductor manufacturing and research authorized in the CHIPS for America Act as part of the 2021 defence bill, which passed in January.

“As a result, the U.S. is uncompetitive in attracting investments in new fab construction and our technology leadership is at risk in the race for preeminence in the technologies of the future, including artificial intelligence, 5G/6G, and quantum computing.”

If the US administration increases investments in domestic chip manufacturing, then it could help improve CPU supply, which can have a substantial financial impact on companies and other organizations.

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