Home » US does not fund Intel and threatens to go to Europe

US does not fund Intel and threatens to go to Europe

The law CHIPS for Americawas known as the one who would lead the production of the market of semiconductors with an investment of $52 billion. However, this was approved by the senate more than a year and has not yet been realized. Considering this, the White House is messing around Pressure move on, but Intel doesn’t have much patience.

Passed as the US Competition and Innovation Act (USICA), this legislation is called CHIPS for America, a very appropriate name. Its objective was to increase the national production of semiconductors, in addition to promoting the research and development the same. With a total of 52 billion dollars of investment, this one promised a lot, if it had been realized. For this reason, the White House wants to strike one last blow before creating more problems.

The CHIPS for America Act must start now, before it’s too late

CHIPS For America Act Funding

The Commercial secretary, Gina Raimondo, hosted a briefing on senators and the importance of CHIPS funding. In fact, he assured that if Congress does not come to an agreement before August vacationRaimondo asked to offer the $52,000 million in incentives By herself. With this we can only see the number of points available to do so.

And that’s it, the CHIPS for America law takes stagnant for more than a year, due to several factors. We thus have the increase of global inflation, the bad economic situation we are going through and which will probably get worse in the future. However, it is essential that it be carried out, because several companies of great importance saw their plans destroyed.

We thus have Intelwhich should theoretically receive $20 billion thanks to the CHIPS law, to assign them to a new “great factory” in Ohio. As we imagine, not a penny arrived and, considering that the factory was going to start construction on July 22, we can already imagine how disappointed which is Intel.

Intel threatens to build its factories in Europe if it doesn’t receive funding soon

Intel Manufactures Europe Abandons America CHIPS Act

If we compare this with the treatment of other countries like Europehere Intel if you received a large investment from €6.8 billion to build the Magdeburg factoryGermany. Pat Gelsinger, the CEO of Intel, threatens the American state, saying that he will change sides if the CHIPS law is not approved. makes sure that will move to Europe if not funded soon.

“We made it very clear to McConnellDemocrats, Republicans, if this doesn’t pass, I’m going to change my plans,” Gelsinger said. before.”

As one can see, Intel loses patience and it is that their promised 20,000 million has not yet arrived, being the worst of all of which they do not know if they will ever arrive. And it is that, while the CHIPS For America law remains in limbo, not only Intel, but other large companies will have to act on it. For instance, TSMC and its Phoenix plant is also asking for that economic boost it has yet to provide. UNITED STATES.

Meanwhile, Europe and its regulations want to be the producers of twenty% of global silicon by 2030 paris with strong investments in the sector. China, on the other hand, is investing in its factories in the same way, because it knows that this market needs to grow in the current situation.

“Unfortunately, the request of these critical components outbidto create a chip shortage worldwide and giving rise to loss of growth and jobs in the economy.

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