Technically, a package of laws allocating roughly $52 billion in subsidies from US agencies to the development of the local semiconductor industry has not yet been signed by the country’s president. The bosses of Intel and Micron are invited to speak with the relevant reports in the US Senate, after which the package of measures must be finally approved.
Accordingly Reuters, Intel CEO Patrick Gelsinger and Micron Technology colleague Sanjay Mehrotra have been invited to address the US Senate Commerce Committee on March 23, along with the head of US truckmaker Paccar, they will discuss the impact of the semiconductor crisis in the US -Car industry. This event became known after the statement of the chairman of the committee Maria Cantwell (Maria Cantwell). She urged US Senate peers to act decisively as chip shortages have already cost the auto industry $210 billion in lost sales and 7.7 million vehicles not produced in 2021.
According to a Senate official, building a contract chip fab in Asia costs 30% or 50% less than in the US, mostly due to subsidies from foreign governments. Intel has already expressed its willingness to prove to lawmakers the importance of investing in securing US leadership in semiconductors. As is well known, the group intends to spend up to 100 billion dollars in the next ten years just to set up a production cluster in Ohio. The Intel boss has repeatedly emphasized that the company would have managed to do this without state support, but that the development of the industry was progressing faster. Micron announced in October its intention to spend up to $150 billion over ten years on the development of advanced memory chip technologies and related research.
US Secretary of Commerce Gina Raimondo added that the US provided 40% of world semiconductor production two decades ago and now its share does not exceed 12%. US President Joseph Biden met with the industry last week. He urged lawmakers and officials to get him a package of stimulus bills for his signature as soon as possible. The US Senate approved the subsidy bill in June last year and the US House of Representatives in February this year.