Governments across the world are trying to solve the semiconductor crisis and reduce their dependency on TSMC, the Taiwanese Semiconductor Manufacturing Company, that accounts for more than half of the global semiconductor manufacturing. In the United States, both the government and private companies have announced multiple policies and steps to ensure a crisis like this never happens again. This is why the CEOs of Intel and Micron want the government to subsidize domestic semiconductor manufacturing here in the United States.
According to previously unreported testimony viewed by Reuters, Intel CEO Pat Gelsinger says that "there is an urgent need for the federal government to incentivize more private sector investment in the United States to enable a resilient and innovative semiconductor ecosystem."
Meanwhile, Micron CEO Sanjay Mehrotra wrote in his testimony that approving $52 billion for chips "will kick start investment in workforce development, R&D, innovation, and expansion of manufacturing in the near term."
Intel had previously announced plans to boost semiconductor manufacturing in the US. However, Gelsinger has stated in his testimony that $100 billion of Intel's potential investment in Ohio may depend on support from the CHIPS Act. Both the Senate and House have passed different versions of legislation approving the $52 billion subsidies in provisions under the CHIPS Act. However, both are not on the same page when it comes to other provisions aimed at boosting US-China competitiveness.