White House on chip shortage
The chip shortage is leading to supply chain issues in the auto industry and in other industries in the chip dominant world.
The White House press secretary Psaki is speaking to the issue ahead of a meeting on chips today. Says:
- semiconductor chip shortage is a national security issue
- White House wants to work closely with industry to prevent chip shortage from happening again
- Biden wants to hear directly from companies on the chip shortage
- does not expect decision for any announcement to come from meeting today.
Intel recently announced a $20 billion infrastructure plan to build a chip foundry.
Nvidia announced this morning that they are looking to make CPUs in direct competition to Intel. Nvidia shares have moved higher on the news (up about 1%). Intel shares have slumped 3.25% on the day.