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Intel CEO to attend White House meeting on chip supply chain

Intel CEO to attend White House meeting on chip supply chain

FILE PHOTO: A visitor passes an Intel logo at the Mobile World Congress in Barcelona, Spain, February 26, 2018. REUTERS/Sergio Perez/File Photo

SANTA CLARA, California: Intel Corp CEO Pat Gelsinger will virtually attend a meeting being put together by President Joe Biden's administration for Apr 12 to discuss the semiconductor supply chain issues disrupting US automotive factories, according to a person familiar with the matter.

Reuters previously reported the meeting will include Biden's national security adviser, Jake Sullivan, and a top economic aide, Brian Deese, as well as chipmakers and automakers.

Gelsinger last month said Intel will spend US$20 billion to build two new chip factories in Arizona.

A chip shortage has been disrupting US automobile production since late last year.

Ford Motor, which has had to cut production of its best-selling F-150 because of the shortage, last week said that it will provide investors an update on the hit to its operating profit on Apr 28.

The US automaker previously said its operating profit this year would be reduced by US$1 billion to US$2.5 billion. The update to that forecast will be provided when Ford reports first-quarter results on Apr 28.

The Biden administration last week called for US$50 billion in funding to support the US chip industry as part of the administration's US$2 trillion infrastructure plan. In February, the administration ordered a review of the semiconductor supply chain to find gaps in US manufacturing capabilities.

Source: Reuters

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