HomeNewsWorldIntel, Apple to be among attendees of White House meeting on chip shortage

Intel, Apple to be among attendees of White House meeting on chip shortage

The meeting will be hosted by Secretary of Commerce Gina Raimondo and National Economic Council Director Brian Deese, the Commerce Department said earlier this month. Topics will include the impact of the coronavirus Delta variant on chip supplies and how to better coordinate between chip producers and consumers.

September 23, 2021 / 07:17 IST
Intel says the new chips offer a 19 percent performance increase and 2.5 times the bandwidth of the 10th Gen Core Mobile series

Intel Corp Chief Executive Pat Gelsinger plans to attend a virtual White House meeting on the global chip shortage, along with representatives from companies including Apple, Microsoft, Samsung Electronics, GM, Ford and Stellantis, people familiar with the matter said.

The meeting will be hosted by Secretary of Commerce Gina Raimondo and National Economic Council Director Brian Deese, the Commerce Department said earlier this month. Topics will include the impact of the coronavirus Delta variant on chip supplies and how to better coordinate between chip producers and consumers.

Other attendees will include TSMC, BMW and Micron Technology Inc, sources said.

The White House had said only that attendees would include producers, consumers and industry groups. The Commerce Department did not immediately respond to a request for comment.

A shortage of semiconductor chips has forced top automakers to cut production worldwide after a decrease in demand for cars early in the coronavirus pandemic led many chipmakers to shift production to computers and tablets, whose demand was soaring.

The White House meeting is the latest in a string of summits on the topic, allowing the Biden administration to show it is taking the chip crunch seriously.

President Joe Biden met with executives from major companies in April, saying he had bipartisan support for legislation to fund the semiconductor industry. In May, Raimondo said she held meetings with three dozen senior industry leaders on the chip shortage and said the United States could help boost transparency in the market.

While Intel and TSMC have announced plans to ramp up chip production with new U.S.-based plants, it takes years for new semiconductor plants to ramp up to full production. Meanwhile, legislation to fund a plan to offer grants to chipmakers to expand or build new factories awaits congressional approval.

Reuters
first published: Sep 23, 2021 07:18 am

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Subscribe to Tech Newsletters

  • On Saturdays

    Find the best of Al News in one place, specially curated for you every weekend.

  • Daily-Weekdays

    Stay on top of the latest tech trends and biggest startup news.

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347