logologologologo
  • Home
  • Business
  • Markets
  • Exchange
  • Investment
  • Personal Finance

How Intel became Biden’s main marketing tool for the US innovation bill

Joe Biden used his first State of the Union address to plug his $250 billion Innovation Act, which is still working its way through Congress.

If lawmakers pass the bill, he said, tech giant Intel would pour an extra $80 billion to expand its plans for a new chip plant in Ohio. The company’s current plans are to spend $20 billion. “Up to eight state-of-the-art factories in one place. Ten thousand new jobs,” Biden said. “Some of the most sophisticated manufacturing in the world to make computer chips the size of a fingertip that power the world and everyday lives.”

The Santa Clara, Calif.-based company has emerged as a tangible selling point for the bill, which aims to boost US semiconductor production, scientific research, artificial intelligence development, and space exploration. Since January, Intel CEO Pat Gelsinger has acted as spokesman for the effort, saying the facility would create a more resilient supply chain for the US.

The US government has been subsidizing the chip industry for a while, but with China quickly outpacing the rest of the world in its support for the semiconductor industry and a pandemic worsening a global chip shortage, Biden wants to write bigger checks. But building a few chip factories is not going to make the US independent from foreign manufacturing.

Global chip race

Regardless of government funding, Intel is set to increase overall capital expenditure to $25 billion to $30 billion for the next five years, said Stacy Rasgon, a senior analyst covering semiconductors at Bernstein.

The Innovation Act would give $52 billion over five years to the US semiconductor industry—a drop in the bucket compared to private investment.

While that would be a good start, it would not be enough to protect the US’ edge on semiconductor manufacturing, according to Rasgon and other Bernstein analysts. To make a difference, the government would have to invest in non-US semiconductor companies, and embrace immigration so that companies have the workers to run the semiconductor facilities, they added. That would be a much tougher sell in Congress.

Related posts

February 3, 2023

Where Will AMD Stock Be In 1 Year?


Read more

Categories

  • Business
  • Content
  • Exchange
  • Inflation
  • Investment
  • Markets
  • Personal Finance
  • Technology
  • Uncategorized

Archives

  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021

Recent Posts

  • Where Will AMD Stock Be In 1 Year?
  • Here’s how — and where — Netflix has started cracking down on password sharing
  • 2 reasons Meta stock is exploding 20% after a whopper earnings miss
  • Apple earnings: What to expect from the iPhone maker
  • Bitcoin closes out best January since 2013

About Us

The Alpha Cut a Vida Street LLC Company
1404 N. Ronald Reagan Blvd.
Suite 1120
Longwood, FL 32750

Link

(843) 256-4375
https://thealphacut.com

Why Us

Terms & Privacy
Policy & Procedure
Disclaimer

This material is not an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only.
Any performance results discussed herein represent past performance, not a guarantee of future performance, and are not indicative of any specific investment. Due to the timing of information presented, investment performance may be adjusted after the publication of this report. There can be no assurance that the future performance of any specific investment, investment strategy, or product made reference to directly or indirectly in this communication will be profitable, equal any corresponding indicated historical performance levels or be suitable for your portfolio.
All data in this communication is provided for informational purposes only and is not intended for trading or investing purposes. We expressly disclaim the accuracy, adequacy, or completeness of any data and content provided by financial exchanges, individual issuers, their respective affiliates and business partners and shall not be liable for any errors, omissions or other defects in, delays or interruptions in such data, or for any actions taken in reliance thereon. You agree not to copy, modify, reformat, download, store, reproduce, reprocess, transmit or redistribute any data or information found herein or use any such data or information in a commercial enterprise without obtaining our prior written consent.
We make no express or implied warranties or representations and shall have no liability whatsoever with respect to any data contained herein. The data may not be further redistributed or used to create indices or other financial products. This report and the views expressed herein are subject to change at any time based upon market or other conditions (such as domestic and global economic trends) and are current as of the date of publication hereof. The information, analysis, and opinions expressed herein are for general information only and are not intended to provide specific advice or recommendations for any individual or entity.
We emphasize that Investment in the securities of smaller companies can involve greater risk than is generally associated with investment in larger, more established companies, and can result in significant capital losses that may have a detrimental effect on the value of your investments.
Forecasting represents predictions of market prices and/or volume patterns utilizing varying analytical data. It is not representative of a projection of the stock market, or of any specific investment.
Nothing contained in this material is intended to constitute legal, tax, securities or investment advice, nor an opinion regarding the appropriateness of any investment. The general information contained in this publication should not be acted upon without obtaining specific legal, tax and investment advice from a licensed professional.
Please remember that all investments carry some level of risk, including the potential loss of principal invested. They do not typically grow at an even rate of return and may experience negative growth.As with any structuring of a portfolio of investments, attempting to reduce risk and increase return could, at certain times, unintentionally reduce returns.
The information, analysis and opinions expressed herein are for general, impersonal information only and are not intended to provide specific advice or recommendations for any individual entity.

copyright © Alpha Cut 2021. All Right Reserved
The Alpha Cut a Vida Street LLC Company