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Intel CEO Urges Lawmakers to ‘Not Waste This Crisis’ in Chip Push

  • CEO says he’s optimistic government funding plans will pass
  • ‘It’s good economics, but it’s also national security’
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Intel CEO Patrick Gelsinger speaks at the at the Bloomberg Year Ahead virtual summit.Source: Bloomberg
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Intel Corp. Chief Executive Officer Pat Gelsinger urged the U.S. and Europe to push ahead with efforts to bring back chip manufacturing, arguing that government funding is needed to address an overconcentration of production in Asia. 

Governments need to learn from the disruptions of the pandemic and consider the national-security implications of having about 80% of production in Asia, Gelsinger said in an interview with Bloomberg News Editor-in-Chief John Micklethwait at The Year Ahead conference. Gelsinger said he was optimistic that the U.S. and European Union will push forward with proposed government funding to support the building of plants.