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Intel is also expected to receive $11 billion in loans for computer chip factories in four US states. The fiscal injection should help increase the U.S. share of global cutting-edge chip production to 20 percent by the end of the decade, it said.
Biden made the announcement during a visit to Intel’s manufacturing facility in Chandler, Arizona. “You’re bringing the future back to America,” Biden said during a meeting with Intel boss Pat Gelsinger and other company employees, according to reporters traveling with him.
Currently, ultra-modern chips for smartphones are produced mostly in Taiwan by the manufacturer TSMC. The West’s biggest concern is that political tensions with China will disrupt semiconductor supply, which will have devastating consequences for the economy.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
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