The Chip Supply Chain: Addressing the Shortage

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No, it’s not Chips A’Hoy! According to Reuters, U.S. President Joe Biden met with executives from major companies on Monday to discuss the global chip shortage that has severely hurt U.S. automakers and spurred Intel Corp to announce it plans to make chips for car plants at its factories in the next six to nine months.

Questions:

  1. What could the current supply crunch of chips lead to?
  2. How many corporate executives met with the Biden Administration on April 12?
  3. Executives from what tech companies were at the summit?
  4. How much has President Biden pledged to invest in semiconductor manufacturing and research as part of his broader focus on rebuilding U.S. manufacturing?

Source:

Bose, N. and S. Nellis. (2021). As Biden works to fix chips shortage, Intel promises help for hurting automakers. Reuters, April 12 (Retrievable online at https://www.reuters.com/article/us-usa-biden-chips-idUSKBN2BZ118)