Intel Corp.’s new CEO Pat Gelsinger doesn’t see the semiconductor shortage plaguing industry being resolved for at least a few more years. Intel is reworking some of its factories to increase production and address the chip shortage in the auto industry, but it will take at least several months for the strain on supply to even begin easing, according to Gelsinger. Exacerbating the problem has been dwindling U.S. dominance in semiconductor production, with only 12% of global chip manufacturing done in the U.S., down from 37% twenty five years ago. “Anybody who looks at the supply chain says ‘that’s a problem’ Gelsinger said. “This is a big critical industry and we want more of it on American soil: the jobs that we want in America, the control of our long-term technology future.”

For more: https://www.bloomberg.com/news/articles/2021-05-02/intel-s-new-ceo-won-t-be-anywhere-near-as-focused-on-buybacks

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