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GlobalFoundries celebrates US vote to push through CHIPS act

After US legislation that would provide funding for its chip industry passed its first hurdle, chip-maker GlobalFoundries said ‘now our country needs the Senate, House of Representatives and White House to make a final push.’

A bipartisan bill which suggests subsidising the US semiconductor industry passed its first test on Tuesday, with a 64-34 vote. The legislation known as CHIPS would have the US pump $52 billion into boosting chip production at home, amid the supply chain chaos which has seen multiple industries disrupted over the last few years due to a lack of availability.

One of the key players in US chip production, GlobalFoundries, said today of the vote:

“Today’s vote is an important, necessary and welcome milestone in an effort to develop and enact policies that strengthen US. high-tech manufacturing competitiveness, economic and national security, and create high-paying semiconductor manufacturing jobs in America,” said Dr. Thomas Caulfield, president and CEO of GF. “The past two years have clearly shown how vitally important chips are to American consumers, businesses and the economic health of our nation, both today and in the future.

“On behalf of GF’s more than 7,000 U.S. employees, I’d like to convey our appreciation to Senators Schumer and Cornyn, U.S. Secretary of Commerce Gina Raimondo and the many other leaders from both parties that have worked tirelessly and persistently to get us to this point. Now our country needs the Senate, House of Representatives and White House to make a final push so that we can grow chip manufacturing in the U.S.”

Demand for chips has gone through the roof as consumer products of every conceivable type now have functionality that requires some sort of microchip. Particularly effected is the automotive industry, in which the lack of availability has slowed up production significantly.

So it makes sense the US is trying to do something about it all. Though of course, it has been pointed out that at least some of the blame for the lack of availability can be laid at US policy makers themselves who unilateral took action to prevent Chinese companies getting hold of semiconductors containing American intellectual property, which in turn led to stockpiling.

 

 

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