The US Will Release Chip Shortage Study Details Amid Funding Push
The study details of the chip shortage are set to be released by the US amid a funding push.
A warning has been released by the manufacturer and chip industry that the supply shortage of chips could last till least 2023.
The president of the US Joe Biden said recently about the shortage tension over the international market including this be has been constantly pressing to congress to approve more funds to boost chip production.
Highlighted Facts
- The related department has released a statement over the issue as it received cooperation.
- Nancy Pelosi, the House Speaker of the US has indicated presenting the bill related to the chip.
- The giant company of Chip making, Intel has recently released the information regarding the investment in the chip which is about $20 billion (INR 1, 49, 580 crores).
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The current situation in the congress parliament of the US the matter of Chip shortage is on the talk table and the push is making towards the increase in chip production. The US Commerce Department is expected to soon release details from a study of semiconductor chips which was conducted last year.
In September, the US Commerce Department has asked the related chip manufacturer industries to submit the production detail amid the shortage of chips that has curtailed auto production around the world.
The department has been told that it has received the cooperation but has not yet released the study detail. The automakers and chip manufacturer has warned that the chip shortage could last until at least 2023.
On Monday, the secretary of the Commerce Departmentof the US Gina Raimondo said “The United States faces both an immediate supply shortage that’s driving up prices and a long-term threat to America’s economic and national security if we don’t increase the domestic supply of chips,” said on the matter of chip shortage in the international market.
House Democrats expect to introduce the legislation early this week aimed at increasing US competitiveness with China and spending $52 billion on semiconductor production and research and the funding to the related subject has been earlier approved in June, the sources told the information to Reuters.
US House Speaker, Nancy Pelosi said that the bill would come “soon” and the voting procedure on the floor of the house is expected in February, as told by the sources.
US president Joe Biden has been pressing Congress to raise more funds for the production of the chips. The government is well aware of the key component which is being used in the production of technology products like laptops and computers. The government is trying to control the bottlenecks in the production of hardware technology in the world.
