Subsidies for new plants

Intel Corp. is seeking funds to finance the construction of its chipmaking facilities. As The Wall Street Journal noted on Saturday, company chief executive Pat Gelsinger and other board representatives met with US administration officials on the issue in July.

The conversation with officials in Washington is just part of a campaign to attract subsidies. In similar meetings with officials in other countries, Gelsinger has drawn attention to the fact that the corporation has big plans to build facilities that will help balance the concentration of chips in Asia. Several billion dollars are needed to rectify the situation.

In particular, Gelsinger is trying to be one of the first to access government Subsidies of up to $3 billion per venture.

Founded in 1968, Intel makes electronic devices and computer components, including microprocessors. The company's 2020 turnover exceeded $77bn.

The world has been facing a semiconductor shortage over the past year due to a surge in demand for these products as mobile communications in many countries shifted to fifth-generation systems. With the pandemic and the expansion of remote working schemes, the production of personal computers and gaming consoles has also increased.