Federal Intervention in Semiconductor Sector Sparks Industry Debate
Kevin Hassett, a White House economic adviser, suggested the federal government may acquire stakes in other U.S. semiconductor firms or expand into other industries, following its stake in Intel. The move comes as the CHIPS Act funds are being distributed as planned.
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In a significant development, the federal government is signaling potential forays into the semiconductor industry beyond its recent investment in Intel. Kevin Hassett, the White House economic adviser, mentioned in a CNBC interview that the government could extend its stakes to other U.S. semiconductor companies or possibly pivot to different industries.
Hassett's remarks follow the disbursement of funds through the CHIPS Act, which is proceeding as initially planned. The CHIPS Act, designed to boost the U.S. semiconductor industry, is seeing its finances align with strategic economic interests.
Industry insiders are keenly observing the next moves by the federal government, speculating on possible implications for market competition and technological innovation amid these government-backed investments.
(With inputs from agencies.)
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