March 22, 2024 /SemiMedia/ -- Intel CEO Gelsinger said in a recent interview that more than 80% of current chips are manufactured in Asia, and Intel's goal is that by the end of this decade, at least 50% of the world's advanced semiconductors will be produced in the United States and Europe.

Gelsinger said that chips are the most important technology in human history and have become the most important resources in the world. However, the United States has lost control of semiconductor production. Now more than 80% of chips are manufactured in Asia. Its share of global semiconductor manufacturing capacity has dropped from 37% in 1990 to 12% now.

Gelsinger said that the U.S. Department of Commerce announced on March 20 that it would provide Intel Corporation with $8.5 billion in grant subsidies and up to $11 billion in loans under the Chip Act. This funding has strengthened companies such as Intel and is a Significant investment to build a strong chip supply chain in the United States.

He said that Intel's ultimate goal is to have at least 50% of the world's advanced semiconductor manufacturing produced in the United States and Europe before the end of this decade.

Gelsinger considered the CHIP Act an important milestone and emphasized the need for a second CHIP Act to accelerate the strengthening of the U.S. technology supply chain, support further investment in research and development, expand STEM (science, technology, engineering and mathematics education) education and cultivate the future workforce.