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U.S. chipmakers push for CHIPS Act funding to close gap with Asia

Intel chief grilled on China business at Senate hearing

U.S. President Joe Biden, left, with Intel CEO Pat Gelsinger in Washington to announce the company's plans for more than $20 billion in chip production facilities in Ohio on Jan. 21.   © Reuters

PALO ALTO, U.S. -- Top semiconductor executives on Wednesday urged lawmakers to fund $52 billion for the American chipmaking sector as it plays catch-up with Asia, particularly China.

Intel CEO Pat Gelsinger and CEO Sanjay Mehrotra of memory chip maker Micron Technology testified in Washington at the Senate Committee on Commerce, Science and Transportation and made a case for prompt passage. They were joined in person by Tim Archer of chipmaking equipment company Lam Research and remotely by Preston Feight of truck maker PACCAR.

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