Intel CEO committed to long-term investment despite chip glut

U.S. producer hits the gas and the brake at same time, Gelsinger tells Davos

20230119N Intel CEO Pat Gelsinger REU

Intel CEO Pat Gelsinger announces the company's plan to build a $20 billion plant in the U.S. state of Ohio, at the White House in January 2022. © Reuters

AKITO TANAKA, Nikkei Asia chief business news correspondent

DAVOS, Switzerland -- Running Intel amid dramatic changes in global semiconductor demand feels like hitting a car's brakes and its gas pedal at the same time, the U.S. chipmaker's chief executive said on Thursday.

Turmoil in the chip supply chain, caused by the spread of COVID-19 and rising geopolitical risks, has prompted major semiconductor companies to invest vast amounts of money toward building fabrication plants worldwide.

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