Chipmakers urge Biden administration to invest in US manufacturing

The Biden administration and the semiconductor industry appear to be moving closer to creating a plan aimed at bolstering domestic chipmaking.

The effort could help resolve the critical microchip shortage currently hobbling industries from automobiles to video games. It could also address longstanding concerns about shrinking US capacity to produce these crucial electronics components. Industry leaders including Intel (INTC), AMD (AMD) and Qualcomm (QCOM) sent a letter to President Joe Biden Thursday urging him to include funding for semiconductor manufacturing and research in his administration's plans for economic recovery from the pandemic.