At the World Economic Forum (WEF) in Davos, Switzerland, Intel’s CEO stated that the location of technology supply chains and where semiconductors are produced will be more crucial to global politics in the coming decades than oil.
Intel’s recent investments in new manufacturing facilities in the US, Europe, and other regions are not only important for the company’s future, but also for the globalization of one of the world’s most critical resources. Last year, Intel announced plans to invest $20 billion in the construction of two new chip factories in the US and another $90 billion in new plants in Europe, reinforcing its leadership position in the semiconductor chip industry.
The statement comes amid concerns about the reliance on chip manufacturing in Asia, particularly China and Taiwan, as the COVID-19 epidemic and political tensions have intensified. Chip supply chain issues have resulted in shortages and delays in deliveries for a variety of products, from computers to iPhones and cars.