Pat Gelsinger has expressed frustration with how slow the U.S. CHIPS and Science Act is working. The Intel CEO was speaking in an interview with the executive editor of Yahoo! Finance, Brian Sozzi. Since President Joe Biden enacted the law, Intel has invested over $30 billion in its U.S.-based manufacturing facilities while receiving zero from the American government.
"We see the CHIPS Act as a critical thing that we have invested a lot of energy to," said Gelsinger. "As we said on our [earnings] call, we are disappointed by the time it is taking to get it done: it is well over two years since the CHIPS Act passed and over that period I have invested $30 billion in U.S. manufacturing and we have seen $0 from the CHIPS grants. This is taking too long, we need to get it finished."
