US Commerce Secretary Leads Meeting to Promote Intel for Foundry for Nvidia and Apple

TapTechNews September 15th news, CNBC reported on September 12th that US Commerce Secretary Gina Raimondo led a closed-door investor meeting and recommended that Nvidia and Apple use Intel for foundry.

TapTechNews quoted media reports that before this closed-door investor meeting, Raimondo met with Intel CEO Pat Gelsinger, during which Gelsinger complained, expressing that current US companies rely too much on TSMC in chip manufacturing.

Sources said that in this closed-door investor meeting, the major shareholders of Nvidia and Apple attended, focusing on the importance of US chip manufacturing, and the subtext is to promote Intel, hoping that Apple and Nvidia will use Intel for foundry as much as possible.

Intel is currently expanding factories in four US states, aiming to transform into a more professional foundry enterprise to manufacture chips for other suppliers.

Intel received up to 8.5 billion US dollars in CHIPS Act funds from the Biden administration earlier this year and may receive another 110 billion US dollars in loans according to the act passed in 2022.

All funds have not been allocated. A senior government official disclosed to CNBC that it is expected to make allocations by the end of the year.