Intel Begs for a Bailout
levernews.com
levernews.com
I mean, I don't think he's wrong. Who wrote the checks for TSMC? Who invested in Samsung's fabs, or Germany's domestic foundries? If the US wants to play ball in the semiconductor industry, they need the value proposition to be more attractive than the preexisting fabs.
Can we instead fund an AMD fab? At least they don't have a history of acting like price gouging jerks.
I reckon what Gelsinger is saying goes for AMD, too. They wouldn't make any more money running domestic fabs, and I reckon they don't have any for the same reason Intel doesn't.
They profited more than they are asking for over the last year alone and could fund this if they wanted to.
We should invest as a matter of national security, but we need to prevent history from repeating by addressing the situation that got us here at the same time. The Intel CEO is trying to extort us out of $76B without putting anything up and demanding that congress extend session to finish the bill, otherwise they won’t invest in their own home country. Do you think this flies elsewhere in the world? It’s not just the money from the state, it’s having a strong government instead of one writing corporate welfare checks for these giant corporations.
Sure, it's the norm elsewhere in the world. If the US doesn't invest in their infrastructure, private or otherwise, then they're going to watch their jobs shift overseas. Intel and AMD are perfectly contented to keep paying TSMC, Globalfoundries and Samsung's Korean fabs to do the grunt work. Like I said elsewhere, the real problem is that there's no value proposition in manufacturing domestic silicon. Without the ability to pay people under minimum wage, the American semiconductor industry will always be a sinking ship. The only solution is, like you said, treating this as a matter of national security if it's something we care about.
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Either we're doing capitalism or socialism.
Bailouts amount to socializing losses while gains stay privatized, it's total bullshit. We can't even have socialized healthcare and universities, yet we piss money away on saving these corporations.
The only kind of bailouts I might be convinced to get behind is when it nationalizes the entity being bailed out. It's no longer a private sector corporation, it belongs to the nation because it was too big/important to allow cease to exist. Leadership replaced, it's now a government jobs program and profits get distributed as dividends to all citizens.
But hey, your favorite corporation's line went up so smile