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Politics : Formerly About Advanced Micro Devices

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To: Sdgla who wrote (1445441)	3/10/2024 6:13:14 AM
From: FJB	2 Recommendations Recommended By longz miraje Read Replies (3) of 1577293

Samsung and Intel cancel plans to build advanced semiconductor plants in U.S. because of Biden DEI rules. Top microchip makers are postponing their expansion into the U.S. and setting up shop in Israel and Russia due to equity caveats that are required for them to receive grants from the U.S. government. The Biden administration promised earlier this year that they would be handing out $39 billion in grants to encourage semiconductor manufacturing in the U.S. Shortly after the announcement however, Intel announced they would be holding off on their Columbus factory, while Samsung also delayed their facility in Texas. Despite the billions in subsidies, two experts believe the tech companies' decision to back out of building manufacturing facilities in the U.S. stems from the diversity, equity and inclusion policy. In an opinion piece for The Hill, CEO of Strive Asset Management Matt Cole and head of research at the company, Chris Nicholson, say the subsidies are so 'loaded with DEI that it can't move.'

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