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Intel CEO talks the CHIPS Act

Yahoo Finance Video

Intel CEO Pat Gelsinger talks the CHIPS Act.

Video transcript

PAT GELSINGER: With or without the CHIPS Act, we think we still have some rough road in front of us. And I've said we believe the chip shortage is at its worst right now. It will get incrementally better as we go through '22, but we expect the shortage to persist into '23.

If the CHIPS Act doesn't pass, if the European Act doesn't pass, we think the slope of the recovery dampens. If it passes, I'm announcing our next fab. Shovels go underground more rapidly if this gets put into place. So let's get it done.