Biden Administration Taps Wall Street to Help Revive Chips Industry

WSJ Tech News Briefing

The Wall Street Journal

News, Tech News

4.3 • 1.7K Ratings

🗓️ 22 August 2023

⏱️ 12 minutes

🔗️ Recording | iTunes | RSS

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Summary

To bring semiconductors production back to the U.S. the Biden administration has tapped Wall Street insiders to help it allocate $39 billion in taxpayer-funded subsidies and incentives. WSJ reporter Yuka Hayashi joins host Zoe Thomas to explain why their expertise is valuable for one of the most significant acts of government intervention since World War II. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	At Salesforce, we're all about asking more of AI.
0:03.7	Questions like, where is the data going?
0:06.0	Is it private?
0:07.0	Is it secure?
0:08.0	Are you sure?
0:09.0	Are you sure you're sure?
0:11.0	Is anyone really sure?
0:13.0	For sure?
0:14.0	Get answers you can trust from Salesforce at AskMoreOfAi.com.
0:24.0	Welcome to Tech News Briefing.
0:26.0	It's Tuesday, August 22nd.
0:28.0	I'm Zoe Thomas for the Wall Street Journal.
0:31.0	In an effort to revive the US semiconductor industry,
0:35.0	the Biden administration has launched one of the most significant acts of government intervention since World War II.
0:42.0	It's spending billions of dollars to boost chip manufacturing.
0:46.0	And it's relying on masters of the free market to decide where that cash should go.
0:52.0	I am not an expert in semiconductors.
0:55.0	What I'm bringing to the team is a knowledge of how do you create the right evaluation to make decisions as to where to put your money.
1:05.0	So the aspect of ineffect creating within commerce, like a mini private equity firm.
1:11.0	On this episode, we're going to learn about the Wall Street insiders overseeing this effort.
1:16.0	And what it means for the future of the US chips industry.
1:21.0	Starting with some other semiconductor news,
	...

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