U.S. chip industry calls on Biden administration to fund factories
Then Vice-President Joe Biden (C) and sons Hunter Biden (L) and Beau Biden walk in then-President Barack Obama's Inaugural Parade January 20, 2009 in Washington, DC(AFP)

By Stephen Nellis (Reuters) - A group of U.S. chip companies on Thursday sent a letter to President Joe Biden urging him to provide "substantial funding for incentives for semiconductor manufacturing" as part of his economic recovery and infrastructure plans. The chief executives of major U.S. firms such as Intel Corp, Qualcomm Inc, Micron Technology Inc and Advanced Micro Devices Inc signed onto the letter. It comes as a global chip shortage has idled factory lines at Ford Motor Co and General Motors Co, with executives at the automakers predicting billions in lost profit. Tight chip supplies...