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U.S. Govt pushes Nvidia and Apple to use Intel's foundries
It's in Washington's best interests that American tech giants use Intel for their chip supply.
After this, Raimondo (via CNBC) went on private meetings with some public market investors, including shareholders of tech giants Nvidia and Apple, encouraging them to push their companies to use U.S. foundries to produce AI chips. However, recent developments revealed that Intel Foundry Services (IFS) is struggling to gain traction, causing the company to lose $1.6 billion and practically making its stock price fall by 30% overnight. Many leading American tech companies, like Nvidia, AMD, Apple, Amazon, and Google, design their chips but use foreign foundries like TSMC for their supply despite the distance and geopolitical risk brought about by its location.
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