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Intel CEO Says Semiconductors Are Like Oil


President Joe Biden (left) and Intel Ceo Pat Gelsinger.

"Everything digital runs on semiconductors, and it is just essential that we build these fabs where we want them." -Pat Gelsinger

Credit: Chip Somodevilla | Getty Images

In an interview, Intel CEO Pat Gelsinger likened semiconductors to oil, suggesting that computer chips will play a central role in international relations in the decades ahead.

"Oil reserves have defined geopolitics for the last five decades. Where the fabs [semiconductor factories] are for a digital future is more important," Gelsinger said. "Let's build them where we want them and define the world that we want to be part of in the U.S. and Europe."

From CNBC
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