Key Takeaways From White House Chip Crisis Meet

The Biden government urged the semiconductor companies for "more transparency" about their supply chains at the White House meeting on the global chip crisis, Financial Times reports.
Apple Inc AAPL, Intel Corp INTC, CEO, Microsoft Corp MSFT, Samsung Electronics Co Ltd SSNLF, Taiwan Semiconductor Manufacturing Co Ltd TSM, General Motors Co GM, Ford Motor Co F, and Micron Technology Inc MU participated in the online meeting.
The government sought information on the chip supply and demand, inventory, and different customer segments, including using tools to compel companies on any non-cooperation.
The government feared that the potential factory shutdowns in Vietnam and Malaysia could further affect chip supply chains due to the pandemic's resurgence.
TSM acknowledged actively supporting and working with stakeholders to overcome a global semiconductor crisis at the meeting, Reuters reports.
TSM expressed confidence in its capacity expansion plan, including the advanced 5nm semiconductor fab in Phoenix, Arizona, to support stability in semiconductor supplies.
Price Action: TSM shares traded higher by 0.46% at $116.72 in the premarket session on the last check Friday.