Intel, Micron CEOs To Testify To US Senate On March 23

The CEOs of Intel Corp INTC and Micron Technology Inc MU will testify on March 23 before the U.S. Senate, Reuters reports.
The hearing would focus on vulnerabilities in semiconductor supply chains and the sector's connection with American competitiveness.
The PACCAR Inc PCAR chief will also testify at the hearing.
The U.S. presently accounted for 12% of the chip production versus 40% twenty years back.
The U.S. government had approved the $52 billion in subsidies for the semiconductor industry. The auto industry chip crisis cost $210 billion in revenue in 2021.
Intel looked to invest up to $100 billion in a leading chip-making complex in Ohio. Micron aimed to spend $150 billion over the next decade globally on leading-edge memory chips.
Price Action: INTC shares traded lower by 0.28% at $46.50 in the premarket on the last check Thursday.