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The CEOs of Intel and Micron have appeared before a US senate committee urging the Congress to deliver financial incentives to chip manufacturers by passing the [tortured acronym alert] CHIPS for America act. Intel CEO Pat Gelsinger believes the bill is critical to protect the future of the US semiconductor industry.Gelsinger (via Reuters) said the passing of the Creating Helpful Incentives to Produce Semiconductors (CHIPS) for America Act is vital to ensure the future of US-based chip manufacturing. Gelsinger cited the importance of reducing reliance on chipmakers in Asia and protecting suppl...

(Bloomberg) -- The chief executives of some of the largest U.S. chip manufacturing companies urged Congress to pass legislation that includes $52 billion in incentives for their industry, calling it “essential” to maintaining competitiveness with China and other countries.

Subsidies are coming -- and there's a potential alliance between Intel and Nvidia brewing.

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Press release content from Globe Newswire. The AP news staff was not involved in its creation.