A semiconductor shortage brought on by the continuous COVID-19 pandemic has become detrimental to a wide range of industries, prompting President Biden to launch an investigation into how to resolve the problem.
President Biden has already signed an executive order that started a 100-day review of the semiconductor production pipeline, so that alternatives and strategies can be found to alleviate the effects on the American economy. This follows a collective call from companies like Apple, Sony, AMD and Qualcomm for the president to take notice of the shortages and what it could mean for the economy in the short and long term.
The group sent a letter to the president last week, detailing how crucial these components are. “Semiconductors play a critical role in enabling the products and services that fuel our economy, contribute to American innovation, and enhance our national security. Given the central role of semiconductors, strengthening the US position in semiconductor research, design, and manufacturing is a national priority.”
As has been obvious for the last few months, this is a major reason behind the stock shortages of the Xbox Series X and PlayStation 5, as well as computer parts like GPUs, laptops and more. It’s become such an issue, that the automotive industry is now struggling, since electric vehicles require a large portion of this supply.