Intel and Industrial Policy in Action – WSJ
Shares of
Corp. hit the skids Wednesday after it reported growing losses on its semiconductor foundry business. Politicians of both parties tout the U.S. chip maker as a national champion, but these days it looks more like an emblem of dubious government industrial policy.
Investors are getting their first close look at Intel CEO Pat Gelsinger s ambitions to compete with
and
in chip manufacturing. They apparently didn t like what they see. The Silicon Valley giant disclosed in a securities filing that it lost $7 billion on its foundry unit last year on $18.9 billion in sales, following roughly $5 billion in losses in each of the prior two years.
via www.wsj.com
Industrial policy is stupid and doesn’t work. I thought that was settled in the 1980s.