U.S. chip industry calls on Biden administration to fund factories

FILE PHOTO: A researcher plants a semiconductor on an interface board during a research work to design and develop a semiconductor product at Tsinghua Unigroup research centre in Beijing, China, February 29, 2016. REUTERS/Kim Kyung-Hoon/File Photo

(Reuters) - A group of U.S. chip companies on Thursday sent a letter to President Joe Biden urging him to provide "substantial funding for incentives for semiconductor manufacturing" as part of his economic recovery and infrastructure plans.

The chief executives of major U.S. firms such as Intel Corp, Qualcomm Inc, Micron Technology Inc and Advanced Micro Devices Inc signed onto the letter.