RNECF - Intel in talks to serve as foundry for auto chip companies amid shortage

Intel (INTC) is in talks to manufacture automotive chips to help alleviate the global chip shortage.According to a Reuters interview with CEO Pat Gelsinger, Intel is talking to automotive chipmakers to produce those chips within Intel's factory network with the goal of reaching chip production within six to nine months.Earlier today, Gelsinger was among the semiconductor and automotive executives meeting with the Biden administration to discuss domestic production and the global shortage.Gelsinger didn't name names but the majority of auto chipmakers outsource at least some of their fabrication to foundry giant TSMC, which is running at over 100% capacity. Auto chipmakers include NXP Semiconductor ([[NXPI]] -1.1%), ON Semi ([[ON]] -1.6%), Infineon (IFNNY), and Renesas (RNECF), which recently experienced a fab fire that paused those production lines for up to three months.Last month, Intel revealed plans to invest $20B in two new American chip fabs with the goal to become a global

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Intel in talks to serve as foundry for auto chip companies amid shortage