Former Intel CEO Pat Gelsinger supports the creation of a US sovereign wealth fund to enhance American technological leadership. He argues that private markets fail to provide the necessary long-term capital for scaling significant breakthroughs in sectors such as semiconductors, AI, and quantum computing. By endorsing Trump's proposal, Gelsinger believes a sovereign wealth fund could secure America’s position in critical technologies, aid early-stage companies, and ensure domestic control of innovations. He criticizes Washington's current strategy for not effectively promoting national competitiveness and strategic industries.
Gelsinger emphasized that while American companies are making significant breakthroughs in technology, the challenge lies in scaling these innovations, which requires patient, long-term capital typically unavailable from traditional financing.
Gelsinger stated, "Washington's haphazard approach to fueling national competitiveness and strategic industries isn't cutting it," underscoring the need for a more structured funding approach.
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