Lam Research Corporation
WASHINGTON, March 23, 2022 (Globe Newswire) — Tim Archer, President and CEO of Lam Research Corp. (NASDAQ: LRCX), testified today before the United States Senate Committee on Commerce, Science and Transportation for a hearing titled Technology for “Development Next Generation” innovation. The hearing examined a range of topics, including the relationship between US competition and semiconductors, the impact of vulnerabilities in semiconductor supply chains, and the importance of CHIPS legislation within the US Innovation and Competition Act (USICA) of 2021 and the US COMPETES Act of 2022.
“Today’s hearing was another step forward in tackling the challenges and embracing the opportunities facing the United States semiconductor industry,” said Tim Archer, president and CEO of Lam Research. “I want to thank Senators Cantwell and Vickers for bringing together industry leaders and policymakers from both sides of the aisle. American leadership in semiconductor manufacturing technology, due to the innovation, drive and resourcefulness of American workers in the semiconductor ecosystem remains strong. I am proud of the role that Lam Research and our employees have played for more than four decades in setting the pace of innovation and maintaining American leadership in the global marketplace.”
During the hearing, Archer spoke on a number of areas critical to advancing the competitiveness and leadership of the US semiconductor industry, including the importance of an “all-of-ecosystem” approach.
“The chip shortages we are experiencing highlights the complex and interdependent nature of the semiconductor ecosystem and the need for continued investment by companies across the entire supply chain,” said Tim Archer. “We are grateful that policymakers recognize these challenges and support the industry through important research and development programs, such as the investment tax credits found in the FABS Act, established in the CHIPS Act, through the Department of Commerce Grants Program. We urge Congress to act quickly to pass these measures in support of the entire domestic ecosystem.”
Archer also spoke about the importance of a collaborative innovation strategy for increasing American competitiveness. This strategy involves leveraging existing infrastructure, such as National Labs, which has a history of driving technology development. Additionally, Archer discussed the opportunity to establish a National Semiconductor Technology Center, which would provide a new avenue to maintain American technology leadership by creating opportunities to explore new ideas and quickly transform breakthrough technologies into the production line. Will do
“Today, semiconductors form the foundation of our smarter, faster and more connected digital world. I believe it is vital that we build a secure and flexible supply of semiconductors, as well as rapidly evolving technology. Accelerate innovation before complexity,” said Tim Archer. “Congress recognizes the importance of both supply and innovation and is taking bold steps to strengthen the semiconductor ecosystem through the CHIPS Act, which strengthens our supply chain, Strengthen workforce and domestic research and development. I am confident that this industry-government partnership will contribute to US leadership in semiconductor technology in the future.
Since 1980, LAM research has been instrumental in contributing to the extraordinary pace of innovation in the semiconductor industry. Its market-leading products and services enable customers to build smaller, faster and more powerful electronic devices—the way technology continues to permeate our daily lives.
The full transcript of Archer’s testimony can be found here.
About Lam Research
LAM Research Corporation is a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry. Lam’s equipment and services allow customers to build smaller and better performing appliances. In fact, almost every advanced chip today is manufactured with LAM technology. We combine superior systems engineering, technology leadership and a strong value-based culture with an unwavering commitment to our customers. Lam Research (Nasdaq: LRCX) is a Fortune 500® company headquartered in Fremont, California, with operations around the world. Learn more at www.lamresearch.com. (LRCX-B)