Lam Research President and CEO Tim Archer Testifies Before the United States Senate Commerce Committee
24 March 2022 - 05:39AM
Lam Research Corp. (NASDAQ: LRCX) President and CEO Tim Archer
testified today before the United States Senate Committee on
Commerce, Science, and Transportation for a hearing entitled,
“Developing Next Generation Technology for Innovation.” The hearing
examined a variety of topics including the correlation between
American competitiveness and semiconductors, the impact of
vulnerabilities in semiconductor supply chains and the importance
of CHIPS legislation within the U.S. Innovation and Competition Act
(USICA) of 2021 and the America COMPETES Act of 2022.
“Today’s hearing was another step forward in both tackling the
challenges and embracing the opportunities facing the United States
semiconductor industry,” said Tim Archer, president and CEO of Lam
Research. “I would like to thank Senators Cantwell and Wicker for
bringing together industry leaders and policy makers from both
sides of the aisle. U.S. leadership in semiconductor manufacturing
technology remains strong because of the innovation, drive,
and resourcefulness of American workers across the semiconductor
ecosystem. I am proud of the role that Lam Research and our
employees have played for more than four decades in setting the
pace for innovation and in maintaining U.S. leadership in the
global market.”
During the hearing, Archer spoke to several areas critical to
furthering the competitiveness and leadership of the U.S.
semiconductor industry, including the importance of an
“all-of-ecosystem” approach.
“The chip shortage we are experiencing highlights the complex
and interdependent nature of the semiconductor ecosystem and the
need for sustained investment by companies throughout the supply
chain,” said Tim Archer. “We are grateful policymakers recognize
these challenges and intend to support the industry comprehensively
through the Commerce Department’s Grant Program, established in the
CHIPS Act, as well as through important research and development
programs like the Investment Tax Credit found in the FABS Act. We
urge Congress to act quickly to pass these measures in support of
the entire domestic ecosystem.”
Archer also spoke of the importance of a collaborative
innovation strategy to enhance U.S. competitiveness. This strategy
includes leveraging existing infrastructure, like National Labs,
that have a history of driving technology development.
Additionally, Archer discussed the opportunity to establish the
National Semiconductor Technology Center, which will provide a new
pathway to sustaining U.S. technology leadership by creating
opportunities to explore new ideas and quickly transition
breakthrough technologies to the production line.
“Today, semiconductors form the foundation of our smarter,
faster, and more connected digital world. I believe it is vital
that we create a secure and resilient supply of semiconductors
while also accelerating innovation ahead of rapidly evolving
technological complexity,” said Tim Archer. “Congress recognized
the importance of both supply and innovation and is taking bold
steps to strengthen the semiconductor ecosystem through the CHIPS
Act, which will fortify our supply chain, workforce, and domestic
research and development. I believe this partnership of industry
and government will contribute to U.S. leadership in semiconductor
technology well into the future.”
Since 1980, Lam Research has played a key role 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
kind that are driving the proliferation of technology into our
everyday lives.
A full transcript of Archer’s testimony can be found here.
About Lam ResearchLam 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
devices. In fact, today, nearly every advanced chip is built with
Lam technology. We combine superior systems engineering, technology
leadership, and a strong values-based culture, with an unwavering
commitment to our customers. Lam Research (Nasdaq: LRCX) is a
FORTUNE 500® company headquartered in Fremont, Calif., with
operations around the globe. Learn more at www.lamresearch.com.
(LRCX-B)
Company Contacts:Libra WhiteMedia
Relations(510) 572-7725publicrelations@lamresearch.comRam
GaneshInvestor Relations(510)
572-1615investor.relations@lamresearch.com
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