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Western Digital Applauds Passage of Bipartisan Innovation Act
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Positive)
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Rhea-AI Summary
Western Digital (NASDAQ: WDC) supports the passage of the Bipartisan Innovation Act (BIA), which aims to strengthen semiconductor technology supply chains and enhance national security. CEO David Goeckeler emphasized the Act's role in reinforcing U.S. leadership in the memory and data storage sectors. The company is committed to collaborating with the Biden administration to boost domestic semiconductor advancements, particularly in memory and data storage technologies, which are vital for economic growth and innovation.
Positive
Support for the Bipartisan Innovation Act promotes strategic investments in semiconductor technologies.
Strengthening semiconductor supply chains enhances Western Digital's competitive position.
Collaboration with the Biden administration may lead to increased funding for memory and data storage sectors.
Negative
None.
SAN JOSE, Calif.--(BUSINESS WIRE)--
Western Digital (NASDAQ: WDC) applauds the passage of the Bipartisan Innovation Act (BIA). The BIA will help accelerate strategic investments in the next generation of advanced technology innovation and development. Congress with the support and leadership of President Biden and Commerce Secretary Raimondo have delivered concrete action to strengthen our semiconductor-technology supply chains.
“We are pleased that Congress and the Biden administration have made the Bipartisan Innovation Act a priority,” said David Goeckeler, CEO, Western Digital. “Passage of this legislation is an important step towards strengthening the United States’ leadership in the memory and data storage sectors of the semiconductor industry.”
Western Digital has supported President Biden’s and Congress’s work to craft targeted investments into semiconductor-technologies, like memory and data storage, that are the building blocks of economic and national security. We look forward to working with Secretary Raimondo and the administration to strengthen domestic memory and data storage development and manufacturing. These investments are critical to advancing American technological leadership and innovation.
About Western Digital
Western Digital is on a mission to unlock the potential of data by harnessing the possibility to use it. With Flash and HDD franchises, underpinned by advancements in memory technologies, we create breakthrough innovations and powerful data storage solutions that enable the world to actualize its aspirations. Core to our values, we recognize the urgency to combat climate change and have committed to ambitious carbon reduction goals approved by the Science Based Targets initiative. Learn more about Western Digital and the Western Digital®, SanDisk® and WD® brands at www.westerndigital.com.
T. Peter Andrew Western Digital Investor Relations
1-800-695-6399
investor@wdc.com
Source: Western Digital
FAQ
What is the Bipartisan Innovation Act and its significance for Western Digital (WDC)?
The Bipartisan Innovation Act aims to strengthen semiconductor supply chains, which is vital for Western Digital's leadership in memory and data storage.
How does the Bipartisan Innovation Act affect investments in semiconductor technology for WDC?
The Act is expected to accelerate investments in semiconductor technologies that Western Digital relies on for its operations.
What statement did Western Digital's CEO make regarding the Bipartisan Innovation Act?
CEO David Goeckeler expressed support for the Act, highlighting its importance for U.S. leadership in the semiconductor industry.
What are the expected benefits of the Bipartisan Innovation Act for the U.S. semiconductor industry?
The Act is anticipated to strengthen supply chains and boost innovation, benefiting companies like Western Digital in the memory and data storage sectors.
