Lisa Su

We are not sitting in the corner crying. We are recognizing that semiconductors are now very high priority lists on sort of all national agendas. And that is new. As nationalist agenda that is key to the security of the United States. That is definitely new. I would say 10 years ago that wasn't the case. Five years ago, maybe a little bit.

We are not sitting in the corner crying. We are recognizing that semiconductors are now very high priority lists on sort of all national agendas. And that is new. As nationalist agenda that is key to the security of the United States. That is definitely new. I would say 10 years ago that wasn't the case. Five years ago, maybe a little bit.

We are not sitting in the corner crying. We are recognizing that semiconductors are now very high priority lists on sort of all national agendas. And that is new. As nationalist agenda that is key to the security of the United States. That is definitely new. I would say 10 years ago that wasn't the case. Five years ago, maybe a little bit.

But sort of in the last few years, that's become top of mind. And what does that mean to us? Okay, so first of all, the... Investment arcs are not changing. At the end of the day, in a technology business, it's about making long-term bets. We decide what technology goes into our products like three to five years in advance. And at the end of the day, our job is to build the best.

But sort of in the last few years, that's become top of mind. And what does that mean to us? Okay, so first of all, the... Investment arcs are not changing. At the end of the day, in a technology business, it's about making long-term bets. We decide what technology goes into our products like three to five years in advance. And at the end of the day, our job is to build the best.

But sort of in the last few years, that's become top of mind. And what does that mean to us? Okay, so first of all, the... Investment arcs are not changing. At the end of the day, in a technology business, it's about making long-term bets. We decide what technology goes into our products like three to five years in advance. And at the end of the day, our job is to build the best.

So we have to keep pushing the envelope on new innovation. That doesn't change. What does change are a few things, right? And it's not even just what's happened in the last 90 days. It's been what's happened for the last few years, right? Supply chain resiliency becomes really top of mind. So when, for example, during the pandemic timeframe, that was a completely unexpected thing.

So we have to keep pushing the envelope on new innovation. That doesn't change. What does change are a few things, right? And it's not even just what's happened in the last 90 days. It's been what's happened for the last few years, right? Supply chain resiliency becomes really top of mind. So when, for example, during the pandemic timeframe, that was a completely unexpected thing.

So we have to keep pushing the envelope on new innovation. That doesn't change. What does change are a few things, right? And it's not even just what's happened in the last 90 days. It's been what's happened for the last few years, right? Supply chain resiliency becomes really top of mind. So when, for example, during the pandemic timeframe, that was a completely unexpected thing.

I think we talked about it then. Yes, exactly. And when that came up, it was like, people were like, why can't I get chips for cars? And it's like, well, you know what? It's because it's a nine to 12-month supply chain. And if you want to change locations, it might take several years. And you need to plan for that in advance.

I think we talked about it then. Yes, exactly. And when that came up, it was like, people were like, why can't I get chips for cars? And it's like, well, you know what? It's because it's a nine to 12-month supply chain. And if you want to change locations, it might take several years. And you need to plan for that in advance.

I think we talked about it then. Yes, exactly. And when that came up, it was like, people were like, why can't I get chips for cars? And it's like, well, you know what? It's because it's a nine to 12-month supply chain. And if you want to change locations, it might take several years. And you need to plan for that in advance.

And so we did a lot of work around the pandemic to give our supply chains more resiliency. And that's been positive. Now, the fact that, you know, advanced manufacturing is mostly in Taiwan, that's absolutely true. And that's absolutely one of the things where we don't have enough options right now.

And so we did a lot of work around the pandemic to give our supply chains more resiliency. And that's been positive. Now, the fact that, you know, advanced manufacturing is mostly in Taiwan, that's absolutely true. And that's absolutely one of the things where we don't have enough options right now.

And so we did a lot of work around the pandemic to give our supply chains more resiliency. And that's been positive. Now, the fact that, you know, advanced manufacturing is mostly in Taiwan, that's absolutely true. And that's absolutely one of the things where we don't have enough options right now.

So, you know, the focus on trying to bring more manufacturing back to the United States, I think we're all in favor of that. Like, that's a positive, right? And just put it in the resiliency category, which is... Nine to 10 years.

So, you know, the focus on trying to bring more manufacturing back to the United States, I think we're all in favor of that. Like, that's a positive, right? And just put it in the resiliency category, which is... Nine to 10 years.

So, you know, the focus on trying to bring more manufacturing back to the United States, I think we're all in favor of that. Like, that's a positive, right? And just put it in the resiliency category, which is... Nine to 10 years.

It will take— If at all. It will take certainly five to ten years. And when I say that, we're going to manufacture in the United States advanced capabilities like this year, for sure. Our latest generation server chip will go through TSMC in Arizona, but it's still small. Mm-hmm. And there's so many steps. It's such a complex supply chain that you just have to plan every step of that.

It will take— If at all. It will take certainly five to ten years. And when I say that, we're going to manufacture in the United States advanced capabilities like this year, for sure. Our latest generation server chip will go through TSMC in Arizona, but it's still small. Mm-hmm. And there's so many steps. It's such a complex supply chain that you just have to plan every step of that.