There is now a shortage in microchip supply across the world that had first been brought about by the coronavirus pandemic but in recent months the shortage has deepened due to the Ukraine conflict. The war has brought about supply chain problems and that has been one of the major problems that the microchip industry has been facing for quite some time.
Considering how crucial microchips are, many governments, as well as companies, have been looking into the possibility of coming up with innovative ways to meet the spiraling demand. One of the major moves from the United States government has been the CHIPS Act which seeks to subsidize microchip manufacturing and is going to allocate $52 billion in total towards the same.
Transparency Market Research has done a study on the SoCs or systems on chip space and has projected that it is going to grow from a $151.8 billion industry in 2021 to an industry worth a staggering $317.8 billion in 2031. That represents a CAGR of 8.1% from 2022 through to 2031. This brings us to the subject of GBT Technologies Inc (OTCMKTS:GTCH), which may be at an early stage internet of things developer but it is also working on innovative solutions in the microchip industry.
The secret sauce of the innovative work being done by GBT centers around its multiplanar 3D integrated circuits manufacturing and design technology. The company’s Chief Technology Officer, Danny Rittman recently spoke about the importance of integrated circuits in the microchip industry. He noted that the company’s solution could be of immense use to small players to the behemoths in the semiconductor industry, all of whom may have a variety of requirements in terms of design. The company is taking a new approach that is going to help in developing a machine learning-driven integrated circuit.
