Weebit Nano CEO warns Australia risks 'big strategic mistake' on semiconductors
Coby Hanoch says Australia must lift semiconductor investment to remain competitive in AI and advanced computing, as his company secures its biggest licensing deal to date.
The chief executive of ASX-listed semiconductor company Weebit Nano is warning the Australian government must dramatically lift its investment in the global chip industry or risk undermining the economy as AI demand accelerates.
Israel-based CEO Coby Hanoch told Capital Brief Australia played a critical role in funding Weebit’s early development through the ASX, but is now falling behind other nations that are aggressively backing domestic and strategic semiconductor capabilities.
“Without semiconductors, you can't do anything,” said Hanoch. “Basically your economy collapses the moment that you take semiconductors out.
“I don't have to tell you what's happening to the world today with AI. And AI is semiconductors. I mean, that's what it is.”
