U.S. president Joe Biden this week signed the CHIPS Act supporting semiconductor manufacturing in the U.S., paving the way to funnel nearly US$280 billion into numerous U.S-based chip making projects. It earmarks $52 billion to spur research in and development of America’s semiconductor industry.
The bill intends to tackle the global chip shortage that resulted from the strained US-China relations, extreme weather, and the ongoing Russia-Ukraine War, aiming to reinstate local manufacturing, lower costs for Americans and bolster scientific innovation and jobs.
