U.S. Congressional records or major news outlets

U.S. Semiconductor Industry Boosted by CHIPS Act, $327 Billion Investment

May 8, 2024, 09:11 AM

The U.S. government's incentives under the CHIPS Act have attracted significant investment from major chipmakers, including TSMC, which has reversed its initial decision and now plans to manufacture its most advanced chips in the U.S. Investments announced by chip companies and their supply chain partners are expected to total $327 billion over the next decade. This investment aims to increase U.S. production of the world's most advanced chips from zero to approximately 20% by 2030, as noted by Commerce Secretary Raimondo. However, some experts suggest that further legislative measures, possibly a CHIPS Act II or III, may be necessary to fully revitalize the U.S. semiconductor industry and enhance its competitiveness against foreign inducements.