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Chips Act Boosts U.S. Semiconductor Manufacturing with $53 Billion Initiative, TSMC Involved, Market Share to Reach 14% by 2032

Jun 3, 2024, 12:01 PM

The Chips Act is making significant strides, according to industry experts and reports. The $53 billion initiative aims to bolster U.S. semiconductor manufacturing, with grants focusing on cutting-edge chip factories that require substantial capital investments. The Boston Consulting report projects that the U.S. share of global chip production will grow from zero to 28% in the advanced chip sector. Overall, the U.S. market share in global chip production is expected to increase modestly from 12% in 2020 to 14% by 2032. However, the early stages of the Chips Act have faced challenges, including competition from overseas and the high costs associated with chip manufacturing. TSMC, the world’s largest contract chipmaker, is a significant player in this landscape. A veteran semiconductor investor has noted the effectiveness of the Chips Act in driving demand for U.S.-made chips.