US Government's Massive Investment in Electronics Manufacturing and Semiconductor Industry Growth

TapTechNews June 14th news, Martin Chorzempa, a senior researcher at the Peterson Institute for International Economics, tweeted today that in 2024 alone, the US government's investment in the construction of the electronics manufacturing industry exceeded the total investment from 1996 to 2020 (a time span of 24 years).

Chorzempa believes that the booming US semiconductor industry is largely due to the ambitious CHIPS and Science Act of the Biden administration.

The act, which was signed into law in 2022, is a $280 billion (TapTechNews note: currently about 1.9 trillion yuan) package aimed at reviving the US semiconductor industry.

Major companies such as Intel, Micron, GlobalFoundries, Polar Semiconductor, TSMC, Samsung, BAESystems, and Microchip Technology are all direct beneficiaries of this act.

At least according to a research report by the Semiconductor Industry Association (SIA), all these efforts seem to be paying off. The association expects that by 2032, the US will produce about 28% of advanced logic chips (manufactured using a new process of less than 10 nanometers).