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How real is America’s chipmaking renaissance?
As the Chips Act turns one, semiconductor firms have mixed feelings.
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If all goes to plan, American chip factories will be churning out 18 per cent of the world’s leading-edge chips by 2025.
PHOTO: NYTIMES
The Economist
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American chipmakers account for a third of global semiconductor revenues. They design the world’s most sophisticated microprocessors, which power most smartphones, data centres and, increasingly, artificial intelligence (AI) models.
But neither the American firms nor their Asian contract manufacturers produce any such leading-edge chips in America. Given chips’ centrality to modern economies – and, in the age of AI, to warfighting – that worries policymakers in Washington. Their answer was the Chips Act, a US$50 billion (S$67.2 billion) package of subsidies,
