The US is spending billions to boost chip manufacturing. Will it be enough?

The US is spending billions to boost chip manufacturing. Will it be enough?

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Key Facts

  • CNN — The United States government is pulling out all the stops to boost domestic semiconductor manufacturing, injecting billions of dollars into the beleaguered sector and flexing all policy muscles available to give it a leg up over competition from Asia.
  • At the start of the year, Intel said it planned to build a $20 billion semiconductor manufacturing plant in Ohio, and groundbreaking for the new chip plant took place just last month.
  • “The US is very unlikely to increase its share of global production because even as the US brings online more fab capacity; TSMC, Intel and others are announcing fabs in other places and building them even more quickly,” said Scott Kennedy, a senior adviser at the Center for Strategic and International Studies.
  • “One of the big reasons for this is that the cost of labor is lower, and it’s just far cheaper to produce at a very massive scale, integrated circuits and chips, in those parts of the world,” Wang added.

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