Billions in Chips Grants Are Expected to Fuel Industry Growth, Report Finds

Billions in federal grants through the CHIPS Act are set to significantly boost the U.S. semiconductor industry. A report from the Semiconductor Industry Association and Boston Consulting Group projects that America's global chip manufacturing share will increase from 10% to 14% by 2032. This growth is attributed to the expansion of domestic chip production capacity and the focus on advanced logic chips crucial for AI and smart technologies. Without this funding, the U.S. share could have dropped to 8%.