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The U.S. Senate approved $52 billion federal investment in the domestic semiconductor market under the CHIPS for America Act on June 8. In a similar vein, the European Commission outlined its plans in March to double the EU’s share of global chip manufacturing to account for 20% of the global output by 2030.
Global semiconductor sales have risen 29.2% year-over-year to $133.60 billion in the second quarter, ended June 30, 2021. Furthermore, the semiconductor industry is expected to become one of the most crucial industries over the long term due to its universal applications.
