President Biden travelled to Arizona where TSMC plans to invest $40 billion in chip-making
The disorder also highlighted the importance of developing domestic production of cutting-edge semiconductors, now sourced from aThe $280 billion Chips and Science Act of 2022 — signed into law in August — includes $52 billion in subsidies to coax companies into building production plants in the U.S.
Samsung Electronics has floated the possibility that it could follow a previously announced $17 billion investment in chip production in Austin, Texas, with up to $200 billion on 11 plants in the area,The U.S. and European focus on boosting chip manufacturing, along with China's simultaneous desire to lead global tech "all point to increased semiconductor capital expenditure in the coming decade," analysts with S&P Global wrote in a recent research report.
But in the U.S., it will make for good politics, offering shovel-ready photo ops for politicians at plants that promise good-paying jobs that, by definition, won't be outsourced to China.
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