The US, where semiconductors were invented, was producing 37% of the world's supply of chips as recently as the 1990s. But only about 12% of all computer chips are produced domestically now.
That decline in domestic chip production was exposed by the worldwide supply chain crisis, and that has led to calls for reshoring microprocessor manufacturing in the US. With the federal government spurring them on, the likes of Intel, Samsung, and TSMC have unveiled plans for a flurry of new US fabrication plants. (Qualcomm, in partnership with GlobalFoundries, also said it would invest $4.2 billion to double chip production in its Malta, New York fabrication facility.)
Just last week, chipmaker Micron Technology announced it will spend $20 billion to build what it called the largest-ever US semiconductor factory ever, and may spend up to $100 billion over 20 years to expand it.
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In announcing the new fabrication plant projects, the semiconductor manufacturers, at least in part, credited the CHIPS and Science Act of 2022 signed into law by President Joe Biden in August. The legislation provides $52.7 billion for manufacturing incentives to boost microchip production in the US. Chip manufacturers can begin seeking to use tax breaks and funds to offset construction and other costs beginning next year.
Essentially, the CHIPS Act is an attempt to increase the percentage...
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