The EU Chips Act just received its final approval
, the Chips Act aims to use €43 billion in investments to increase the EU's cut of microchip production to 20 percent in 2030 — it currently sits at about 10 percent. The Council of the European Union also hopes it will"attract investment, promote research and innovation and prepare Europe for any future chip supply crisis." The, led by smartphones, servers, data centers, and storage applications.
In approving the Chips Act, the EU might remove some of its reliance on foreign entities, like China, to produce semiconductors."With the Chips Act, Europe will be a frontrunner in the world semiconductors race," Héctor Gómez Hernández, Spanish Minister for Industry, Trade and Tourism, said about the development."We can already see it in action: new production plants, new investments, new research projects.
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