US chip production on track for $52B government investment after Apple lobbying

The US Senate has approved $52B in funding to boost US chip production, as part of an effort to address the global chip shortage, and to reduce dependence on China. Apple was one of the companies lobbying for the move.

In total, the US Innovation and Competition Act provides almost $250B in funding for US manufacturing, with $52B of it specifically allocated to chip fabrication. However, it is as yet unclear whether it will also pass in the House …

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