U.S. Chip Manufacturing Could Triple in Less Than a Decade: 3 Artificial Intelligence (AI) Stocks Set to Benefit
For the first time in a long while, the United States is serious about increasing domestic semiconductor ("chip") manufacturing. For years, the U.S. has been hyper-reliant on Taiwan for chip production; however, the threat that China will seek to reunify with the island, potentially by force, makes this a massive economic risk.
Because of this, the U.S. introduced the CHIPS and Science Act, which provides monetary incentives to companies that increase manufacturing capacity domestically.
The Semiconductor Industry Association (SIA) recently released a report predicting that domestic production capacity will triple by 2032. This is a gigantic boon, considering that U.S. capacity only increased by 11% from 2012 to 2022. The SIA reports 83 new endeavors, $447 billion in investments in 25 states, and over 50,000 jobs created since the CHIPS Act was introduced in 2020.
Source Fool.com
