EU adopts Chips Act to usher in a semiconductor ‘renaissance’

News Snapshot:

The EU council has finally adopted the Chips Act. Meanwhile, Germany plans a €20bn investment in semiconductors as it woos foreign chipmakers. After more than a year of deliberations, the EU has finally adopted the Chips Act after the European Council approved the regulation today (25 July) to make the bloc a world leader in chip production and research. First proposed by the European Commission last year, the act aims to increase the EU’s share of global chip production from 10pc to at least 20pc by the end of the decade. Lawmakers hope this will strengthen the EU semiconductor sector...