The United States will triple its domestic chip manufacturing capacity by 2032, leading to a rise in its share of world chip manufacturing to 14 percent, up from about 10 percent today.
Federal subsidies and the bipartisan CHIPS Act are crucial in fueling the growth of domestic semiconductor manufacturing in the US.
The Biden administration aims to lead in technological industries by bolstering the production of advanced semiconductors, essential for various applications like artificial intelligence and autonomous vehicles.
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