The semiconductor industry has been the recipient of enormous investments from the public and private sectors in response to the global chip shortage. Due to the increasing applications of semiconductors in automobiles, industries, data centers, and electronic gadgets, the industry has been in the limelight since last year. And the global semiconductor industry is expected to grow 10% year-over-year to $600 billion this year.
The U.S. government has been supporting the growth of the domestic semiconductor industry through investments and incentives. The House of Representatives has passed the CHIPs Act, which includes $52 billion in investments to incentivize domestic semiconductor manufacturing, design, and research. The bill is now awaiting passage in the U.S. Senate.
