Despite temporary blips, the semiconductor industry has witnessed a sustained increase in demand since the onset of the COVID-19 pandemic due to the extensive usage of chips in electronics, critical infrastructure, electric vehicles, and other industries.
Furthermore, increasing government and corporate spending to ramp up chip production should boost the industry’s growth in the upcoming months. The CHIPS part of the CHIPS and Science Act aims to provide domestic semiconductor manufacturers with $52 billion in subsidies to cut reliance on foreign sourcing while creating local employment opportunities.
