Semiconductor Surge: CHIPS Act Powers US Tech Revival

The Chips Act was born out of a desire to give the US economy a boost following the pandemic and to improve its competitiveness profile on the global stage. 

Thanks to the investments, by 2030, the US will probably produce around 20% of the world's most advanced chips, up from zero percent today.

Last week President Biden visited Syracuse, NY, to tout a massive investment in the local economy. But this was not just any investment – it was $6.1 billion provided by the CHIPS and Science Act to Micron Technology, which plans to spend $100 billion building a manufacturing campus in Syracuse's northern suburbs, as well as a factory in Boise, Idaho.

The investment will have significant impacts on Syracuse, which is hopeful it will revive the local economy. It has a larger significance as well: it is the latest in a series of federal grants doled out under the Chips Act that has spur