What just happened? The US Senate has passed the CHIPS Act, giving the domestic semiconductor-production industry a $52 billion boost in the form of subsidies that will go toward the construction of new fabs. The long-term goal is to lessen reliance on Taiwan, especially in light of worsening relations with China, and mitigate against the worst effects of the current chip shortage—and any future ones.

US Senate passes CHIPS Act to boost domestic semiconductor manufacturing as relations with China worsen comes via ChinaTechNews.com.