EU Chips Act comes into force to ensure supply chain resilience

The EU Chips Act has officially come into force today, putting in place a comprehensive set of measures to shore up the European Union’s semiconductor supply chain resilience and reach its target to double its current global market share to 20% in 2030.

The act is made of three pillars, the first of which is a Chips for Europe Initiative, a program that aims to bridge the gap between research and innovation by promoting advanced semiconductor technologies by European businesses.

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