EU pushes for Chips Act 2.0 investment as it looks set to miss global silicon production targets by a wide margin — seeks quadrupling of semiconductor investment as $50 billion initiative flounders

All the member nations of the EU have signed on to a Dutch-led coalition that wants to encourage additional investment in semiconductor manufacturing in the EU. This revision of the 2022 European Chips Act would see the EU pivot its plan to take over global production and instead target specific weaknesses in the EU’s semiconductor strategies, as per Reuters.

The EU’s Chips Act budgeted 43 billion euros ($50.4 billion) in semiconductor manufacturing, chip design, and better supply chain monitoring that…