EC official sees big private chip investment

The European Chips Act has led to “promises for investments of the order of €100bil to expand the manufacturing capacity within the European Union by 2030”, EC's Skordas said. — Reuters

ANTWERP: The European Chips Act is on track to help attract more than €100bil (US$108.41bil) worth of private investment to the European semiconductor industry by 2030, a European Commission official says.

Thomas Skordas was speaking at a conference in Antwerp about the future of the initiative, which is Europe’s answer to similar programmes in the United States and Japan and to China’s support for its domestic computer chip makers.