Today, CHIPS. Tomorrow, Everything.

The CHIPS Act, signed into law in 2022, aims to revive semiconductor manufacturing in the U.S. by providing grants and incentives to companies, with Intel being the primary recipient. The U.S. has not manufactured leading-edge chips since 2017, with Taiwan and South Korea dominating the market. The Act, with $280 billion in authorized funding, is an exercise of industrial policy that could have wide-ranging effects on businesses and competition for tech-literate employees. The Act reflects a larger trend of corporations playing a geopolitical role, as nations increasingly compete through economic means. The U.S. hopes to reclaim global leadership in chip manufacturing with the Act, but challenges remain, such as the need for specialized inputs produced in other countries and a shortage of skilled workers. The success of the Act will be measured by its progress in reversing the decline of America's chip technology. [Extracted from the article]