Will America's Investment in Semiconductor Chips Pay Off?
U.S. President Joe Biden holds a semiconductor during his remarks before signing an Executive Order on the economy in the State Dining Room of the White House in Washington, DC. Pool/Doug Mills/Pool/Getty Images hide caption
U.S. President Joe Biden holds a semiconductor during his remarks before signing an Executive Order on the economy in the State Dining Room of the White House in Washington, DC.
Pool/Doug Mills/Pool/Getty ImagesA new semiconductor chip plant is being built in Phoenix, Arizona.
These chips are found in popular electronics like smartphones and gaming consoles and also in cars and military weapons. During the pandemic, disruption to global supply chains created an alarming shortage of them in the U.S.
To reduce reliance on China's manufacturing, the Biden Administration passed the CHIPS Act. It allocates $52 billion dollars to build up America's semiconductor industry.
These tiny chips are expected to make a huge economic impact – one with geopolitical implications. How will that money be spent? And with all the layoffs in the tech industry, will the investment actually be worth it?
We talk about that and more with Paul Triolo, Senior Vice President for China and Technology Policy Lead at the Albright Stonebridge Group, a global strategic advisory firm; Jay Goldberg, partner at Snow Cloud Capital and author of the Digits to Dollars blog; and Ronnie Chatterji, the White House CHIPS Coordinator.
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