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Chips Act secures final sign-off from EU member states

Image: European Union

Legislation, including €3.3 billion in R&I funds, will lead to semiconductor industry “renaissance”, says Spanish minister

EU governments have given the final stamp of approval to the bloc’s Chips Act, which is intended to shore up Europe’s semiconductor industry.

Proposed by the European Commission in 2022, the legislation came in response to supply chain pressures sparked by the Covid-19 pandemic, which raised concerns over dependency on Asia and the United States.

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