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Repealing the CHIPS Act could dramatically shrink US chip market share, analysts say
It seems unlikely a repeal will happen.
Last week, U.S. President Donald Trump called on Republican legislators to revoke the CHIPS and Science Act that was passed during the previous Biden administration, as he considers it a waste of taxpayers' money. The CHIPS and Science Act, enacted in 2022 under President Biden, is a $52 billion strategy to strengthen U.S. semiconductor manufacturing and reduce reliance specifically on Asian suppliers. However, the enactment of the law has already driven nearly $450 billion in private investment by leading semiconductor companies, including Intel, GlobalFoundries, Micron, Samsung, SK hynix, Texas Instruments, and TSMC, just to name a few.
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