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The US is spending more money on chip manufacturing construction this year than the previous 28 years combined

The CHIPS Act is crushing expectations

A recent tweet by Martin Chorzempa, Senior Fellow at the Peterson Institute, called attention to the surge and illustrated the meteoric spending growth of the last few years. The construction growth began in 2021, but its explosive boom is due to a massive boost in funding from the CHIPS and Science Act, the Biden administration's $280 billion spending package passed in 2022. Companies including Intel, Samsung, and Micron have all received billions of dollars to build new manufacturing plants in the United States.

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