Overview

• The European Court of Auditors has labeled the EU Chips Act's 20% global market share target by 2030 as 'completely unrealistic.'
• Intel has indefinitely suspended its €30 billion Magdeburg factory project, eliminating over one-third of the Act’s planned investments.
• Industry forecasts predict Europe’s chip market share will reach only 8-11.7% by 2030, far below the Act's goal.
• The EU Commission directly controls just 10% of the €43 billion funding and lacks mechanisms to monitor member-state spending.
• Despite setbacks, the Act includes €400 million for a new chip-design platform and crisis-prioritization rules starting in 2028.