Germany Allocates €2 Billion to Strengthen Semiconductor Industry

The funding aims to reduce reliance on Asian suppliers and foster cutting-edge chip production under the European Chips Act.

The German government plans to invest approximately €2 billion in subsidies to support 10 to 15 semiconductor projects focused on advanced technologies.
This initiative follows setbacks, including the suspension of large-scale chip factory plans by Intel and Wolfspeed earlier this year.
The funding is part of the European Chips Act, which aims to double Europe's global chip market share to 20% by 2030.
Eligible projects must exceed current European technological standards and contribute to a sustainable microelectronics ecosystem.
Applications for the subsidies are open until January 10, 2025, with the funds expected to address growing global demand for chips driven by AI and supply chain challenges.