United States President Joe Biden commemorated on Friday the two years of the CHIPS and Science Act, stressing that the bill is "making sure the United States remains a world leader in AI and other technologies."
In a statement, Biden reiterated that while the US started the semiconductor trend, over time, the country's chip production share in the global market went from 40% to around only 10%. However, with the legislation, the US got back on its feet and is now on track to manufacture "nearly 30% of the global supply of leading-edge chips by 2032, up from zero only two years ago," Biden emphasized.
He went on to say that since he took office, firms announced investments in semiconductor manufacturing worth $400 billion. As a result, 115,000 manufacturing and construction jobs have been created, Biden added.
