According to the report coming from Bloomberg, European Union has approved as much as 8.1 billion Euros (about 8.6 billion USD) for research of advanced semiconductors. Accompanied by the 13.7 billion Euros in private funds, the total investment for boosting domestic semiconductor manufacturing in the EU is almost 22 billion Euros. As part of the European CHIPS Act, the project aims to develop Europe as the world's semiconductor powerhouse, with as much as 20% of all semiconductors produced in the EU by 2030. This ambitious goal is backed by state subsidies, as well as investors creating private pools of funds to aid companies in creating semiconductor manufacturing facilities on European soil.

This Important Project of Common European Interest (IPCEI) on Microelectronics and Communication Technologies is an essential step for Europe's semiconductor independence. Internal Market Commissioner Thierry Breton noted, "In a geopolitical context of de-risking, Europe is taking its destiny into its own hands. By mastering the most advanced semiconductors, the EU will become an industrial powerhouse in markets of the future." Companies like Intel, Infineon, STMicroelectronics, GlobalFoundries, and Wolfspeed announced European investments, with TSMC considering a production facility in Germany. German Economy Minister Robert Habeck has noted that Germany has 31 projects in 11 regions, adding, "We can thus increase resilience across Europe in this important field and secure value creation and jobs."