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The final approval of the European Chips Act

The EU Chips Act was approved by the Council of the European Union on July 25, aiming to invest €43 billion in the EU’s semiconductor sector to double its global market share from 10% to at least 20% by 2030. An amendment to the regulation was also passed to establish joint chip ventures under the Horizon Europe Plan, providing €95.5 billion for research and development in the EU until 2027.

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