Europe no longer makes any of the most advanced chips of the sort that go into data centres or smartphones .Judged by numbers alone, the eu’s new Chips Act, unveiled on February 8th, could move the needle. It is meant to generate public and private investment of more than €43bn ($49bn), about as much as a similar package working its way through America’s Congress. More than two-thirds of this money is supposed to take the form of state subsidies for new leading-edge chip-fabrication plants, or “mega fabs” thanks to a more generous interpretation of eu restrictions on state aid. The rest will go to other chipmaking infrastructure. Will Europe move help much ?
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