Microchips are a matter of national security. Is the Biden administration’s $280 billion bill enough to level the chip playing field?
LED light bulbs are based on a semiconductor called gallium nitride, which is basically a chip. My espresso machine, my dishwasher, they’ve all got chips.
The U.S. is certainly not lagging when it comes to inventing new and advanced chips. In fact, chip designers in the U.S. account for more than 50 percent of all semiconductor revenue globally. The issue is in the manufacturing. In 1990, the U.S. made 37 percent of the world’s chips. Thirty years later, that number has cratered to 12 percent. While the country might design some of the most advanced chips in the world, almost all the manufacturing takes place in foreign countries.
That’s a little pessimistic. That’s not including the tax credits, the last $25 billion. But the 12 percent figure is not the important figure. The important figure is that 95 percent of advanced chips now come from Taiwan. If we get a 20 percent of the advanced chips made in America, that would be a huge thing because those are the really important chips in this discussion.
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