https://techmonitor.ai/silicon/european-chips-act-tsmc-intel > The European Union has unveiled its new European Chips Act, a €43bn investment plan which aims to restore the continent’s place as a leading hub of semiconductor innovation and build its chip manufacturing capabilities in the face of the ongoing global chip shortage. The plan is the latest part of the EU’s bid for digital sovereignty, but experts have questioned whether it will have sufficient funding behind it to help Europe compete with the US and Asia, and if this investment will be directed in the right areas. > Europe wants to double its share of the global chip manufacturing market from 10% to 20% by 2030, and hopes the act will help achieve this aim. The EU and member states are committing an initial €11bn to fund the plan, with the rest of the money set to come from additional contributions by member states and the private sector.