EU aims to double chip manufacturing amid growing fears about 'digital sovereignty'

Semiconductor production, as shown above in GlobalFoundries' European factory, is an extremely capital-intensive business. The European Union wants to double its chip manufacturing output to 20 percent of the global market by 2030. The goal is part of its new Digital Compass plan, announced yesterday, which aims to boost "digital sovereignty" by funding various high-tech initiatives. As well as doubling chip output, the EU also wants all households to have 5G access and gigabit internet connecti...