Product Management Specialist || Component Lifecycle Management Expert || WFE || Semiconductor Capital Equipment || Semiconductor Strategy Innovator || IIT Bombay #ProductManagement #Semiconductors #ComponentLifecycle
🌟Powering Progress: The Impact of the US Chips and Science Act in the Semiconductor Industry:🌟 Amidst ongoing challenges in the global economy, the semiconductor sector stands as a beacon of innovation and growth, propelled by forward-thinking legislative initiatives such as the CHIPS and Science Act of 2022 and the Building Chips in America Act of 2023. Here's a snapshot of the data-driven transformations shaping the semiconductor landscape: 1️⃣ Impact of Legislative Acts: The CHIPS and Science Act provided $52 billion in subsidies, driving $166 billion in investments and job growth within a year. This includes significant investments from industry giants like Intel, TSMC, Micron, and GlobalFoundries, with new fabs and expansions planned across the U.S. 2️⃣ Rise of New Fabs: By 2025, 67 new fabs or fab expansions are set to begin construction, signaling a major leap forward in domestic manufacturing capacity. Notable developments include Intel's investment in Arizona and Ohio, TSMC's expansion in Phoenix, and Micron's megafab in New York. 3️⃣ Investments in Education: Recognizing the importance of a skilled workforce, institutions like Purdue University, Arizona State University, The Ohio State University, and the University of Illinois Urbana-Champaign have launched semiconductor-focused programs. Samsung's apprenticeship program at Austin Community College further enhances skill development. 4️⃣ Job Creation: The semiconductor industry is poised to add 115,000 jobs by 2030, with increasing interest among students and young professionals. Applications at semiconductor companies surged nearly 80% between 2022 and 2023, reflecting growing opportunities and demand. Amidst this seismic shift, we are compelled to ask: What groundbreaking innovations will emerge as the semiconductor industry surges forward, shaping our world in ways we are yet to imagine? 💡❓️ #SemiconductorIndustry #CHIPSAct #Innovation Pictue Source: CSIAC