President Joe Biden recently signed a landmark bill to provide $52.70 billion in subsidies to boost research and production in the U.S. semiconductor industry. The bill also intends to help the industry with China’s technological and scientific prowess.
The global semiconductor industry registered a sales growth of 13.3% year-over-year to $152.50 billion in the second quarter of 2022. This also marks a 0.5% increase from the prior quarter.
