Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Colombia: President Gustavo Petro: Trump's insult to myself and Colombia is no longer aimed at achieving an effective counter-drug strategy
Trump cancels Putin meeting, says "didn't feel right"
Al Mayadeen's correspondent in Caracas: The United States attacks another alleged drug-trafficking ship off the coast of Colombia in the Pacific Ocean
Palestinian official urges world to force 'Israel' to comply with ICJ ruling: AFP
Israeli media says Knesset approved bill to annex in West Bank in preliminary reading
Kremlin: As part of strategic nuclear force exercise, Cruiser Bryansk launched Sineva ballistic missile from Barents Sea.
Kremlin: Yars Intercontinental Ballistic Missile launched from Plesetsk Cosmodrome at Kura test site in Kamchatka.
Kremlin: Strategic nuclear forces exercise took place under Putin's leadership.
Lebanese MP Imad Al-Hout, following his meeting with the Grand Mufti of the Republic: Lebanon is the last country to move toward peace and normalization [with "Israel"]
Al Mayadeen's correspondent in South Lebanon: One martyr reported in Israeli drone strike targeting motorcycle in Ain Qana.

France to allocate $3.1bln of state aid to microchips factory

  • By Al Mayadeen English
  • Source: Agencies
  • 5 Jun 2023 23:10
3 Min Read

The state aid will go toward a 7.5-billion-euro project declared last year and to be managed by European multinational STMicroelectronics and US company GlobalFoundries.

  • x
  • A new type of 300 millimeter wafer with semiconductor chips and finished microchips from the semiconductor German manufacturer Bosch (AFP)
    A new type of 300-millimeter wafer with semiconductor chips and finished microchips from the German manufacturer Bosch (AFP)

French officials announced on Monday that they are investing 2.9 billion euros ($3.1 billion) of public money into a microchip factory, in an attempt to compete in a lucrative market. 

Both the US and Europe have passed so-called Chips Acts as fears swell over China gaining leverage in the tech market. Chips, or semiconductors, are intrinsic to every electronic device, ranging from smartphones to electric cars. 

France's economy ministry called the state aid investment the biggest subsidy the ministry has offered since 2017. The state aid will go toward a 7.5-billion-euro project that was declared last year and is to be managed by European multinational STMicroelectronics and US company GlobalFoundries.

According to the French Ministry, the project, which lies in the town of Crolles near Grenoble in southeastern France, is bound to boost European production capacity by nearly 6% by 2028.

The European Chips Act already is targeting 43 billion euros of investment and aims for the EU to produce 20% of the world's chips by 2030.

Following the disruption of global supply chains during the Covid pandemic, which led to dramatic shortages of various products, especially semiconductors, the EU moved toward boosting local manufacturing of the critical tech component.

Related News

US secretly putting trackers in AI chip shipments to China: Reuters

China warns foreign-made chips and software may enable data theft

Read more: Scholz, Macron want "Buy European Act" to counter US trade hegemony

'100% protectionism'

The US Chips Act is one of several acts with the objective to direct hundreds of billions of dollars to US companies at the expense of foreign competitors.

In August last year, President Joe Biden signed a multibillion-dollar bill into law to boost domestic semiconductor and other high-tech manufacturing sectors that US leaders fear will be dominated by China.

The Chips and Science Act includes approximately $52 billion in funding to promote the production of microchips, the tiny but powerful and relatively difficult-to-manufacture components at the heart of almost every modern piece of machinery.

China has previously denied seeking to seize global supply lines and condemned the US Chips Act as "100-percent protectionism". 

On May 22, Chinese Foreign Ministry Spokesperson Mao Ning announced that Chinese authorities have reportedly banned critical infrastructure operators from buying chips manufactured by US tech giant: Micron. After the necessary investigations, it was inferred that banning Micron chips is necessary to ensure national cybersecurity. 

Read next: US losing to China in semiconductor race: Expert

  • Microchips
  • US
  • chips
  • France
  • China
  • CHIPS act
  • European Union

Most Read

Yemeni Armed Forces Chief of Staff Major General Mohammad Abd al-Karim al-Ghamari , during a ceremony in an undisclosed locations in Yemen, undate (Yemeni Military Media)

Yemeni Armed Forces mourn martyred Chief of Staff al-Ghamari

  • Politics
  • 16 Oct 2025
From previous scenes of the Qassam Brigades targeting an Israeli D9 bulldozer with a Yassin 105 shell, east of Deir al-Balah. (Military Media of the Qassam Brigades)

US knew fatal Rafah blast cause was not Hamas op., says journalist

  • Politics
  • 20 Oct 2025
Smoke and fire rises after 'Israel' launched airstrikes on the village of Ansar, Lebanon, October 16, 2025 (social media)

'Israel' launches two waves of brutal strikes on east, south Lebanon

  • Politics
  • 16 Oct 2025
Abu Hamza, the spokesperson for the Al-Quds Brigades, during a speech televised on October 22, 2025 (Al-Quds Brigades Military Media)

Al-Quds Brigades' Abu Hamza mourns leaders, vows continued resistance

  • Politics
  • 22 Oct 2025

Coverage

All
War on Gaza

Read Next

All
Pro-Palestinian activists protest at Lafayette Park across from the White House to mark the approaching one year anniversary of the Israeli war on Gaza, Saturday, October 5, 2024, in Washington. (AP Photo/Jose Luis Magana)
Arts and Culture

Jewish figures calls for sanctions on 'Israel' over Gaza genocide

Activists from the Foreign Press Association during a panel calling for press freedom in Gaza, April 11, 2025 in London, England. (X/ @FPALondon)
Politics

FPA demands Israeli court to allow int'l journalists access to Gaza

Matsapha Correctional Complex is seen in Matsapha, near Mbabane, Eswatini, Thursday July 17, 2025. (AP Photo)
Politics

Cuban man deported from US to Eswatini launches hunger strike

Russia President Vladimir Putin conducts a strategic nuclear forces exercise via videoconference from the Presidential Situation Centre at the Kremlin in Moscow, on Wednesday, October 22, 2025. (Alexander Kazakov, Sputnik, Kremlin Pool Photo via AP)
Politics

Putin oversees ICBM, cruise missile tests in strategic nuclear drill

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS