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
Palestinian media: Reports of stabbing operation in occupied al-Quds.
Israeli media: Sirens blare in Arava in South, near Ramon Airport.
Egyptian PM Mostafa Madbouli: Egypt is targeted in plans to redraw regional map
AEOI Chief Mohammad Eslami: Our presence in IAEA General Council and fact-checking helped in preventing unilateral rhetoric that aims to portray Iran as an unregulated country
AEOI Chief Mohammad Eslami: We witnessed new, stricter stances from European countries since signing new agreement with IAEA
Saree: Our UAV force targeted the so-called Ramon Airport in the Umm al-Rashrash area in southern occupied Palestine
YAF spokesperson Brigadier General Yahya Saree: Our rocket force carried out an operation with a Palestine 2 hypersonic ballistic missile targeting a sensitive target in the occupied Yafa area
Trump administration clears first Ukraine arms aid package paid for by allies: Reuters, citing sources
Saudi Crown Prince Mohammad bin Salman receives Secretary of Iran's Supreme National Security Council Ali Larijani at his office in Al-Yamamah Palace
Wakim: Surrender is not in our dictionary, and it is not true that "Israel" can implement its project in Lebanon and the region

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

Pro-"Israel" conservative Charlie Kirk shot during Utah speech

American far-right activist Charlie Kirk shot dead during Utah speech

  • US & Canada
  • 11 Sep 2025
Uprising against Volker Turk at the Human Rights Council over Gaza.

Uprising against Volker Turk at the Human Rights Council over Gaza

  • Politics
  • 12 Sep 2025
A screengrab from the ad played on Fox News. (X Screengrab)

Fox airs ad warning Trump not to let Netanyahu 'play' him on Gaza

  • US & Canada
  • 11 Sep 2025
Lapid: Egypt’s Arab Force plan a 'severe blow' to normalization

Lapid: Egypt’s Arab Force plan a 'severe blow' to normalization

  • Palestine
  • 14 Sep 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
Britain Trained Israeli Soldiers Involved in Gaza War: Declassified
Europe

UK training of Israeli officers sparks outcry over Gaza war complicity

Luxembourg's Prime Minister Luc Frieden arrives for an EU summit at the European Council building in Brussels, Thursday, June 26, 2025. (AP Photo/Omar Havana)
Politics

Luxembourg to recognize Palestine at UN summit next week

European Union flags flap in the wind outside EU headquarters in Brussels, Wednesday, Sept. 3, 2025 (AP)
Politics

EU exec. branch to adopt new sanctions against 'Israel' on Wednesday

Charlie Kirk killing suspect faces charges in Utah court hearing
US & Canada

Charlie Kirk murder suspect faces formal charges in Utah court hearing

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