Global superpowers, led by the U.S. and EU, are fighting a technological war for semiconductor supremacy, intensifying a multi-billion dollar showdown with China.
What began as fears over China’s advances in key technological areas during the COVID-19 pandemic and subsequent global chip shortage has ballooned into a full-on war for economic security.
The first tranche of investment, around $81 billion, is already being sought from the U.S., Germany, France, the Netherlands, Japan, and India.
In total, the above countries, plus China, South Korea, the European Union, Taiwan, Spain, Italy, and the UK, pledged around $380 billion as nations fight to control the escalating demand for devices powered by AI and quantum computing.
The surge in spending is seen as a critical turning point in U.S.-China rivalry and could shape the future global economy.
