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EU invests $590m in chips
The European Union has allocated €440 million ($494 million) in grants to startups developing commercially viable electronic chips, and €85 million ($95.5 million) to establish a European platform offering design tools, engineering support, and access to manufacturing. The total funding of €525 million ($590 million) aims to strengthen Europe’s chip industry and its ability to compete with the United States and China. The initiative comes as European chip-design companies account for less than 1% of global revenues in the sector.
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