The ink had barely dried on Joe Biden's signature on the CHIPS-Plus Act when a wave of unfortunately timed headlines hit the news, conveying turbulence in the semiconductor industry over the past few months marked by waning demand, inventory piling up, and raw materials still in short supply.
As a period of uncertainty dawns on semiconductor companies, it is worth remembering that the CHIPS-Plus package represents a long-term investment in a critical industry, one designed to ride the ups and downs of a highly cyclical sector. So while the CHIPS-Plus Act could very well go down as a future case study in federal foolishness, a lack of present-day demand will not be the reason.
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