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EU’s Chips Act to Include Less Than 15% in Direct Funding

A 300 millimetre silicon wafer at a semiconductor plant in Dresden, Germany.
A 300 millimetre silicon wafer at a semiconductor plant in Dresden, Germany.Photographer: Liesa Johannssen-Koppitz/Bloomberg

The European Union’s proposed Chips Act will include more than 5 billion euros ($5.7 billion) of funding from the bloc’s own budget, according to people familiar with the matter, amounting to less than 15% of what senior officials say the measure will tally. 

Roughly 1.65 billion euros will come from the EU’s research budget, 1.65 billion euros will be directed from its digital program and another 1.3 billion euros will be taken from an existing public-private partnership that funds key digital technologies.