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Italy Earmarks $4.4 Billion to Boost Semiconductor Industry

  • Fund targets strategic independence with investments to 2030
  • EU set 2030 target to produce 20% of world’s semiconductors
TSMC Headquarters and Museum Ahead of Earnings Results
Photographer: I-Hwa Cheng/Bloomberg

Italy will invest over 4 billion euros ($4.4 billion) to develop the domestic semiconductor industry, as it seeks to support companies transitioning to greener technologies.

Prime Minister Mario Draghi’s government approved a new fund which will allocate 150 million euros in 2022 and 500 million euros each of the following years until 2030 as part of a new decree law which goes into effect Wednesday.