The European Union has given its approval for €8.1B ($8.7B)

 

The European Union has given its approval for €8.1B ($8.7B) in state aid for technology innovation projects, including chip design research.  On Thursday, the EU's executive arm announced that projects involving companies such as Airbus, ASML, and Ericsson could receive funds from 14 member countries. In total, 68 Important Projects of Common European Interest (IPCEI) were given the green light, with participation from 56 companies from 19 countries. The projects focus on R&D for tools and materials, along with chip design and manufacturing, with a focus on 5G and 6G telecoms tech, autonomous driving, quantum computing, and AI. The projects are also expected to draw €13.7B in private funding, bringing the overall investment to €22B. The initiative aims to strengthen the bloc's domestic chip-supply chain as it seeks to become a major player in advanced semiconductors and cutting-edge technologies. The EU aims to manufacture at least 20% of the world's semiconductors by 2030.