While I don't like when governments give away billions to already rich people and companies, I do believe this will be good for even global economy. And I also hope similar is done in EU via 43 billion EU Chips act(s). Those two together should ensure that we have distributed chips manufacturing once again, instead of 90% of everything relying on TSMC. I have nothing against TSMC, they do great job and have made huge progress, but as recent history showed (again) putting all eggs in one basket is unwise. And at times like these it also makes it very expensive proposition. TSMC decides to raise prices 20% singlehandedly, and there's no way stopping them. But again, too bad this wasn't possible without giving away 120 billion to the likes of Intel & TSMC that are already swimming in cash.