Semi: Brussels should have a bigger semiconductor budget of its own

The semiconductor budget of the European Commission should quadruple, industry body Semi advises, as the EU Chips Act 2.0 is being drafted. A bigger Commission budget would help set up projects that fill in gaps in the European semiconductor strategy. Currently, member states provide most of the EU Chips Act funding, and these projects tend to align primarily with national interests.

The Commission contributed about 4.5 billion euros to the 43-billion-euro EU Chips Act budget, Reuters reports. Semi advocates allocation of 20 billion euros to Brussels.