The article discusses President Biden’s efforts to revive the U.S. microchip manufacturing industry through the CHIPS and Science Act, which provides $52 billion in subsidies and tax credits for semiconductor companies. The key points are: 1) The U.S. share of global chip manufacturing has declined from 37% in 1990 to 12% today, while Asia’s share has risen to 79%. 2) The chip shortage has highlighted the risks of relying on foreign suppliers, prompting calls for domestic production. 3) The CHIPS Act aims to incentivize companies like Intel, Samsung, and TSMC to build new chip factories in the U.S. 4) Challenges include high costs, skilled labor shortages, and competition from Asia. 5) Success could boost U.S. economic and national security by reducing dependence on foreign chips. 6) Critics argue the subsidies may not be enough to offset Asia’s advantages. The article concludes that while the CHIPS Act is a step in the right direction, it remains to be seen if it can truly revive U.S. chip manufacturing.