The Biden administration is allocating $39 billion to revitalize semiconductor manufacturing in the U.S. as part of the CHIPS and Science Act.

Current U.S. global market share in chip manufacturing has declined to 12%, triggering initiatives to enhance domestic production capacity.

High costs and competitive challenges hinder U.S. chipmakers from building new facilities, exemplified by Onsemi's deliberation over expansion locations.

The complexity of semiconductor supply chains, illustrated by Onsemi's silicon carbide chip production, underscores the impracticality of complete U.S. self-sufficiency in chip making.

Efforts are underway to build semiconductor facilities in Phoenix and to increase U.S. production to 20% of global leading-edge chips by 2030.

Intel has received the largest funding grant to date, up to $8.5 billion, and pledges a $100 billion investment in chip facilities over five years.

The Department of Commerce is set to announce further funding for additional chipmakers, including Samsung and Micron Technology, as part of the strategy to boost U.S. manufacturing.