US semiconductor industry bonanza: What's in the CHIPS bag?

- The law provides for a four-year, 25 per cent tax credit that runs up to US$24 billion to encourage chipmakers to open more plants in the US.

- The law also seeks to create regional technology hubs to mobilise underserved communities where a labour force can be tapped for fields such as robotics and cyber security. But the US gets most of its chips from abroad. About 92 per cent of the world's most advanced chips are made in Taiwan. The rest come from South Korea.

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