Europe wants to make its own chips again. The price tag: north of €120 billion in announced investments, a figure that would have seemed fantastical just a few years ago when the continent was content to let Asia handle the silicon.
From €43 billion target to €120 billion in commitments
The foundation for all of this was the European Chips Act, adopted in July 2023 and effective that September. The original ambition was already bold: mobilize €43 billion in public-private investment to double the EU’s share of global semiconductor production from roughly 10% to 20% by 2030.
That target got blown past faster than anyone expected. By May 2026, investment commitments had exceeded €80 billion, nearly double the original goal. At their peak in 2025, total announced investments crossed the €120 billion threshold before some notable cancellations brought the trajectory back to earth.
The European Commission has approved seven state aid decisions totaling over €31.5 billion for innovative semiconductor facilities.
