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The EU is directing €525 million toward chip-design start-ups through an initiative under its Chips Act. European firms currently account for less than 1% of global chip-design revenue, according to Euronews.
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The initiative could affect competition and investment in the global semiconductor industry, which also matters to U.S. chip companies and supply chains. The article does not specify how the funds will be allocated or what U.S. effects are expected.