The Biden administration laid out an ambitious new goal for the US: produce 20% of the world’s most advanced semiconductor chips by the end of the decade. It currently makes 0% of the so-called leading edge logic chips that are considerably more powerful than older-generation semiconductors, making them crucial for everything from mobile phones to AI to quantum computing. The legislation allows the White House to spend $50 billion in taxpayer dollars — $39 billion specifically earmarked for manufacturing — to try and help reignite American manufacturing in the years ahead.