U.S. Chip Manufacturing Could Triple in Less Than a Decade: 2 Stocks That Could Follow Suit

The U.S. government has focused significantly on the country's position in the semiconductor market, and that's not surprising -- chips play a critical role in multiple industries, ranging from automotive to smartphones, computers, and artificial intelligence (AI).

A key effort: the CHIPS and Science Act, which was enacted in 2022, has accelerated investments in the U.S. semiconductor industry. As a part of this program, the U.S. government has awarded nearly $30 billion in grants and $25 billion in loans to seven companies. Thanks to these massive investments, semiconductor manufacturing capacity in the U.S. is set to triple by 2032, growing an estimated 203% in less than a decade, according to a report by the semiconductor Industry Association and Boston Consulting Group.

Let's take a closer look at two semiconductor companies that are beneficiaries of the CHIPS Act. Both have already received assistance from the U.S. government, are growing at a terrific rate, and could deliver huge upside by 2032 that could match the jump in U.S. semiconductor spending.

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Source Fool.com