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  "documentTitle": "2022 Air Street Capital The State of AI Report 2022",
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  "notes": "Includes a table summarizing the relative need for reshoring across different semiconductor device categories.",
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      "text": "The bill poses a dilemma for Korean (e.g. Samsung), Taiwanese (e.g. TSMC) and other manufacturers: if they accept US subsidies, then they must pivot away from China without backlash from Beijing, which is opposed to this “friendshoring”.",
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      "text": "The bill poses a dilemma for Korean (e.g. Samsung), Taiwanese (e.g. TSMC) and other manufacturers: if they accept US subsidies, then they must pivot away from China without backlash from Beijing, which is opposed to this “friendshoring”.\nSince passing the bill, Micron announced a $40B investment in memory chip manufacturing to increase US market share from 2% to 10%. Qualcomm will expand its US semiconductor production by 50% by 2027 and in partnership with GlobalFoundries the two will invest $4.2B to expand the latter’s upstate New York facility.\nCSET estimates the US should focus on its manufacturing capabilities in leading-edge, legacy logic and DRAM (right chart).",
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      "text": "Recommended funding: $250B",
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      "text": "The bipartisan legislation was signed into law in August 2022. It provides for $53B to boost US-based semiconductor R&D, workforce and manufacturing, as well as a 25% investment tax credit for semiconductor manufacturers’ capital expenses. In exchange, recipients must not upgrade or expand their existing operations in China for 10 years, nor can they use funds for share buybacks or to issue dividends.",
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      "text": "The US CHIPS and Science Act of 2022: $250B for US semiconductor R&D and production",
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