The US and Japan have both moved to ramp up domestic semiconductor research and production as a counterweight to China’s growing technological prowess and offset reliance on foreign chips. Chuck Schumer, the Democratic Party leader in the US Senate, unveiled revised bipartisan legislation late on Tuesday to approve $52 billion to significantly boost chip development over five years. The emergency funding proposal will be included in a more than 1,400-page revised bill the Senate is taking up this week, as reported by Reuters on Friday, to spend $120 billion on basic US and advanced technology research to better ... (full story)