Semiconductors power today’s digital economy. Approximately 1.2 trillion semiconductors will be sold this year. The United States runs on semiconductors.
Semiconductors, chips, are fundamental in maintaining and growing a strong economy. They are equally critical for our national security. Artificial intelligence is powered by semiconductors designed by Nvidia, the world leader in the most advanced chips. The U.S. must remain the clear leader in semiconductors, AI, and the technologies that make AI a reality. To understand why this matters so much, consider that while the U.S. accounts for about 26% of global GDP, it maintains almost a 50% share of the world’s intensely competitive semiconductor market.
The U.S. is competing aggressively against China, its key adversary, and against friendly countries such as South Korea, Taiwan, Japan, and the United Kingdom. But to maintain