UK invests $1.2bn in semiconductor manufacturing

The UK has announced up to $1.24 billion in support for its semiconductor industry, according to CNBC.

This investment will be part of a 20-year strategy that aims to secure chip supply and protect national security. The strategy includes a number of measures aimed at developing the local chip manufacturing sector, reducing the risks of supply chain disruptions and ensuring national security.

British Prime Minister Rishi Sunak said: "Semiconductors are at the core of the devices we use every day and will be key to the technology of the future."

As part of its strategy, the UK is also seeking to expand cooperation with international partners. An agreement has already been reached with Japan on expanding cooperation in the field of defense and semiconductors.