First few lines from an article in the New York Times, worth logging into the NYT and having a read. Have to think it's a positive for SEMI

WASHINGTON — President Biden on Tuesday signed into law a sprawling $280 billion bill aimed at bolstering American chip manufacturing to address global supply chain issues and counter the rising influence of China, part of a renewed effort by the White House to galvanize its base around a recent slate of legislative victories.

Standing before business leaders and lawmakers in the Rose Garden, Mr. Biden said the bill was proof that bipartisanship in Washington could produce legislation that would build up a technology sector, lure semiconductor manufacturing back to the United States and eventually create thousands of new American jobs.

“Fundamental change is taking place today, politically, economically and technologically,” Mr. Biden said. “Change that can either strengthen our sense of control and security, of dignity and pride in our lives and our nation, or change that weakens us.”

Excerpt from an Interview with Nick Griffin on Livewire

Griffin

As you solve climate, for instance, we all know it's going to involve a lot of electricity, as I said, and it's going to involve a lot of battery power. Lots of people are looking at lithium that goes into batteries, or nickel, or battery manufacturers or Teslas, et cetera. Probably the most overlooked area of what's going to solve this is power semiconductors. There are semiconductors that sit at the core of how you transfer power; how you take power from one place to another. How do you take from a battery manage that power load into driving a drive chain, if that makes sense.

You used to have these cheap components that would sit inside a fridge, or they'd sit inside an electronic toy, for instance, that ran off batteries. And now they've got to sit inside these really big things like electric cars or electric buses, or battery-powered renewable energy facilities, so their total addressable market is effectively exploding.

The companies that make these things, there's four of them in the world. And the biggest one is in Germany, called Infineon. That's probably the one I'd mention today. But there are other ones. And they make these power semiconductors. They're really hard to make; it's a very complicated process. And one has to pretty much be fitted in every solar, every wind turbine, every electric car on the planet.

Everyone's reading about the semiconductor shortage in the world today and thinking it's a short-term thing, and we don't think it is. To give you an idea, if you speak to Infineon, the semi content that would go into a normal internal combustion engine car would be $160 per car. The semiconductor content that goes into an electric vehicle with some autonomous driving features will be $1,600.

As we go through this transition, you're effectively going to get a 10-fold increase in their addressable market and Infineon is the best of these players, and trades at roughly 26, 27 times earnings. But some of their smaller players in the place only trade at 15, 16 times earnings. They've become the weapons manufacturers in the war or the shovels in the berm.

So if you believe in de-carbonisation and you don't want to get hung up on some solid-state battery concept or some electrical vehicle manufacturer that doesn't produce a car, and you just want to buy the shovels in the berm, the biggest shovel on the whole planet is Infineon and it's listed in Germany. That would be the one I'd point to.