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A digital art style image representing Europe's major investment in IoT for the year 2024. The image should include visual elements such as digital ne

IoT Why will Europe invest +$260 billion by 2024?

1. Strategic Investment and Global Collaboration

Sam Altman, CEO of OpenAI, is spearheading a large-scale project to establish a global network of semiconductor factories. This strategic move, recently revealed, has caught the attention of major investors worldwide. Notably, technology group G42 from Abu Dhabi and Tokyo-based SoftBank Group are in active discussions with Altman. This project aims to consolidate the production of semiconductors, essential components in the manufacturing of a wide range of products, from consumer goods to advanced artificial intelligence solutions.

2. Geopolitical and Economic Impact

Altman’s initiative represents not just a significant leap in semiconductor manufacturing but also emerges as a key factor in the current geopolitical dynamics. The location of these factories, yet to be determined, could tip the manufacturing scale in favor of the United States, which currently produces only 12% of the world’s chips. Furthermore, the success of this project would directly impact the ongoing “chip war” between the United States and China, both seeking to bolster their production for applications in critical sectors like AI and defense.

3. Industry Future and Challenges

According to S&P Global estimates, the demand for semiconductors is on the rise, driven by their increasing use in vehicles and geopolitical trade risks. However, Altman’s project is still in its early stages, and its success will depend on several factors, including securing funding and overcoming logistical and regulatory challenges. The Biden administration has invested billions in the industry and imposed export restrictions on chips to China, which could influence the project’s development.