The CHIPS Act: Rebuilding America’s technological infrastructure [Video]

You already know that there are computer chips in your computer and your phone. But you may not realize just how many other things in your life rely on chips. They’re also in your clocks, toys, thermostats, and every single thing in your kitchen.

“Our demand for silicon chips is only going to grow as we find new ways to make new devices smarter,” said Chris Miller, who teaches at Tuft University’s Fletcher School. He is also the author of a book about the chip industry, “Chip War: The Fight for the World’s Most Critical Technology” (published by CBS’ company, Simon & Schuster).

Most chip manufacturing happens in East Asia. Taiwan manufactures 90 percent of the world’s most advanced processors.

Over the last 30 years, the world has put almost all of its silicon eggs into one basket: a single company called the Taiwan Semiconductor Manufacturing Company (TSMC). It’s now …