It’s no secret that America—the birthplace of the transistor and, by extension, the modern semiconductor industry—has gradually ceded its leadership in the manufacturing of semiconductors.

These chips power everything from smartphones and cars to satellites, advanced defense systems and artificial intelligence. They are the backbone of the modern economy and the foundation of next generation technology such as quantum computing. Simply put, semiconductors are essential for modern life and critical to our technological future.

For decades, many American semiconductor companies followed a “design here, build elsewhere” strategy that led to a decline of U.S.-based manufacturing from 37% in 1900 to just 10% by 2022.

While these companies were following clear economic logic, the negative c

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