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Chips are the new oil and America is spending billions to secure its supply


Only in the last two years has the US fully understood that semiconductors are now as central to modern economies as oil.

In the digital world, power tools usually come with Bluetooth chips that track their locations. Appliances have added chips to manage power usage. In 2021, the average car contained about 1,200 chips worth $600, twice as many as in 2010.

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