Brussels approved €319M in Austrian state aid for Infineon's €1.1B Villach upgrade, what Infineon calls the world's first high-volume gallium nitride power semi fab on 300mm wafers. Chips Act money ai

What happened: The European Commission approved €319 million in Austrian state aid for Infineon Technologies to upgrade its Villach semiconductor facility, which the company says will be the world's first high-volume manufacturing site Why it matters: The Commission said the measure under the EU Chips Act will help strengthen the EU's position and autonomy in the semiconductor value chain, as the bloc seeks to reduce reliance on imports from third countries. Austrian Chancellor Christian Stocker called it one of the largest single investments in the history of Austria's high-tech industry.

The European Commission approved €319 million in Austrian state aid for Infineon Technologies to upgrade its Villach semiconductor facility, which the company says will be the world's first high-volume manufacturing site

The Commission said the measure under the EU Chips Act will help strengthen the EU's position and autonomy in the semiconductor value chain, as the bloc seeks to reduce reliance on imports from third countries. Austrian Chancellor Christian Stocker called it one of the largest single investments in the history of Austria's high-tech industry.