EU countries have agreed on a €45 billion plan to finance chip production. They unanimously backed a modified version of the European Commission's proposal.
The proposal still has to be approved by the Council of the European Union (ministerial level) before it goes to the European Parliament. That meeting is expected to take place on December 1.
The aim of the program is to raise European chip production to 20% of the global total by 2030. It currently stands at 8%.
Reforms to the original plan include the possibility for states to grant direct subsidies to a wider range of chips. They will now be able to support the production of semiconductors that bring innovation in computing power, energy efficiency, environmental gains and artificial intelligence.