The US will invest around $52.7 billion (€51.6 billion) in microchip production under the $280 billion Chips and Science Act. The bipartisan measure is aimed to ensure the US can keep pace with China as the two countries vie for dominance in the high-tech sector. “The future of the chip industry is going to be made in America,” US President Joe Biden said while signing the bill into law on Tuesday. The move comes as the world faces a prolonged shortage of semiconductors, materials crucial for producing microchips. The terms “semiconductor” and “microchip” are often used interchangeably. US at ‘inflection…