In 2023, Japan went all in on semiconductors — the tiny yet critical components of electronic goods we use every single day — backing new plants and rolling out extensive support.

It’s far from alone. Around the world, governments are implementing initiatives to secure access to chips, with many pushing to develop their own capabilities and insulate supply chains from geopolitical tensions.

One of the crown jewels in Japan’s effort is the government-backed Rapidus, which is pushing to create a “Hokkaido Valley” that can compete with California’s more famous Silicon Valley, attracting big players such as ASML Holding.