Intel's $33B chip plant in Germany fuels global spending spree.

Governments around the world are offering subsidies to chipmakers to build domestic factories and reduce dependency on overseas suppliers. Intel has announced more than $50 billion in new plants in Poland, Germany, and Israel, spurred on by government incentives. The US, the European Union, Japan, and India have committed more than $100 billion in subsidies to attract chipmakers. For chipmakers, the subsidies represent an important hedge against rising costs while they work to reshape the global manufacturing landscape. For the governments, the plants mean jobs, investment in infrastructure, and supply-chain security for the semiconductors needed for everything from automotive production and mobile phones to home appliances.