TSMC’s first European plant builds momentum for the EU’s chip ambitions—but a key Intel decision is yet to arrive

The world’s largest contract chipmaker today broke ground on its first European plant, in the German state of Saxony’s capital city of Dresden. At the same time, the European Commission gave its crucial approval to Germany’s €5 billion ($5.55 billion) in state aid for the $11 billion project—the biggest sum so far to be doled out under the EU’s Chips Act rulebook, which took effect last year.

Europe’s Chips Act aims to double the region’s share of global chip production to 20% by 2030 (the U.S….