According to European Commission digital chief Henna Virkkunen, Europe is exploring additional ways to back its semiconductor industry in response to calls for a "Chips Act 2.0". The original 43 billion euro Chips Act initiated in 2023 did not fully meet its objectives, but was effective in preventing a decline in Europe's industry despite increased support in the United States and China. Industry groups suggest that a second European program should focus on enhancing supply chains, addressing gaps in advanced chip production, and leveraging current strengths in chip equipment manufacturing. Virkkunen stated that further action is necessary as the initial targets have not been achieved. She also acknowledged the strong backing for a Chips Act Two. A coalition of nine countries is developing recommendations for a new chips initiative to be presented to the Commission before summer, as reported by the Dutch Economic Affairs Minister on March 21.