Germany wants to attract chip makers with 14 bln euros state aid.

$Direxion Daily Semiconductor Bull 3x Shares ETF(SOXL.US)$ Germany's government wants to attract chip makers with 14 billion euros ($14.71 billion) in support, the lack of semiconductors used in everything from smartphones to cars was a massive problem.A global chip shortage and supply chain bottlenecks have created havoc for car makers, healthcare providers, telecoms operators and others.

$Intel(INTC.US)$ announced it had picked the German town of Magdeburg as the site for a huge new 17 billion euro chipmaking complex. Government sources said at the time the state was promoting the project with billions of euros of funds.