German Minister for Digitalization and State Modernization Karsten Wildberger (L) and Saxony's State Premier Michael Kretschmer(C Back) greet apprentices at the opening of the Infineon Smart Power Fab in Dresden, eastern Germany, on July 2, 2026. German semiconductor giant Infineon officially opens a large new chip factory in eastern Germany on July 2, three months ahead of schedule. The new, highly automated plant -- which cost 5 billion euros ($5.7 billion) -- has been repeatedly held up as a symbol of the European Union's push to bolster the domestic tech sector and reduce dependency for crucial parts on Asia and the United States. (Photo by Robert Michael / POOL / AFP via Getty Images)