After that we will see a flood of lower cost hardware coming to the rest of the world, CPUs, GPUs, AI chips. That will put pressure on Intel, Qualcomm, Nvidia and the likes.
I'd invest in US tech companies for the next few years and after that move to Asian companies.
Every major western semi partner currently projecting talent shortage of 100,000s in 5-10+ year time frame. VS PRC at ~500k/700k of domestic IC talent they think they need for indigenous industry according to 2018 white paper (IIRC same year they started prioritizing talent production to first-level discipline), and now academic system is generating ~30k IC talent per year. TLDR is everyone maybe making improvements, but PRC uniquely positioned to have requisit talent to catchup/exceed, and have advantage of coordinating entire semi industrial base in single jurisdiction. Semi talent development is still one area where west is actively dropping ball, and unless TSMC Arizona sort out their worker/cultural drama, might continue to if west can't elevate semi to desirable career.