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Raimondo: Commerce Dept. will allocate all of the CHIPS Act grant money this year - TL;DR CNBC

Raimondo: Commerce Dept. will allocate all of the CHIPS Act grant money this year

Publishing timestamp: 2024-04-16 13:06:01


Summary

The Biden administration plans to allocate all $39 billion in CHIPS ACT grant money by the end of the year, focusing on memory chips and investments in suppliers, wafers, and chemicals. Samsung has been awarded up to $6.4 billion to expand chip plants in Texas, with more grants expected to be distributed in the coming weeks. The goal is to create an advanced manufacturing ecosystem in the U.S. to strengthen national security.


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Keywords: politicstaiwan semiconductor manufacturing co ltdintel corpsamsung electronics co ltdbreaking news: politicsbusiness news

Source: https://www.cnbc.com/2024/04/15/gina-raimondo-commerce-will-spend-all-chips-act-money-this-year.html


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