Here's where the last $6 billion in CHIPS Act semiconductor award money is going
Publishing timestamp: 2024-05-23 16:08:21
Summary
The Commerce Department is looking to fund dozens of small companies along the semiconductor supply chain with the remaining $6 billion in CHIPS Act award money. The goal is to leverage grant money to attract private investment, boost supply chain resilience, and enhance economic security. The focus is on funding U.S.-based facilities in areas like materials and packaging to rebuild the semiconductor ecosystem in the country. The awards announced so far have prompted pledges of over $300 billion in leading-edge production investments. Small companies are expected to benefit from the upcoming awards, even though they will be smaller than the previous multi-billion-dollar packages.
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Keywords: bae systems plc, u.s. economy, samsung electronics co ltd, gina raimondo, u.s. department of commerce, taiwan semiconductor manufacturing co ltd, micron technology inc, globalfoundries inc, business, breaking news: technology, microchip technology inc, technology, intel corp, business news,
Source: https://www.cnbc.com/2024/05/23/chips-act-last-6-billion-in-semiconductor-award-money.html