White House Opens $39 Billion Chip-Making Giveaway
- last year
White House , Opens $39 Billion , Chip-Making Giveaway .
In 2022, President Joe Biden signed
the CHIPS and Science Act into law.
Engadget reports that CHIPS has made $52 billion
in tax credits and funding available to bolster
the United States' semiconductor industry.
$39 billion of the bill was specifically
earmarked to provide incentives
for semiconductor manufacturing.
Now, the Biden Administration has launched
the first CHIPS for America funding opportunity,
opening the application process.
According to the administation, funding is available for , "projects to construct, expand or modernize commercial
facilities for the production of leading-edge, current-
generation and mature-node semiconductors.".
The program's "vision for success" looks to develop
leading-edge logic fabrication facilities and DRAM
chip manufacturers by the end of the decade.
Engadget reports that the plan also boasts
more funding opportunities for R&D and
manufacturing equipment facilities in the future.
The program also reportedly
includes strict rules for how
funding can be applied.
Applicants who receive CHIPS funding
cannot use payments for stock
buybacks or to pay out dividends.
Payments will reportedly be tied to
meeting targeted milestones in realizing
the administration's "vision for success."
In 2022, President Joe Biden signed
the CHIPS and Science Act into law.
Engadget reports that CHIPS has made $52 billion
in tax credits and funding available to bolster
the United States' semiconductor industry.
$39 billion of the bill was specifically
earmarked to provide incentives
for semiconductor manufacturing.
Now, the Biden Administration has launched
the first CHIPS for America funding opportunity,
opening the application process.
According to the administation, funding is available for , "projects to construct, expand or modernize commercial
facilities for the production of leading-edge, current-
generation and mature-node semiconductors.".
The program's "vision for success" looks to develop
leading-edge logic fabrication facilities and DRAM
chip manufacturers by the end of the decade.
Engadget reports that the plan also boasts
more funding opportunities for R&D and
manufacturing equipment facilities in the future.
The program also reportedly
includes strict rules for how
funding can be applied.
Applicants who receive CHIPS funding
cannot use payments for stock
buybacks or to pay out dividends.
Payments will reportedly be tied to
meeting targeted milestones in realizing
the administration's "vision for success."