Posted 2/26/2024, 5:17:50 PM
Chip Companies Seek Over $70B in Subsidies, Forced to Scale Back Requests
- U.S. chip companies have requested over $70 billion in subsidies, more than double the $28 billion available
- Commerce Secretary Raimondo pushing companies to accept less money to fund more projects
- Companies will likely get less than half of what they originally requested
- Funding aims to boost U.S. production of leading edge logic chips to 20% of global output by 2030
- Over 600 companies applied, but many worthy projects will not get funding
