Posted 2/20/2024, 12:42:00 PM
U.S. Chips Act Provides Billions in Funding to Expand Domestic Chip Production
- U.S. provides $1.5 billion to GlobalFoundries from CHIPS Act to expand domestic chip manufacturing
- Reports that Biden administration could give over $10 billion in CHIPS funding to Intel
- Funding includes grants and loans to help chipmakers build and expand fabrication plants
- Awards first major subsidies from $75B fund to boost U.S. semiconductor industry
- Stocks like Intel, GlobalFoundries, Taiwan Semiconductor and Micron could benefit from subsidies