Chipmakers are rushing to get Chips Act money before Biden’s out – Here’s who’s finalized so far
Fourteen chipmakers including Intel and TSMC have finalized billions in Chips Act funding
As the Biden administration prepares to pass power to President-elect Donald Trump, U.S. chipmakers are rushing to finalize federal funding.
In 2022, President Joe Biden signed the bipartisan CHIPS and Science Act to boost semiconductor manufacturing, research, and development in the U.S. The $280 billion package includes $52 billion in subsidies for chips.
However, Trump’s criticism of the Chips Act as a “bad” deal has made some worried chipmakers eager to finalize their funding before he enters office. The president-elect has said the U.S. should instead put tariffs on chips coming into the U.S.
Trump said during an interview with podcaster Joe Rogan in October,
That chip deal is so bad, we put up billions of dollars for rich companies to come and borrow the money and build chip companies here, and they’re not going to give us the good companies anyway,
In order to finalize funding, the Commerce Deparment has had to complete due diligence for chipmakers including Intel (INTC), Taiwan Semiconductor Manfuacturing Company, and Micron (MU). The award will be disbursed based on each company’s completion of project milestones, the department said.
With Trump entering office this month, here are the chipmakers that have finalized Chips Act funding so far.
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Chipmakers are rushing to get Chips Act money before Biden’s out – Here’s who’s finalized so far, source
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