US Lays Out $50 Billion Chips Plan and May Issue Funds in the Spring
- Commerce Department details how money will be allocated
- Guidance on funding applications to be released in February
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The Biden administration published its strategy for subsidizing US output of semiconductors, with the first phase of funding potentially being rolled out next spring, Commerce Secretary Gina Raimondo said.
Smaller, simpler projects involving expansion of existing facilities will be the first to receive funds, followed by more complex projects for so-called leading-edge chips, which the US currently doesn’t produce but consumes more than 25% of global supply, Raimondo told reporters in Washington Tuesday.