chips act

The Biden administration is granting $1.5 billion in funding to to bolster semiconductor production under the . The company, which spun out from AMD in 2009 and also has access to $1.6 billion in loans from the CHIPS Program Office, will split the cash between three projects.First, GlobalFoundries will build a new fabrication facility in Malta, New York, where it aims to produce "high value technologies not currently available in the US," the Department of Commerce said in a statement. it will use the facility to build…

The Biden administration is in talks to award more than $10 billion in subsidies to Intel Corp , Bloomberg News reported on Friday, citing people familiar with the matter.Negotiations are underway, and Intel's award package will likely include both loans and direct grants, according to the report. The U.S. Department of Commerce, which oversees the disbursement of CHIPS Act funds, and Intel declined to comment. The department has already announced two smaller Chips Act grants and U.S. Commerce Secretary Gina Raimondo said…

The Biden administration on Friday will announce the investment of $5 billion in a public-private consortium aimed at supporting research and development in advanced computer chips.The National Semiconductor Technology Center is being funded through the CHIPS and Science Act. That 2022 law aims to reinvigorate the computer chip sector within the United States through targeted government support.“We need to be building for the future and that means making investments in R&D,” Commerce Secretary Gina Raimondo said to…

Samsung Electronics Co. has delayed mass production plans at its new chip plant in Taylor, Texas, the Seoul Economic Daily said, potentially dealing another blow to the Biden administration's ambition to increase domestic semiconductor supplies. teMass production at the upcoming $17 billion fab would begin in 2025, the newspaper reported, citing a speech by President Choi Siyoung of Samsung's foundry business at an industry event in San Francisco.  Samsung previously said the factory would start production in the second…

The Biden administration announced the first of many coming federal investments in computer chip production, saying Monday that it would provide $35 million for BAE Systems to increase production at a New Hampshire factory making chips for military aircraft, including F-15 and F-35 jets.This would be the initial allocation of incentives from last year’s bipartisan CHIPS and Science Act, which provides more than $52 billion to boost the development and manufacturing of semiconductors in the United States.The Commerce…

The US secretary of commerce and her South Korean counterpart agreed to "minimise uncertainties" of chipmakers' investments amid new US semiconductor subsidies, Korea's industry ministry said on Friday. Companies such as Samsung Electronics and SK Hynix, the world's No. 1 and No. 2 memory chipmakers, are concerned about the criteria for subsidies from the CHIPS Act, South Korean President Yoon Suk Yeol has said. Industry Minister Chang-Yang Lee asked Secretary of Commerce Gina Raimondo to help resolve chipmakers'…

Germany's Bosch Group has agreed to buy key assets of California chip manufacturer TSI Semiconductors and invest $1.5 billion to expand US production of silicon carbide chips for electric vehicles.Bosch and TSI did not disclose a purchase price. Bosch said it plans to invest $1.5 billion to retool TSI's chip production facilities in Roseville, California to start producing silicon carbide chips by 2026. The investment "will be heavily dependent on federal funding opportunities" through the CHIPS act as well as state…

Taiwanese chipmaker TSMC said on Monday it is communicating with Washington about its "guidance" for a law designed to boost US semiconductor manufacturing that has sparked concerns about subsidy criteria. Conditions for subsidies include sharing excess profit with the US government, and industry sources have said the application process itself could expose confidential corporate strategy. "We can confirm that we are communicating with the US government about the CHIPS ACT guidance," TSMC, the world's leading contract…

The U.S. wants to hobble Beijing's bid to dominate global chip production and stop it acquiring semiconductors that could enhance its military power.EU countries and lawmakers are likely to clinch a deal on a multi-billion euro plan to boost the bloc's semiconductor industry on April 18, sources with direct knowledge of the matter said on Wednesday. The European Commission announced the Chips Act last year in a bid to cut EU reliance on US and Asian semiconductors following global supply chain problems that hurt European…

The European Union's EUR 43 billion (nearly Rs. 3,84,120 crore) plan to boost its semiconductor industry and catch up with the United States and Asia is likely to get the green light from EU countries and lawmakers on April 18, people with direct knowledge of the matter said on Wednesday.The European Commission announced the Chips Act last year in a bid to cut EU reliance on US and Asian semiconductors following global supply chain problems that hurt European businesses from carmakers to manufacturers.The proposed…