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The CHIPS and Science Act is a U.S. federal statute enacted by the 117th United States Congress and signed into law by President Joe Biden on August 9, 2022. The act authorizes roughly $280 billion in new funding to boost domestic research and manufacturing of semiconductors in the United States, for which it appropriates $52.7 billion.
WASHINGTON (Reuters) -Wolfspeed is set to receive $750 million in government grants for its new North Carolina silicon carbide wafer manufacturing plant facility, the U.S. Commerce Department said ...
A $750-million grant through the CHIPS and Science Act will support Wolfspeed’s incoming massive materials factory in Chatham County and its existing fabrication site in New York State ...
Intel Corporation (NASDAQ:INTC) and the Biden-Harris Administration announced that the U.S. Department of Commerce will award Intel up to $7.86 billion in funding under the CHIPS and Science Act.
On an April 26 earnings call, Wolfspeed chief financial officer Neill Reynolds hinted the company is well-positioned to receive federal grant funding through the CHIPS Act.
Over $10 billion was authorized for appropriation to designate ten regional technology hubs and create a supply chain crisis-response program. [1] The act is aimed at competing with China [2] and to respond to US fears of an AI Cold War. [3] A modified version of the bill became law on August 9, 2022, as the CHIPS and Science Act.