Leading-edge semiconductor companies have requested over $70 billion in funding from the CHIPS Act, significantly exceeding the $39 billion grant pool allocated by the U.S. Commerce Department, with $28 billion specifically set aside for advanced fabrication facilities. Commerce Secretary Gina Raimondo highlighted the discrepancy at a CSIS event, noting the challenge of distributing the funds fairly among the applicants from a $52.7 billion program. The demand reflects the industry's ambition, spurred by the Biden administration's goal for the U.S. to produce 20% of the world's advanced semiconductors by 2030, as reported by @benwerschkul. Companies such as Intel, TSMC, and Samsung are among those seeking substantial subsidies, aiming to bolster the U.S.'s position in global semiconductor manufacturing. Raimondo expressed confidence in meeting these ambitious targets, despite the funding challenges, emphasizing the act's role in revitalizing American manufacturing and innovation under @POTUS' leadership. She also mentioned the possibility of tapping into a $75 loan pool and investment tax credits to supplement grant funding, addressing the 'monumental challenges of our time' during her speech on 'Investing in Leading-Edge Technology: An Update on CHIPS Act Implementation'.
Financial Times @ft: Chipmakers Seek More Than $70 Billion in Federal Subsidies - The New York Times. #GenAI #AI #aiact https://t.co/XmnaeN1XOa
Commerce Secretary Gina Raimondo said Monday she is confident the U.S. will make 20% of the world's semiconductors by the end of the decade. https://t.co/n6WYfqXvV8
Leading-edge firms — which include @Intel @TWSemicon, and @Samsung — are seeking more than $70 billion from the 2022 #ChipsAct, Raimondo says This is more than double the amount of available federal funds for projects in the US https://t.co/P3sIWvwNjt #HPC #AI
U.S. Projected to Make 20% of the World’s Most Advanced Chips by 2030, Commerce Secretary Says https://t.co/GyuvbNJzjD
Intel, TSMC, and Samsung are demanding Biden double the funds on hand for chips, Raimondo says https://t.co/ckliyvwne5
Read @SecRaimondo's "Investing in Leading-Edge Technology: An Update on CHIPS Act Implementation" remarks here: https://t.co/aMWoIbUwx5 https://t.co/AaY42Ov7xX
This morning at @CSIS, I delivered an update on our implementation of the CHIPS and Science Act and laid out the road ahead. Thanks to @POTUS’ leadership, we’re supercharging innovation, revitalizing American manufacturing, and meeting the monumental challenges of our time. https://t.co/TJjrikweOm
Biden wants the US to make 20% of all high-end chips by end of the decade https://t.co/J8VZJJoptM by @benwerschkul
This is a tough math problem for Commerce: Advanced chip firms want more than $70b. Chips Act has $39b in grants, w $28b slated for leading-edge Something to watch as awards are announced is which firms tap the $75 loan pool & investment tax credits to supplement grant funding https://t.co/SGdm5CTa8x
⚠️ CHIPS COMPANIES WILL BE LUCKY TO GET HALF OF SUBSIDIES SOUGHT, US COMMERCE SECRETARY SAYS (Reuters) U.S. Commerce Secretary Gina Raimondo said Monday chips companies seeking government subsidies from a $52.7 billion program are expected get significantly less than they… https://t.co/XIIjPuwFHh
Advanced semiconductor companies have requested more than double the amount of available federal funds for projects under construction in the US, Commerce Secretary Gina Raimondo said. https://t.co/Y2u9wSBoK2
Leading-edge chip companies have requested more than $70 billion in Chips Act funds, @SecRaimondo says at CSIS. Commerce has set aside $28b for advanced fabs from $39b grant pool Raimondo also says office will prioritize projects that will be done by 2030
🔴 US COMMERCE SECRETARY RAIMONDO: LEADING EDGE FIRMS SEEKING OVER $70 BLN FROM THE CHIPS ACT.