The White House promises details on the chip subsidy by February

The Biden administration released its strategy to subsidize U.S. semiconductor production and said it will provide guidance on how companies can apply for funding from the $52 billion Chips and Science Act through February.

The plan — known as Chips for America — earmarks $28 billion for domestic production of advanced logic and memory chips, about $10 billion for new capacity to build current-generation chips and semiconductors, and $11 billion Dollars ready for a new National Semiconductor Technology Center, manufacturing institutes and other development programs, the Commerce Department said in a statement accompanying the release of the strategy on Monday.

The US Department of Commerce will release funding documents containing specific application guidance for the program by early February, it said.

“Grants and loans will be made on an ongoing basis once applications can be processed, assessed and negotiated responsibly,” it said.

President Joe Biden signed the chip law into law on August 9th.

It is at the heart of his government’s efforts to reduce reliance on Asian suppliers like Taiwan and South Korea — whose local companies lead the global market — and to address supply chain disruptions and resulting price increases for certain goods containing semiconductors.

https://www.independent.ie/business/world/white-house-promises-chip-subsidy-details-by-february-41967215.html The White House promises details on the chip subsidy by February

Fry Electronics Team

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