US Takes Measures to Limit China's Benefit from CHIPS Act Funding.

The Commerce Department has proposed a regulation to prevent adversarial countries like China from using technology developed out of the $52 billion CHIPS and Science Act against the US or its allies. The bipartisan CHIPS Act includes a requirement that the Commerce Department develop regulations to prevent companies that receive some of the billions of dollars in incentives for developing and manufacturing semiconductors in the US from doing business with foreign countries of concern. The law also prohibits recipients from engaging in joint research or technology licensing efforts with a foreign entity of concern if those activities are related to technology or a product that raises national security concerns.