"Biden Administration to Unveil Billions in Subsidies for Domestic Chip Production"

The US plans to announce major chip grants by the end of March, with Intel and other chipmakers expected to receive billions of dollars to boost domestic production. The grants are part of the 2022 Chips and Science Act, aiming to revitalize US manufacturing with promises of thousands of well-paying factory jobs. The awards, which could be unveiled before President Joe Biden’s State of the Union address, will cover up to 15% of project costs and are crucial for companies like Intel and TSMC, which are investing billions in new facilities in the US.