Semiconductor Makers Still Awaiting CHIPS Act Payments One Year Later
One year after the signing of the CHIPS and Science Act, the U.S. semiconductor industry is still waiting for the federal funding promised by the legislation. The $52.7 billion package aims to re-shore the semiconductor supply chain in America and improve national security. However, no funding has been awarded yet, despite over 460 statements of interest from companies worldwide. Many private sector semiconductor investments are contingent on receiving federal aid, and companies are eagerly awaiting the funds to begin construction and expansion projects. The Department of Commerce has hired staff to evaluate applications, but tough choices lie ahead as not all applicants are expected to receive aid.