The $39 billion Chips for America program is Biden’s plan to outcompete China
have already leveraged the industry’s excitement over the money to strike new commercial partnerships and build factories across the US.
In a statement Tuesday, Al Thompson, Intel’s vice president of US government relations, welcomed the program’s launch, calling it “an important step for American semiconductors to be globally competitive.”“Not a single public dollar should help executives goose their stock prices” Progressives like Sens. Elizabeth Warren and Bernie Sanders sought to limit stock buybacks from companies receiving CHIPS Act funding when it was being debated in Congress this year. While the Commerce Department’s plans ban grants for stock buybacks, lawmakers fear the agency hasn’t gone far enough.
“Leveraging federal funds for #CHIPS manufacturing to support workers and protect taxpayers is critical,” Warren said in“Not a single public dollar should help executives goose their stock prices,” Warren said.“Today’s Notice of Funding Opportunity is a crucial step to unleashing the promise of the CHIPS and Science Act to create good-paying jobs right here at home and end our dangerous dependence on semiconductors manufactured abroad,” Rep. Frank Pallone Jr. said in a statement Tuesday.
As part of Tuesday’s announcement, the Commerce Department laid out goals it expects to meet in the next 10 years by administering the money. Specifically, the department plans to create two new “large-scale clusters” of chip fabs that produce “leading-edge” memory chips, current-generation, and mature-node chips.
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