The White House’s $39 billion chip-making giveaway starts today
signed the CHIPS and Science Act into law in 2022
, it put $52 billion in tax credits and funding on the table to help bolster the semiconductor industry in the US, with $39 billion specifically earmarked for semiconductor manufacturing incentives.
The"first" in first funding opportunity is the key word here: At the start, CHIPS for America is specifically looking to fund projects that align with the program's"vision for success" that seeks to have a number of leading-edge logic fabrication facilities and DRAM chip manufacturers, as well as hitting specific production capacity goals for"current-generation and mature-node" semiconductors.
The program also includes strict guardrails for how funding is used. Applicants who are awarded CHIPS funding will be prohibited from using the payments for stock buybacks or to pay out dividends, and payments will be tied to meeting specific milestones. It'll be awhile before the first recipients of CHIPS funding are announced, but hopeful projects can begin submitting applications on March 31, 2023.
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