Commerce Department Secretary Gina Raimondo called it a huge deal and one of the largest investments ever in U.S. semiconductor manufacturing
nearly $20-billion in grants and loans on Wednesday, supercharging the company’s domestic semiconductor chip output and marking the government’s largest outlay to subsidize leading-edge chip production.
“It means leading-edge semiconductors made in the United States of America,” she said on Tuesday, noting that the administration hopes to increase the United States’ share of leading-edge chip production from 0 per cent to 20 per cent by 2030 through the subsidy program. The goal of the CHIPS Act is to reduce reliance on China and Taiwan, as the share of global semiconductor manufacturing capacity in the U.S. has fallen from 37 per cent in 1990 to 12 per cent in 2020, according to the Semiconductor Industry Association.
In January, the Commerce Department announced Microchip Technology would get $162-million in government grants, allowing the company to triple production of mature-node semiconductor chips and microcontroller units at two U.S. factories.
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