Why $52b chip subsidies are being held up – and what the White House is doing about it
The delay in funding the CHIPS Act has already endangered some fab investments in the US, Raimondo warned Congress in a letter penned jointly with Secretary of Defense Lloyd Austin.
"If these funds are not appropriated in the coming weeks, the United States will miss out on the current wave of semiconductor investment … If we do not act, they will expand in countries that are already aggressively offering incentives, rather than here in the United States," the pair wrote. The letter, dated July 13, comes one day after Intel CEO Pat Gelsinger spoke at a Washington Post Live event about the path forward for chip manufacturing in the US. Intel has been vocal about its support for the CHIPS Act, having announced plans to build two fabs on American soil, one of which is already under construction in Ohio, using the subsidies.a groundbreaking ceremony for the project because funding had stalled.
As to where he would consider going next, Gelsinger said Europe has been aggressive with its incentives, and was ready to hand out Euros."It's embarrassing that the US started this process a full year before Europe, and the complex 27-member state has moved forward more rapidly," Gelsinger told the Post.
According to Gelsinger, Intel's two fabs, and three non-Intel fabs planned for the US, are depending on CHIPS Act funding to get them over the line."Do we want five fabs built in the US … or do we just want everything being pushed out to either Europe or Asia and further delayed?" ®
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