Major CHIPS Program Awards Ramp Up Competition For Subsidies [Forbes]
Intel Corporation (INTC)
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Source: Forbes
Biden announced $8.5 billion in federal funding from the CHIPS Act for Intel Corp. to manufacture semiconductors in Arizona. (Photo by Rebecca Noble/Getty Images) Implementation of the Biden administration's CHIPS HIPS Program has ramped significantly in recent weeks after an initial delay. Since late March, the agency has announced preliminary agreements with Intel INTC TSMC , and Samsung , which include $21.5 billion in grants. In addition, Bloomberg reported that Micron is expected to receive a grant award of $6.1 billion as soon as next week. This total represents a significant portion of the $39 billion available to the CHIPS Program to award. However, this concentration is unsurprising as the Commerce Department's strategy was to put 75% of the funds, or around $28 billion, toward leading-edge manufacturers. Given the concentration of subsidies put toward these businesses, competition for the remaining money will be significant. Commerce Secretary Gina Raimondo has repeatedl
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