More Firms Eligible for CHIPS Act Funding with Expanded Eligibility

1 min read
Source: The Wall Street Journal
More Firms Eligible for CHIPS Act Funding with Expanded Eligibility
Photo: The Wall Street Journal
TL;DR Summary

The Biden administration has expanded the eligibility for federal subsidies under the Chips Act to include companies that provide tools, chemicals, and other supplies for the semiconductor industry, in addition to chip manufacturers themselves. The $53 billion Chips Act aims to reduce the US's reliance on foreign-made semiconductors, particularly those used by the Pentagon, and is seen as crucial to national security.

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