"US Boosts Chip Manufacturing with Multi-Billion Dollar Awards and Upgrades"

US Commerce Secretary Gina Raimondo expects to announce around a dozen semiconductor chips funding awards within the next year, including multi-billion dollar announcements, as part of the "Chips for America" program. The goal is to increase the percentage of semiconductors produced in the US from 12% to closer to 20% and establish leading-edge manufacturing clusters. The first award of $35 million has been given to BAE Systems. Companies like Intel, Micron, and GlobalFoundries are seeking significant funding from the program, which has received over 550 statements of interest. Congress has allocated $39 billion for manufacturing incentives.