"Biden Administration Awards $35 Million to BAE Systems for CHIPS Act Grant"

The Biden administration has chosen defense contractor BAE Systems as the recipient of the first federal grant under the CHIPS Act, a program aimed at bolstering American semiconductor manufacturing. BAE Systems is expected to receive a $35 million grant to increase domestic production of a type of chip used in fighter jets. The grant is intended to enhance the secure supply of critical components for the United States and its allies. The decision to select a defense contractor for the first award highlights the administration's focus on national security. The funding is part of a larger effort to incentivize chip factory construction in the United States and reduce reliance on offshore manufacturing.