"White House Grants Microchip Technology $162M to Strengthen Semiconductor Production"

The U.S. Commerce Department plans to award Microchip Technology $162 million to increase semiconductor and microcontroller production at two U.S. factories. This move, part of the $52.7 billion "Chips for America" program, aims to reduce reliance on foreign chip production, particularly from China, and strengthen the U.S. supply chain for industries including automotive, defense, and aerospace. The grant will enable Microchip to triple production of mature-node semiconductor chips, enhancing national and economic security.