Oregon has finalized $136 million in funding for expansions by semiconductor manufacturers Intel, Microchip Technology, and HP Inc. This state funding is part of a larger $240 million package approved by lawmakers, with additional support expected from the federal CHIPS Act. Intel is set to receive the largest portion for its research campus expansion in Hillsboro, promising over 2,000 new jobs. Microchip Technology's Gresham factory expansion, supported by an $11 million grant, is anticipated to create 300 jobs and includes an apprenticeship program. HP Inc. will use its $9.5 million award for advanced microfluidics technology in Corvallis. The funding is contingent on the companies meeting project objectives and starting work by 2027.
The U.S. Department of Commerce has awarded Microchip, a Colorado Springs business, $162 million to expand its operations, creating at least 400 new jobs in the semiconductor industry. This expansion is seen as a significant step towards enhancing America's economic and national security by reducing dependency on foreign semiconductor suppliers. The investment will enable Microchip to triple its production nationwide, offering jobs with an average salary significantly higher than the county's average wage.
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.
The Biden administration is awarding $162 million to Microchip Technology for the expansion of computer chip factories in Colorado and Oregon, aiming to boost domestic production of semiconductors. This funding, part of the CHIPS and Science Act, is expected to nearly triple the company's output and create over 700 jobs, enhancing the supply chain for critical industries and reducing reliance on foreign semiconductor sources.
The Biden administration has allocated $162 million to Microchip Technology to boost U.S. semiconductor production, with $90 million going to a Colorado plant and $72 million to an Oregon factory. This funding, part of the CHIPS and Science Act, aims to triple domestic chip production, create jobs, and reduce reliance on foreign manufacturing, which could help mitigate inflation by addressing supply chain issues. The investment is expected to create 700 jobs and follows a previous grant to BAE Systems for military chip production.
The Biden administration has allocated $162 million to Microchip Technology for expanding computer chip factories in Colorado and Oregon, aiming to triple U.S. production and create 700 jobs. This move, part of the CHIPS and Science Act, seeks to strengthen domestic semiconductor manufacturing, reduce reliance on foreign production, and address inflation by easing supply chain issues.
The Biden administration has allocated $162 million to Microchip Technology from the CHIPS and Science Act to expand semiconductor production in Colorado and Oregon. This move aims to triple U.S. chip production, create jobs, and reduce reliance on foreign manufacturing, which is also expected to help control inflation by addressing supply chain issues that have previously driven up prices for consumer goods.
The U.S. government is awarding Microchip Technology $162 million to expand its semiconductor production facilities in Oregon and Colorado, aiming to strengthen the domestic supply chain and reduce reliance on foreign chips. This grant, part of the CHIPS and Science Act, is expected to create over 700 jobs and triple the company's output at the two sites. The funding will also help Microchip, a key supplier to the defense industry and critical national industries, to decrease its dependence on foreign production facilities. The Commerce Department is conducting due diligence before finalizing the terms of this preliminary agreement.
The semiconductor industry, led by companies like NVIDIA and AMD, has seen record profits, the highest since 2009, driven by the demand for advanced AI and high-performance computing. NVIDIA joined the "trillion-dollar" club and aims for $300 billion in AI sales by 2027, while AMD continues to impress with its Instinct GPU lineup. The Philadelphia Stock Exchange Semiconductor Index reported a 65% annual increase, reflecting the sector's explosive growth.
ARM Holdings and AMD stocks dropped significantly due to a broader tech sell-off and geopolitical tensions affecting the semiconductor industry. ARM's shares decreased by over 8%, while AMD's fell by more than 6%. The sell-off was influenced by the Dutch government's decision to revoke an export license for ASML's lithography systems to China, which led to a response from China urging the Netherlands to protect bilateral trade interests. Despite previous gains, the semiconductor sector faced pressure amid these developments.
The U.S. administration reportedly intervened weeks before a January 1, 2024, export ban deadline to stop ASML, a Dutch semiconductor equipment maker, from shipping certain chipmaking machines to China. This action was in response to China's use of ASML's technology in developing advanced processors, despite the Dutch government's previous authorization for such shipments until the end of 2023. The U.S. aims to limit China's access to advanced semiconductor technology, a move that has prompted China to accelerate the development of its own silicon ecosystem.
